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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: LLCF who wrote (104488)	5/24/2001 11:12:20 AM
From: Ilaine	Read Replies (4) of 436258

Actually Gates is against abolishing the estate tax - what he doesn't tell you is that his heirs won't have to pay the estate tax - his money is being put into family foundations, which, if you have ever looked into them, are quite a nifty scam. The family sits on the board of the foundation, gets paid handsome salaries, and spends the foundation's money to further the founder's social goals. Personally, I'd like to see the tax deduction for charitable contributions abolished. Non-profit organizations, like churches, get very nice tax breaks for activities which compete with commercial activities, like day care centers. Great if you're the church, not so great if you're the commercial activity. One of Gate's philanthropic activities is encouraging other wealthy people to set up and/or contribute to charitable foundations. He doesn't want to give this up. He doesn't give a rap about the fact that people far less wealthy are forced to sell family owned farms and businesses in order to pay the tax, killing the goose that lays the golden eggs.

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