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Politics : Formerly About Advanced Micro Devices

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To: J_F_Shepard who wrote (470566)	4/11/2009 12:10:03 AM
From: i-node	Read Replies (1) of 1575884

You picked another bad example with Gates....he's giving his fortune away to very noble world wide causes... He's giving it away? Not to take anything away from his philanthropy. You do realize that most of his wealth will simply go to the government at his death (or Melinda's) if he DOESN'T create a private foundation with it, right? Half the remainder will be taken when his kids die. If you have a few billion or more, you have little choice but to give it away, otherwise the government gets it in a few short years and the money is just wasted. Gates wealth, at its maximum, was just over 4% of the deficit Obama is generating his first year in office. So his choice is to give it to the foundation, which can keep the money into perpetuity, or to give it to the IRS at death for it to fall into a money pit. As it turns out, philanthropy is attractive to someone of that wealth solely because there isn't another damned thing you can do that matters.

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