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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (638770)12/9/2011 11:37:55 PM
From: i-node3 Recommendations  Read Replies (2) of 1583542
 
>> Very cynical.........foundations do an awful lot of good works, eg Gates

Nothing cynical about it. Fact is, that is why they are formed.

The wealthy give lip service to paying more taxes. But just as Warren Buffet stated clearly on 60 Minutes, they have a choice: Turn the money over to the government when they die, or fork it over to a foundation. The wealthy realize that government is HORRIBLY ineffective, so they choose to control their money from the grave by creating a foundation or in the case of Buffet, allowing Gates to control it.

Warren Buffet could give two shits about paying a lower income tax rate than his secretary on his few million a year in salary. All that matters to him is avoiding the 55% estate tax on his gross estate.
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