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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (894676)10/17/2015 11:50:25 PM
From: i-node1 Recommendation

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TimF

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>> The right wingnuts say that those guys are giving away their fortunes to avoid the 50% inheritance tax, despite the fact that makes no economic sense.

I'm no right wingnut but I do understand clearly what is happening here and of course it makes economic sense.

Of course it makes economic sense. You can control 100% of your money from the grave, or you can give half to the government and have no control over either half.

If you have a lot, lot of money, your objective has to be rational. You're not going to spend it all, and the best you can do is to try to control what happens to it. If you give half to the government, you've done no good at all.

Warren Buffett basically said the same thing. I'm giving my money to the foundation because I think they're a better allocator of resources than government. Woo-hoo. He realizes something you don't get.

I guarantee you he is taking full advantage of the little things like lifetime gifts as well. That's just money a wealthy person would never fork over the government unless they didn't have tax counsel.
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