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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (314812)	11/6/2002 4:49:34 AM
From: TigerPaw	Respond to of 769667

Gates has been generous. The Fords and Rockefellers invented the modern foundation as a tax dodge. Various stocks and assets can be given to the foundation where it remains tax free for perpetuity. In the mean time a family member is generally placed in charge not only of disbursements, but of the voting of the stock shares, the general investment direction (such as the Harvard foundation's investments in the failing Harken Energy while Bush Jr. was on board and Bush Sr. was president), and the use of the assets. They usually get a generous salary and travel expenses. This is why the truly wealthy don't push hard for the elimination of the estate taxes, they will place the assets outside of tax considerations anyway. TP