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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (110009)	11/23/2007 9:42:02 AM
From: Freedom Fighter	Read Replies (3) \| Respond to of 132070

skeeter, >nowhere has warren buffet ever decried that anyone else should be prohibited from giving money to a CHARITY in order to FORCE them to pay the death tax on it.< Yes, but is flat out implying that I can't give ALL the results of my life's efforts to my poor nieces, nephews, cousins etc... even though those are MY VALUES. I would prefer to give my money to the people I love, who have loved and cared for me, and who share my values and not to government or strangers.

To: Skeeter Bug who wrote (110009)	11/25/2007 10:31:24 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Skeeter, >>that's not true. he will pay estate tax. you grossly misstate what he did. he gave some of his money to a CHARITY instead of keeping it and getting it death taxed.<< Just for the record, he will be giving the vast majority of his wealth to the Gates foundation over time. He also gave a significant percentage of the remainder to his former wife's foundation and I believe another chunk to a charity run by one his sons. I have no problem with his choices. They reflect his values perfectly. He doesn't believe in giving much to children. I think he is quoted as saying "he left his children enough to do almost anything but not enough to do nothing (meaning they are going to have to keep working)". The difference is that the vast majority of Americans don't share his values. Even among those for whom this will never be an issue, the vast majority want to leave most of their money, assets, business interests etc.. to their children (or other relatives) because they want a better life for them. They give some to charities, churches etc... during life and after death. I know some people that worked especially hard and for more years "specifically" to give their children a better life. So in effect, they will be forced to pay estate taxes in order to implement their values. He will not (even if he pays a small amount relevant to his vast fortune). He is trying to impose his values on others. The meritocracy aspect of this is also simple BS. I have every reason in the world to go along with Buffett on just about anything. After all, if I didn't sink most of my net worth into BRKA stock in 1987-1990 and hold it until now I wouldn't be semi-retired. I also wouldn't have made other money by following him into other investments. Nor would I have learned a lot of what I know now. I just think he's way off base on this. I'd bet my life against a dollar that if giving money to charity was taxed and giving it to children was not, he would be giving it to his children with some sort of stipulation/control over how it could be used just to avoid the taxes and best reflect his own personal values....JUST THE WAY MOST OF THE REST OF US WANT TO. The last thing he would do is give it to government where "he wouldn't get good value and it wouldn't reflect his values".