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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (894676)	10/17/2015 10:07:08 PM
From: Bonefish	1 Recommendation Recommended By FJB Respond to of 1573841

Don't be a fool. They do it so they an avoid estate taxes and direct their fortunes wherever they chose. The rest of us give half our money to the government SO they can spend it as they chose, not as we chose. Gates for example specifies his money go to NON-white kids. These trusts can go on for at least 70 years after the DOD.

To: bentway who wrote (894676)	10/17/2015 11:50:25 PM
From: i-node	1 Recommendation Recommended By TimF Read Replies (2) \| Respond to of 1573841

>> 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.