Jimmy's distant cousin, Warren, doing good after doing well:"I'm not an enthusiast for dynastic wealth, particularly when 6 billion others have much p

[JoshA]

Buffett quote

Jimmy's distant cousin, Warren, doing good after doing well:

"I'm not an enthusiast for dynastic wealth, particularly when 6 billion others have much poorer hands than we do in life," Mr. Buffett said at the New York Public Library, where he was appearing with Bill and Melinda Gates, the only Americans richer than he is.

"I love it when I'm around the country club, and I hear people talking about the debilitating effects of a welfare society," he said. "At the same time, they leave their kids a lifetime and beyond of food stamps. Instead of having a welfare officer, they have a trust officer. And instead of food stamps, they have stocks and bonds."

 

[NYCFred]

Re: Buffett quote

What a crock of sh*t.

Please note that Mr. Buffet, the big supporter of the "death tax", is carefully arranging his affairs so as to avoid PAYING it.

and yes, his kids get paid by his and their own foundations...so maybe they don't get the billions, but they ain't selling hot dogs by the side of the road, either.

 

[Eddie]

Re: Buffett quote

What a crock of sh*t.

Please note that Mr. Buffet, the big supporter of the "death tax", is carefully arranging his affairs so as to avoid PAYING it.

Fred- He's left with enough money to still pay the estate tax. Why do you have a hard time believing he'd like to do some good with a chunk of his cash?

 

[NYCFred]

Re: Buffett quote

<<<Why do you have a hard time believing he'd like to do some good with a chunk of his cash? >>

not the point at all, i'm sure he has the best of intentions, and it's his money to do with as he pleases.
I'm simply pointing out that
A: he's a BIG supporter of the death tax and
B: his donation to the Bill and Melinda gates foundation was specifically planned to avoid same.

 

[Eddie]

Re: Buffett quote

But it doesn't avoid it. He's still left with WAY more than enough to be required to pay.

 

[Island Visitor]

Re: Buffett quote

No question about it: Money corrupts OTHER people.

That is why you use it in your own lifetime but dont leave it to your heirs.

Wouldn't want to corrupt them.

Even so, it is an extraordinarily generous gift Monsieur Buffett is going to make - though I do not wish the day of his donation to be anytime soon - and it will benefit many.

Props.

 

[fins85258]

Re: Buffett quote

But it doesn't avoid it. He's still left with WAY more than enough to be required to pay.

Everyone might also take into consideration the fact that he's not going to avoid dying at some point in the future!

~~^~/\~

 

[onebigdawg53]

Re: Buffett quote

But it doesn't avoid it. He's still left with WAY more than enough to be required to pay.

But he'll be dead so he won't care. I guess he's going to have a mere usd 11 Billion left over when he kicks the bucket so his heirs will have to pay the estate tax and, poor devils, will only have a mere usd 8 Billion or so after the dreaded tax? I feel sorry for them.

 

[jhaney]

Re: Buffett quote

I believe this is just the beginning of his donations...He will continue to give away HUGE sums of money that will be directed as he or his designates choose...His estate will eventually pay a HUGE tax bill in $ not % when he dies and it will be a fraction of the percentage that the rest of us/our estates will pay at our passing...Fred is correct and the law of huge numbers should not mask it from everyone...He is getting to direct how he spends his money post death and the kids will all be extremely wealth as they manage the "smaller" foundations that will pay them and their families for generations to come...If and only if Mr. Buffet writes a check to the IRS for in excess of $15 billion does he/his estate have a leg to stand on in the "death tax" debate.

Gig 'em Fred.

 

[NYCFred]

Re: Buffett quote

<<<Everyone might also take into consideration the fact that he's not going to avoid dying at some point in the future!>>>


Well, might want to read Radical Evolution ...Joel Garreau states that we, at this point in time, are the first species on earth to literally control our own evolution, and that the combination of what he calls the GRIN technologies (Genomics, Robotics, Information technology and Nanotechnology) may well make immortality somewhat feasible...in fact, he goes so far as to say hang on for the next 20 years, because by then, we'll have cures/replacements for whatever ails ya.
Fascinating stuff....and god knows, ol Warren can afford it, too.

 

[jhaney]

Re: Buffett quote

wow I canreally kill a thread...guess you thought about it?

Andynap what is your tax plan? Do you agree that any/half should go to George due to timing?