Was Warren Buffets hand out to Bill Gates a tax break? How does that help the poor?

Question

You all know it was a smoke screen, so don't dumb anybody here. If they give to foriegn Countries the money trail is even more lost and the Africans still die as they are now.

Answer 1

Jenny it was a definite 50% tax shelter, that's the end of that. It's not illegal to do and just more of the same. I wonder why the conservatives wont just tell the truth, maybe they really aren't smart at all. I just didn't appreciate all of the Who Ha about it.

Answer 2

Damn I love the picture. But back to the question: Yes, it is absolutely a HUGE finger up the a$$ of the rank and file liberal cheer leader. He could have let the state sit until he died, at which point it would have been taxed 50% by the gov't and that wealth would have been re-distributed to the poor that liberals love so much. So what did he do? Well, he gives it to the Gates Foundation, avoids all taxes, and now a huge chunk of the money goes to foreign aid (which is still a good thing), but screws the people in THIS country, from which he has benefited from so much.

Answer 3

The donation was to the Bill and Melinda Gates' Foundation not to Bill Gates himself. According to what I've read, this act was the largest charitable donation in our country's history. Warren Buffett must have felt that foundation would allocate his money to aid in some humanitarian effort that was in line with his wishes. I believe it may be used for medical research. This research helps everyone--poor and rich alike. I have no idea if this donation resulted in a tax-break for Warren Buffett but I do think that would be out of line with his philosophies (ex. he is a proponent of inheritance tax).

Answer 4

It don't think it really gets to the real poor people that actually need the money.I don't think it was a tax break either these guys are wealthy gentlemen I don't think they care about taxes.Who knows were the money is really being spent only bill gates knows the answer to that.I think it goes more out of seas then the U.S.were it should be going.

Answer 5

It will help the "POOR" schools. They will now get billions of dollars worth of new Vista OS computers. Wouldn't want the "POOR" children to have to suffer using XP machines. Would you?

You know how "POOR" the schools are, don't you? We only get taxed to the average tune of $6,500.00 per student per year. But wait, I'm sorry. I should not have said that. After paying the extremely large salaries of the school Administration, the teachers pay and money spent on students only uses about $1,500 of the $6,500. So maybe they are "POOR" and need the new computers.

Answer 6

he gave it to the bill and melinda gates foundation, because he is getting old, and he will eveuntally die. he gave it to them because he (bill gates) will be taking the role of running his organization fully. it will help a lot of causes not just the poor. it was not a tax break cause the government isn't going to give it all back. that and it was stock

Answer 7

I think Buffett was trying to donate his money to a proven charity that knows how to really spend it (the Bill Gates Foundation has almost no overhead, did you know that?) and to keep his own workers from becoming charity cases, as would happen if his company's stock became devalued.

Answer 8

Who is responsible for the poor - Bill Gates - no, each person is responsible for themselves. If you want to be rich - then work for it - don't depend on the rich to pay taxes so you can have money.

Answer 9

If you have to hire Bill Gates to give your money away, do you worry about taxes.? He didn't give the money to Bill Gates he gave to the Gates' charity foundation.

Answer 10

I don't think anyone has done anything to give the middleclass a tax break. Soon there will be only the poor and the rich.

Answer 11

Yes I believe the ridiculously rich should pay a bigger tax and quit with their "Tax Breaks"