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matthews_world
Joined: 15 Feb 2003
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 Posted: Tue Jun 27, 2006 1:34 am Post subject: |
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This thing is just a tax shelter. He'll keep most of it in Switzerland some where. He'll get brownie points from the feds in any other anti-trust legislation. They'll take this into consideration.
Samsung and Hyundai are supposed to have/or already made sizeable donations to society due to their illegal business activities but I doubt they have forked over the millions of dollars yet. |
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4 months left
Joined: 07 Feb 2003
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| Posted: Tue Jun 27, 2006 1:39 am Post subject: |
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| matthews_world wrote: |
This thing is just a tax shelter. He'll keep most of it in Switzerland some where. He'll get brownie points from the feds in any other anti-trust legislation. They'll take this into consideration.
Samsung and Hyundai are supposed to have/or already made sizeable donations to society due to their illegal business activities but I doubt they have forked over the millions of dollars yet. |
No not Switzerland!!! I doubt brownie points will come into play if he is investigated for anything. I read an interview with one of Buffet's kids who was pissed because they weren't getting much of an inheritance and from what I have read about him in the past, he is sincere in his donation. |
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Octavius Hite
Joined: 28 Jan 2004
Location: Househunting, looking for a new bunker from which to convert the world to homosexuality.
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| Posted: Tue Jun 27, 2006 2:00 am Post subject: |
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The Gates' are also very serious when it all comes to it. There's no need to hide it in Bush's America, he can pass it all without any taxes. He's doing this because his wife died. I mean the man has been living in the same house in Omaha that he originally bought for like $50,000 in the 50's or 60's. He didn't even ask that his name be attached to the money, he just gave it away.
God, people are so cynical these days, lol.  |
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Moldy Rutabaga
Joined: 01 Jul 2003
Location: Ansan, Korea
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| Posted: Tue Jun 27, 2006 4:08 am Post subject: |
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| Samsung and Hyundai are supposed to have/or already made sizeable donations to society due to their illegal business activities but I doubt they have forked over the millions of dollars yet. |
This is billions of dollars, not millions. It's a good thing to be wary of suspicious intentions, but there is no anti-trust or corruption investigation here; it's Gates and Buffett wanting to go down in history like a Carnegie or Rutherford, giving back something to the world. We should cheer that.
Ken:> |
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Bronski
Joined: 17 Apr 2006
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| Posted: Tue Jun 27, 2006 7:05 am Post subject: |
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| 4 months left wrote: |
| I read an interview with one of Buffet's kids who was pissed because they weren't getting much of an inheritance and from what I have read about him in the past, he is sincere in his donation. |
I saw most of the press conference. Warren Buffett said his kids are still getting about a billion each. So that means they could live off about 20-30 million a year for the rest of their lives once daddy dies (my math could be off, but anyway, it's a lot). If they're pissed about that then I have no sympathy. |
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Octavius Hite
Joined: 28 Jan 2004
Location: Househunting, looking for a new bunker from which to convert the world to homosexuality.
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| Posted: Tue Jun 27, 2006 5:07 pm Post subject: |
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http://www.cbc.ca/news/background/wealth/charitable-giving.html
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Charitable giving among the rich and the not so rich
The world's second richest man, investment wizard Warren Buffett, announces in June 2006 plans to give away nearly all of his $50-billion (Cdn) fortune to the Bill and Melinda Gates Foundation to help fight HIV, malaria and tuberculosis.
Bill Gates, co-founder of Microsoft Corp. and the world's richest man, says he's handing off responsibility for running his company so he can devote himself to his foundation effective 2008. Ken Thomson, the recently deceased media baron who was the ninth richest man in the world, is feted as one of Canada's greatest arts philanthropists in 2002, for giving $70 million to the Art Gallery of Ontario, along with his collection of more than 2,000 works.
Such acts of largesse make headlines because of the huge amounts of cash involved. After all, Buffett's pledge more than doubles the size of the Bill and Melinda Gates Foundation to roughly $75 billion (Cdn), more than the gross domestic product of Kuwait.
But, as a Statistics Canada survey released in June 2006 shows, low-income earners are no slouches when it to comes to charitable donations. In fact, those who earn the least tend to give away the most when measured as a percentage of income.
In 2004, those earning less than $20,000 a year gave away on average 1.7 per cent of their income. Those with household incomes of more than $100,000 gave away an average of 0.5 per cent.
"Isn't it fabulous?" says Lisa Hartford, spokeswoman for Imagine Canada, a non-profit group that sponsors research into philanthropy.
"My personal speculation is someone making less than $20,000 might be more aware of community need."
The survey shows that regardless of your snack bracket, motivation for charitable giving is always the same.
It's all about compassion toward people in need, or wanting to help a particular cause in which one believes.
The Statistics Canada survey, in partnership with Imagine Canada, showed that 85 per cent of Canadians aged 15 and older gave money to a charitable or non-profit organization in 2004.
Altogether, we donated nearly $9 billion, with a typical donation hovering around $120.
And 45 per cent of us over the age of 15 volunteered our time, giving a total of two billion hours, an amount equivalent to one million full-time jobs.
But as Hartford points out, the bulk of charitable giving comes from a narrow segment of the population: 21 per cent of Canadians provide 82 per cent of the value of all donations.
When it comes to volunteering, the story is the same. The top one-quarter of volunteers who contributed 180 hours or more accounted for 77 per cent of total volunteer hours.
"There's work to be done," Hartford says. "There are a few of us who are donating the most. More of us have to step up to the plate."
When we do give, the bulk of our donations are to religious organizations, which receive 45 per cent of our charitable dollars. Health organizations place a distant second at 14 per cent, followed by social service organizations at 10 per cent.
Those who give the most tend to be older, to have higher levels of education and income, to be married or widowed and to be religiously active.
The highest rates of volunteerism tend to be among youth, those with higher levels of household income and education, those with school-aged children and those who are religiously active.
And it would appear that most of us give money and time simply because we are asked.
According to the survey, we gave in response to requests through the mail, door-to-door canvassers or someone canvassing for a charitable organization at the mall or on the street. |
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4 months left
Joined: 07 Feb 2003
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| Posted: Tue Jun 27, 2006 5:24 pm Post subject: |
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| Bronski wrote: |
| 4 months left wrote: |
| I read an interview with one of Buffet's kids who was pissed because they weren't getting much of an inheritance and from what I have read about him in the past, he is sincere in his donation. |
I saw most of the press conference. Warren Buffett said his kids are still getting about a billion each. So that means they could live off about 20-30 million a year for the rest of their lives once daddy dies (my math could be off, but anyway, it's a lot). If they're pissed about that then I have no sympathy. |
You sure about that?? Doesn't sound as if his kids are getting a billion dollars - read below.
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As the waitress clears the plates and only minutes remain before Buffett embarks for Africa, I ask: Aren't you at all bitter about being cut off from all those billions of dollars?
"The truth is, if Dad loaded us with money, he could not help but control us. He let us go our own way. 'Find something you love to do,' he's always said, 'and do it. |
http://www.dyanmachan.com/buffett.html
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| Next, how much is enough for your children? Bill Gates said, "One thing�s for sure, I won�t give my heirs a lot of money because I know it wouldn�t be good for them." I know what you�re thinking; a little bit of Gate�s wealth is a lot of money. I like Warren Buffet�s perspective best: "I want to give my kids enough so that they could feel that they could do anything, but not so much that they could do nothing." I think that means enough to give them an edge in life, but not so much that you take away the edge. |
http://www.physiciansnews.com/finance/598.html
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| My kids are going to carve out their own place in the world, and they know I'm in for them whatever they do." But he refuses to bequeath them "a lifetime of food stamps just because they came out of the right womb. Daughter Susan says, "It's sort of strange when you know most parents want to buy things for their kids and all you ned is a small sum of money...He won't give it to us on principle. All my life my father has been teaching us. Well, I feel I've learned the lesson. At a certain point you can stop" |
From: Money Masters of Our Time by John Train |
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