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Billionaire Buffett to give away his wealth

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    El_Kabong wrote:
    hmm, sounds like an assumption to me ;)

    So you believe then that all estate tax payments are willing and that in their absence no one would give that money to charity?
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    One would infer from this statement that the without the estate tax more would be left to charity and the opposite is true.

    http://www.cbpp.org/8-3-04tax.htm

    Such an inferrence would be incorrect and without basis.
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    El_KabongEl_Kabong Posts: 4,141
    So you believe then that all estate tax payments are willing and that in their absence no one would give that money to charity?


    where did i say 'no one'?
    standin above the crowd
    he had a voice that was strong and loud and
    i swallowed his facade cos i'm so
    eager to identify with
    someone above the crowd
    someone who seemed to feel the same
    someone prepared to lead the way
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    Such an inferrence would be incorrect and without basis.

    It would be a common inferrence nevertheless.
    "Without the estate tax, many would leave more to charity."

    Many would assume your use of the word "many" in your statement to indicate significance, but study of the effect of estate tax repeal on charitable donations (which are tax exempt) demonstrates the effect you herald to be theoretical and proportionately minimal to the opposite effect.
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    duffyduffy Posts: 74
    I can't stand his song "Margaritaville".



    damn jimmy's probably wealthier than warren now.


    i saw warren's granddaughter on some show, cleaning houses. seems he's a bit stingy with his family. lol well, so be it. his perogative.
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    brain of cbrain of c Posts: 5,213
    he's giving it all to jimmy buffett.
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    El_Kabong wrote:
    where did i say 'no one'?

    You said I'm assuming that, without the estate tax, some people would individually give more to charity. I'm not assuming, however. I personally know some that would do so and it stands to reason that many more would as well.
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    SPEEDY MCCREADYSPEEDY MCCREADY Posts: 24,858
    brain of c wrote:
    he's giving it all to jimmy buffett.
    thats alot of margaritas and cheeseburgers.....
    Take me piece by piece.....
    Till there aint nothing left worth taking away from me.....
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    It would be a common inferrence nevertheless.

    Many would assume your use of the word "many" in your statement to indicate significance, but study of the effect of estate tax repeal on charitable donations (which are tax exempt) demonstrates the effect you herald to be theoretical and proportionately minimal to the opposite effect.

    Do you understand the difference between the words "all", "most", and "many"? I'm betting that most people here do.
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    El_KabongEl_Kabong Posts: 4,141
    You said I'm assuming that, without the estate tax, some people would individually give more to charity. I'm not assuming, however. I personally know some that would do so and it stands to reason that many more would as well.


    it also stands to reason that 'many' does not equal 'no one'
    standin above the crowd
    he had a voice that was strong and loud and
    i swallowed his facade cos i'm so
    eager to identify with
    someone above the crowd
    someone who seemed to feel the same
    someone prepared to lead the way
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    El_Kabong wrote:
    it also stands to reason that 'many' does not equal 'no one'

    Definitely. So do you take issue only with my use of the word "many"?
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    El_KabongEl_Kabong Posts: 4,141
    Definitely. So do you take issue only with my use of the word "many"?


    i'm not sure how 'many' i think would do it...wouldn't any $ given to charity be tax exempt, anyway?
    standin above the crowd
    he had a voice that was strong and loud and
    i swallowed his facade cos i'm so
    eager to identify with
    someone above the crowd
    someone who seemed to feel the same
    someone prepared to lead the way
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    El_Kabong wrote:
    i'm not sure how 'many' i think would do it...wouldn't any $ given to charity be tax exempt, anyway?

    Any money given to charity would be tax exempt, but many people give some to charity and some to family. If the family portion is enough, they must then account for the estate tax. Absent that tax, the charity portion could become larger.

    Again, in the interest of full discretion, of course a repeal of the estate tax would lessen overall charitable giving. But I'm not out to maximize charitable giving. If I was, why not just advocate a law that forces entire estates to be left to charity?

    I'm out to maximize personal choice. People earned that money through their lives. It should be up to them to give it to their children, a charity, or the state. It seems extra callous to send a tax collector after a corpse.
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    OutOfBreathOutOfBreath Posts: 1,804
    In other words folks, he agrees that the total will go down, although contributions may rise. (althou not enough to close the gap left by repealed taxes) And he advocates it on the grounds of personal choice. Fair enough, and I do not agree. :)

    Peace
    Dan
    "YOU [humans] NEED TO BELIEVE IN THINGS THAT AREN'T TRUE. HOW ELSE CAN THEY BECOME?" - Death

    "Every judgment teeters on the brink of error. To claim absolute knowledge is to become monstrous. Knowledge is an unending adventure at the edge of uncertainty." - Frank Herbert, Dune, 1965
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    In other words folks, he agrees that the total will go down, although contributions may rise. (althou not enough to close the gap left by repealed taxes) And he advocates it on the grounds of personal choice. Fair enough, and I do not agree. :)

    The man speaks the truth.

    Now, for anyone who wishes to answer, at what point does the personal choice of the dead get superceded by the choice of the state? Meaning, at what objective point does the dead man's wish no longer hold any bearing?
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    blackredyellowblackredyellow Posts: 5,889
    I wonder if he will take the standard deduction next year...
    My whole life
    was like a picture
    of a sunny day
    “We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
    ― Abraham Lincoln
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