Thanks for comments, however I not critique him or his moves. I was merely pointing out the nature of his strategy as a consequence of I.R.S code and how it reforces behavior which in America concentrates wealth via philanthropic industrial complex, which is unique to America in its breath & scope. But still while the Gates Foundation ha…
Thanks for comments, however I not critique him or his moves. I was merely pointing out the nature of his strategy as a consequence of I.R.S code and how it reforces behavior which in America concentrates wealth via philanthropic industrial complex, which is unique to America in its breath & scope. But still while the Gates Foundation has received majority of his wealth so far, his children will be one of the richest family in the world. All because of how the tax code is structured, they have indefinite access to low cost capital. And as long as they maintain the minimum distribution of 5-10%-which they should giving their history of running charitable organizations-they will forever be maintain.
Buffett has said that the trust will be self liquidating within a decade. You’re wrong about the Buffett family someone benefiting from the foundations in any meaningful way. Buffett specifically does not want some bloated perennial foundation. He says so explicitly in the latest press release and on many other past occasions.
Yes that's what he said. And that trust is separate from the trust each of his children runs which have been seeded with BRK shares from their grandfather, mother, & Warren himself and which he doesn't really have a say in. So to say they haven't benefited is a stretch. I review Howard's endeavors more than his other children & his foundation has granted 1.1 billion dollars over the past 20 years while simultaneously receiving 100-150 millions from the Orcale alone over that duration. From the foundation latest annual report the the President makes $602,140 per annum-which he is not & CHOSE not to take a salary-which is in the 1% of wage earners in the country. Chosing not to take a salary is not the same as not benefiting it's a choice. Plus we haven't touch on other benefits like social or political capital.
Thanks for comments, however I not critique him or his moves. I was merely pointing out the nature of his strategy as a consequence of I.R.S code and how it reforces behavior which in America concentrates wealth via philanthropic industrial complex, which is unique to America in its breath & scope. But still while the Gates Foundation has received majority of his wealth so far, his children will be one of the richest family in the world. All because of how the tax code is structured, they have indefinite access to low cost capital. And as long as they maintain the minimum distribution of 5-10%-which they should giving their history of running charitable organizations-they will forever be maintain.
Buffett has said that the trust will be self liquidating within a decade. You’re wrong about the Buffett family someone benefiting from the foundations in any meaningful way. Buffett specifically does not want some bloated perennial foundation. He says so explicitly in the latest press release and on many other past occasions.
Yes that's what he said. And that trust is separate from the trust each of his children runs which have been seeded with BRK shares from their grandfather, mother, & Warren himself and which he doesn't really have a say in. So to say they haven't benefited is a stretch. I review Howard's endeavors more than his other children & his foundation has granted 1.1 billion dollars over the past 20 years while simultaneously receiving 100-150 millions from the Orcale alone over that duration. From the foundation latest annual report the the President makes $602,140 per annum-which he is not & CHOSE not to take a salary-which is in the 1% of wage earners in the country. Chosing not to take a salary is not the same as not benefiting it's a choice. Plus we haven't touch on other benefits like social or political capital.