Warren Buffett & Bill Gates

What do you think of these two greats investing their fortunes in philanthropy?

Originally posted by Black Star Uchess
What do you think of these two greats investing their fortunes in philanthropy?

I think it's a perfect argument for limiting the gift/estate tax charitable deduction.

You cynic! I didn't think of it like that though...

I think its great, I'm not sure how best they can use the money.

Its an odd amount as it way to much to build an art gallery or public park like some do, but to little to be like a second WHO that Bill Gates seems to aspire to.

Some sort of fund for innovation would be good

Originally posted by Black Star Uchess
You cynic! I didn't think of it like that though...

I think its great, I'm not sure how best they can use the money.

Charity is all well and good, but the US government would stand to collect billions in estate tax from those two without the 100% charitable deduction. I don't see why my income tax should have to be higher so Bill Gates can decide which charitable causes are more worthy than others.

Let Gates do what he wants with his money, but there's no policy justification for allowing this choice to reduce his estate tax to zero (or almost zero).

Is interesting. I guess Gates & Buffett would say they can allocate the money more effectively.

Originally posted by Black Star Uchess
Is interesting. I guess Gates & Buffett would say they can allocate the money more effectively.

They'd just pay the tax and not complain. Those two are liberals.

Originally posted by Black Star Uchess
Is interesting. I guess Gates & Buffett would say they can allocate the money more effectively.

Then they should run for political office.

Maybe they should ... in the UK local councils are a great example of how govt waists / mis allocates resources. I think those two, especially with Buffetts skills could allocate resources better

They should donate the money to science, so science can more effectively solve the world's problems. 😉

Originally posted by KazetNagorra
They should donate the money to science, so science can more effectively solve the world's problems. 😉

Good idea...

after we get our cut though, in the form of a hefty estate tax bill

Originally posted by sh76
Good idea...

after we get our cut though, in the form of a hefty estate tax bill

I'm sure you wouldn't be surprised if I told you I agree.

Originally posted by KazetNagorra
I'm sure you wouldn't be surprised if I told you I agree.

not at all 😉

The tax thing is funny.. I didn't realise that. But I would like to see some sharp minds like them look at the charity sector.

One thing that bugs me is the way charity is so linked to advertising. e.g . MacMillan eclipse similar medical charity's in the UK, in fairness publicity is part of their job but charitys like that get disproportionate attention. Plus the animal ones - I wonder if you put a kitten and a baby on a poster which would get the most sometimes.

Maybe they could allocate funds better? I checked out their website and it looks like a work in progress.

Originally posted by Black Star Uchess
What do you think of these two greats investing their fortunes in philanthropy?

It's a lot more than Dick Cheney ever did!