Warren Buffett & Bill Gates

Originally posted by sh76
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).

how is it going to reduce his estate tax to zero?

(fortune at death - charitable donation) * estate tax rate = a good chunk of money.

Originally posted by zeeblebot
how is it going to reduce his estate tax to zero?

(fortune at death - charitable donation) * estate tax rate = a good chunk of money.

The charitable donations will be the vast majority of their assets. As such, the estate tax bill will be minuscule compared to what it otherwise would have been without the charitable deduction.