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Buffett Gives Kids Foundations $3 billion

No, what your presence in this thread has been about is you being on your usual tyrades against buffet.
When Buffett stops the crap I'll stop the "tirades".
You must really be bothered at the notion that one of your revered 'job creators' as you've called them, has asked for others like him to play bigger roles in their societies by giving away their money.
I always have a problem with people trying to tell others what to do with their money, I couldn't care less about the Gates pledge though since it's a request.
So you find a place where less than 10% of his net-work could be used in a less than ethical manner and all of the sudden his "hypocrisy" is a fact. Spare me the partisanship.
He is unethical, he supports laws that favor Hathaway, such as a certain piece of legislation favoring railroads BH had money in, he is a tax dodger in the very vein of the left's complaints and in ways that make me cringe, there was that tax matter with the IRS, and so many other ways they manipulate the market in their favor. But I'm the bad guy?
 
I'll withhold my judgement until I know just how much these charities spend.
The thing about charities most people don't realize, is that there is no legal obligation to spend X% of money on their causes.

They can literally spend no money on the causes they advocate for.
 
And that pay them well. Let's not forget that Buffet could have given to other charities without any gain to himself, but shelter his kid's inheritance through their foundations. Had anyone else but the poster blimp Buffet done this the same people defending the jackass would be demanding prison terms for him. Like I have said here if his nose is clean whatever but if he broke one law or screws up the scheme I hope he gets every second of punishment.

You don't have a clue about how a charitable foundation is run or the laws that govern their finances.You think Buffets chlidren should be paupers?
On the other hand, demonzing the wealthy is a good thing. If Buffet does it for you, that's just fine.
I would love to put those Koch Bros. in jail too. I'm sure they have broken enough laws to put them away for a long time.
 
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You don't have a clue about how a charitable foundation is run or the laws that govern their finances.
Take the attitude somehwere else. I was in the financial industry, and have known plenty of wealthy people and their employees who ran charitiable orgs. I do know how they work very well and you assume too much.
You think Buffets chlidren should be paupers?
Never said that, what I have said is Buffett is a hypocrite for saying his kids get nothing and that people should be taxed more, while denying their own kids inheritance, and then channelling money to his kids through a shelter.
I'm tired of Buffett being heralded by the people who demonize others for doing everything this clown does. And I'm tired of this economic cheater being treated like some kind of genius, he's not.
On the other hand, demonzing the wealthy is a good thing. If Buffet does it for you, that's just fine.
It's not his wealth, pay attention.
 
I'll withhold my judgement until I know just how much these charities spend.
The thing about charities most people don't realize, is that there is no legal obligation to spend X% of money on their causes.

They can literally spend no money on the causes they advocate for.
I have a problem with the double standard, Buffett is one of the most unethical money men in our time, right up there with George Soros. There are laws passed that created monopolies for Buffett's Berkshire Hathaway corp., market manipulation, and outright tax dodging but he gets a pass because he tows the extreme left positions and talking points. If a Republican/conservative/libertarian did the same thing people would be calling for a firing squad, and frankly I would be saying the same thing. I love when people can make millions and billions ethically, Buffett isn't that, as well he could have given that money to any charity, kind of funny it went to those run by his kids.
 
Take the attitude somehwere else. I was in the financial industry, and have known plenty of wealthy people and their employees who ran charitiable orgs. I do know how they work very well and you assume too much. Never said that, what I have said is Buffett is a hypocrite for saying his kids get nothing and that people should be taxed more, while denying their own kids inheritance, and then channelling money to his kids through a shelter.
I'm tired of Buffett being heralded by the people who demonize others for doing everything this clown does. And I'm tired of this economic cheater being treated like some kind of genius, he's not.
It's not his wealth, pay attention.

Let's see...... a man gives $3 billion to charity and you think he should be jailed for it? I never heard him say that his kids would get "nothing", just that they will not inherit the bulk of his dynasty.
Is that what he should be jailed for? Stating that an aristocracy of the rich is unamerican?

Do you think our forefathers would rebel against the European aristocracy of the land to replace it with another even more pervasive aristocracy?
 
Let's see...... a man gives $3 billion to charity and you think he should be jailed for it? I never heard him say that his kids would get "nothing", just that they will not inherit the bulk of his dynasty.
Is that what he should be jailed for? Stating that an aristocracy of the rich is unamerican?

Do you think our forefathers would rebel against the European aristocracy of the land to replace it with another even more pervasive aristocracy?

Please point out where he called for jailing Buffett?
 
Let's see...... a man gives $3 billion to charity and you think he should be jailed for it? I never heard him say that his kids would get "nothing", just that they will not inherit the bulk of his dynasty.
Is that what he should be jailed for? Stating that an aristocracy of the rich is unamerican?

Do you think our forefathers would rebel against the European aristocracy of the land to replace it with another even more pervasive aristocracy?
Plenty of people have been convicted for charity fraud, it's called tax evasion. I don't know yet if he's done that or not but you didn't address the unethical practices Buffett engages in that you would flame any Republican or independent for, now if Buffett doesn't cross a "t" properly, IOW makes 1 mistake in his tax sheltering I hope he gets nailed on it, at his age it's life in prison. See, I actually hold people accountable.
 
Please point out where he called for jailing Buffett?
If it can ever be proven Buffett broke the law, or if he screws a scheme up and violates a law I want him fully accountable legally. I don't want him jailed "just because", but Buffett is one of the worst market manipulators and ironically he's a favorite money man on the left, more favored than people who play by the rules.
 
Plenty of people have been convicted for charity fraud, it's called tax evasion. I don't know yet if he's done that or not but you didn't address the unethical practices Buffett engages in that you would flame any Republican or independent for, now if Buffett doesn't cross a "t" properly, IOW makes 1 mistake in his tax sheltering I hope he gets nailed on it, at his age it's life in prison. See, I actually hold people accountable.

LOL Only if you disagree with his politics though. Romney taking amnesty for his illegal Swiss account is just fine with you. The Koch Bros, funding pseudo science "studies" disproving global warming is OK with you too. You just hate when rich people act out of patriotism and generosity because it make the greedy SOB's on your side look bad.
 
I have a problem with the double standard, Buffett is one of the most unethical money men in our time, right up there with George Soros.

There are laws passed that created monopolies for Buffett's Berkshire Hathaway corp., market manipulation, and outright tax dodging but he gets a pass because tows the extreme left positions and talking points.

If a Republican/conservative/libertarian did the same thing people would be calling for a firing squad, and frankly I would be saying the same thing.

I love when people can make millions and billions ethically, Buffett isn't that,

as well he could have given that money to any charity, kind of funny it went to those run by his kids.
And yet you haven't provided a single instance in which this assertion would hold true, outside of the keystone project (which happened to be shot down due to a variety of circumstances and objections.)

Don't make us beg now, by all means bring to light the legal measures taken to ensure Buffet could create vast market monopolies, you'll understand if we don't take your word as gospel given the sheer lack of factual evidence brought forth thus far.

Birds of a feather, I suppose.*

Surely you realize that Buffet's success isn't constrained to your recent memory? His investments have been outperforming the market at large at a fervor pace for decades.

You should be happy to know that he's also pledged tens of billions to the Gates foundation, a paltry sum indeed, but it's all he'll have left to spare after squandering that money to his kids charities.
 
And yet you haven't provided a single instance in which this assertion would hold true, outside of the keystone project (which happened to be shot down due to a variety of circumstances and objections.)
Sure, the keystone project, which hurts the consumers, but it's fine because the rails that liberal friendly Buffett owns make more money. You don't see hypocracy there?

Don't make us beg now, by all means bring to light the legal measures taken to ensure Buffet could create vast market monopolies, you'll understand if we don't take your word as gospel given the sheer lack of factual evidence brought forth thus far.
I'm going off memory, but you don't think transportation manipulation is unethical?

Anyway, it's been real ladies and gents, but I think people can see the double standard here, if anyone wants to actually debate the issue let me know.
 
Sure, the keystone project, which hurts the consumers, but it's fine because the rails that liberal friendly Buffett owns make more money. You don't see hypocracy there?

Anyway, it's been real ladies and gents, but I think people can see the double standard here, if anyone wants to actually debate the issue let me know.
Keystone just so happened to be delayed in part to objections levied by a Republican governor, meaning that more than Buffet's interests were at play in this particular scenario.

There's a few pages worth of material that you could take a stab at.
 
Yes and it just so happened to be blocked in part to objections levied by a Republican governor, meaning that more than Buffet's interests were at play in this particular scenario.

There's a few pages worth of material that you could take a stab at.
The thread isn't about anyone but Buffett, thanks for playing.
 
The thread isn't about anyone but Buffett, thanks for playing.
Ah yes, declaring victory while simultaneously providing not one iota of evidence to support your claims, and subsequently exiting the thread. The virtual equivalent of receiving a medal of valor for being shot in the hindquarters.
 
Alright can anyone not find the parallels between Buffet and Romney?
Buffet is being called scum for "legally tax dodging" which Romney also has done
The difference between the two is Buffet is the one who has pledged to give away 99% of his wealth...

Er hm, aren't YOU one of the ones ready to excoriate Romney for the way he pays taxes? But Buffett, whose pledge is meaningless and mostly a tax dodge as evidenced here, he's a fine fellow, right?

Pot, kettle, black.
 
Ah yes, declaring victory while simultaneously providing not one iota of evidence to support your claims, and subsequently exiting the thread. The virtual equivalent of receiving a medal of valor for being shot in the hindquarters.
I'm not exiting anything, but I am not playing anyone's games either. If you want to discuss the thread fine, if you want to play politics it's goodbye.
 
Yeah, I missed that. So you think he hasn't used our perfectly legal tax code to shift money then? I think you would be wrong. Blame Congress. Do not blame the people who take advantage of the ridiculousness that is our current tax code.

And here are the enormous benefits of charitable foundations:

We have a tax code like Mexico has a drug enforcement agency.
 
We have a tax code like Mexico has a drug enforcement agency.

Thanks, that was funny as hell. In a weird twist, at one time we sent the IRS into Mexico to teach them how to setup a proper tax system. :mrgreen:
 
Thanks, that was funny as hell. In a weird twist, at one time we sent the IRS into Mexico to teach them how to setup a proper tax system. :mrgreen:

That's even funnier!!! Probably an even trade though. They share the powder and we share the blanket.
 
Er hm, aren't YOU one of the ones ready to excoriate Romney for the way he pays taxes? But Buffett, whose pledge is meaningless and mostly a tax dodge as evidenced here, he's a fine fellow, right?

Pot, kettle, black.

You attack Buffet upon the grounds he evades taxes, yet Romney-the man vying for POTUS can shelter his money anywhere and "rig" his IRA and do many other tax dodges is defended
Before you attack look at your own position..look at your own hypocrisy-Lamid same applies to you

What does it mean that Buffets pledge is meaningless..is it blasphemous to donate billions of dollars?
 
If more of these billionaires were this generous, we wouldn't need so much taxation.

Deducting charitable contributions is the kindest way to avoid taxes. It's true that some foundations pay their directors handsomely but unless you know that is the case here, what he has done is marvelous.

That. Right there. There is no evidence of foul play here. Only that Buffet donated to charities run by people that he knows and trusts. Because some people don't like Buffet and what he advocates, they are assuming that there is something duplicitous here. They're quick to point out that the head of a charity can be paid a salary from that charity as an employee. And they assume that the majority of these donations will be spent that way. But there's no evidence of that. If that happens, we'll all be rightfully pissed off. But to condemn this move before any such thing happens is stupid. It's just partisan hackery because he's an example of what the rich in this country ought to be doing, instead of wallowing in their money like Scrooge McDuck.

I'll withhold my judgement until I know just how much these charities spend.
The thing about charities most people don't realize, is that there is no legal obligation to spend X% of money on their causes.

They can literally spend no money on the causes they advocate for.

And a lot of them don't, which is why relying on private charity over a legally enforced and overseen government program is foolhardy. One is accountable to the people through law, and the other is accountable to no one.
 
As usual, we must disagree

Private foundation are of less tax benefit than donations. They are also under a highly restrictive set of laws that guide any reimbursement to c0oonnected foundation management. Maybe Buffet could pay his kids $100K a year but he can't pay them $1M a year. Foundation file returns, just as we all do.

Now, smaller "non-profits" tend to push the envelope. The "owners" pay themselves a salary. They sometimes rent stuff from themselves or buddies. In short, there are dishonest ones who break tax (and ethical) laws. The worst offenders are Churches and the IRS is very suspicious of applications from Churches.

The odds that Buffet, Gates, Soros et al are setting up crooked foundations is highly unlikely. I'll venture to say that most large foundations are intended to do exactly what they say. They only have to use 5% of their money each year but why would they do that.

The reward in Foundations is the recognition. You get to go to parties at the "right" peoples homes etc.

Private Foundation are much more likely to be well run than the government. The government will spend half the mopney or bureacracy and is much more likely to be accessed for corruption by contractors they might use.

I realize you think the government should be all things to all people but that just isn't the case.


That. Right there. There is no evidence of foul play here. Only that Buffet donated to charities run by people that he knows and trusts. Because some people don't like Buffet and what he advocates, they are assuming that there is something duplicitous here. They're quick to point out that the head of a charity can be paid a salary from that charity as an employee. And they assume that the majority of these donations will be spent that way. But there's no evidence of that. If that happens, we'll all be rightfully pissed off. But to condemn this move before any such thing happens is stupid. It's just partisan hackery because he's an example of what the rich in this country ought to be doing, instead of wallowing in their money like Scrooge McDuck.



And a lot of them don't, which is why relying on private charity over a legally enforced and overseen government program is foolhardy. One is accountable to the people through law, and the other is accountable to no one.
 
I realize you think the government should be all things to all people but that just isn't the case.

No one thinks that. No one thinks the overboard generalizations that get slung around all the time in political discussions, and it's just a chicken$#@! answer to pretend that someone else is saying something they aren't so you don't have to face up to the idea that someone else's opinion has just as much justification as yours.
 
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