Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
People who reinvest their inheritance help to create jobs. What other recourse is there, give it to Uncle Sam to flounder away?
People shopping at the supermarket create jobs.
This is what Warren Buffett said on 60 Minutes last night making the case for billionaires to give their money to charity instead of leaving it to their children:
Warren Buffett: Incremental wealth, adding to the wealth they have now has no real utility to them. But that wealth has incredible utility to other people. It can educate children, it can vaccinate children. It can do all kinds of things.
...
I don't really think that, as a society, we want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
This is what Warren Buffett said on 60 Minutes last night making the case for billionaires to give their money to charity instead of leaving it to their children:
Warren Buffett: Incremental wealth, adding to the wealth they have now has no real utility to them. But that wealth has incredible utility to other people. It can educate children, it can vaccinate children. It can do all kinds of things.
...
I don't really think that, as a society, we want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
Sure he gives money to "charity" only it's his three kids' charitable foundations that he plopped it in.
Each of his kids will end up with over $2 billion in their "charitable foundation" trusts with his latest donation.
While he also gives to other funds, the bulk of his money has gone indirectly to his kids.
This is what Warren Buffett said on 60 Minutes last night making the case for billionaires to give their money to charity instead of leaving it to their children:
Warren Buffett: Incremental wealth, adding to the wealth they have now has no real utility to them. But that wealth has incredible utility to other people. It can educate children, it can vaccinate children. It can do all kinds of things.
...
I don't really think that, as a society, we want to confer blessings on generation after generation who contribute nothing to society, simply because somebody in the far distant past happened to amass a great sum of wealth.
This is a true statement. At some point money does lose marginal utility. It isn't a billion. It's far less.
Aside from that, he's always asked his fellow billionaires to sign a pledge to VOLUNTARILY donate their fortunes.
Sure he gives money to "charity" only it's his three kids' charitable foundations that he plopped it in.
Each of his kids will end up with over $2 billion in their "charitable foundation" trusts with his latest donation.
While he also gives to other funds, the bulk of his money has gone indirectly to his kids.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
