I'm speechless. Is the Age of Asparagus here at last?
40 Billionaires Pledge to Give Away Half of Wealth | General
40 Billionaires Pledge to Give Away Half of Wealth | General
Gates and Buffet have been working on this for some time. However, it may not be quite so generous as it first seems. The USA has fairly steep inheritance taxes and as a result most of the wealth these billionaires have would be taxed away from them anyway. Here is a table of estate taxes in the US and this does not count inheritance taxes levied by states.
Chances are that the Warren Buffet's of the world have already taken steps to shelter that wealth from the tax man.
Never overlook the fact that such "gifts" are tax deductible.
Why not? I'd think Gates, Buffett, etc. could maintain their lifestyles with half of what they have.I'm speechless. Is the Age of Asparagus here at last?
40 Billionaires Pledge to Give Away Half of Wealth | General