How rich are hiding income and not paying taxes

Parent Cafe
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<p>No one ever said that any charity had to give away as much as it takes in every year. That would leave them bankrupt at some point. I have an idea for you…if you are really concerned - LOOK IT UP! If I look that up and give it to you then you will just find something else wrong. If you believed the sky was green no amount of evidence would convince you otherwise. It’s called being close-minded.</p>

<p>For the record, according to the Gates Foundation Financial Report they gave away a little over 2 BILLION dollars in 2007. They took in about 3 BILLION (if I read this right…not an accountant). I’m sure this won’t satisfy you as you will be sure they really didn’t give the money away to what you deem worthwhile causes.</p>

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<p>Actually all non-profit foundations have to submit such information to the IRS including pay. You can look it up online.</p>

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<p>pmrlcomm,</p>

<p>You are the one who said I had a used a bad example and attacked me!</p>

<p>Barrons,</p>

<p>Do you have a link to find that info?</p>

<p>Like I said before I have a friend who retired from a “Non-Profit” with an 8 figure$$$ bonus — over $10million!</p>

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<p>So you didn’t say this? Why didn’t you use the name of that non-profit as yoru example then?</p>

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<p>^ It’s an organization that has not disclosed the info.</p>

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<p>Bill and Melinda Gates. S had a great time and learning experience in India. I hope the he had done some good while there and that his ideas will be of great benefit to that hospital.</p>

<p>Thank You, for getting him home and to SeaTac from Switzerland, on one day’s notice. </p>

<p>Thank You, for his next internship, so much closer to home too. We hope that this internship will be like the last, in that he can qualify himself as a Contractor, and take all types of business deductions. </p>

<p>Can you make Seattle’s weather a little bit warmer than Oregon’s?</p>

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<p>It’s on their freaking website. How much more out there do you need it to be?</p>

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<p><a href=“http://dynamodata.fdncenter.org/990pf_pdf_archive/911/911663695/911663695_200612_990PF.pdf[/url]”>http://dynamodata.fdncenter.org/990pf_pdf_archive/911/911663695/911663695_200612_990PF.pdf&lt;/a&gt;&lt;/p&gt;

<p>Knock yourself out. Page 36</p>

<p>$500k for the director is perfectly fine.</p>

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<p>Thank you. I’m not sure I could even begin to understand this monster…but thanks for the info.</p>

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<p>Thanks for the info! Do know how to find this out on Rev. Wrights church?</p>

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<p>I don’t think churchs are covered.</p>

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<p>The retiring director for the Bill and Melinda Gates foundation, Patty Stonesifer, worked for -0- in salary during her 11 years with the foundation.</p>

<p>See page 32 at <a href=“http://dynamodata.fdncenter.org/990pf_pdf_archive/911/911663695/911663695_200612_990PF.pdf[/url]”>http://dynamodata.fdncenter.org/990pf_pdf_archive/911/911663695/911663695_200612_990PF.pdf&lt;/a&gt;&lt;/p&gt;

<p>Also, note that Patricia is joined by Bill III and his wife Melinda in receiving no compensation.</p>

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<p>barrons,</p>

<p>Churchs are “Non-Profits” just like the Gates Foundation.</p>

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<p>I’m not sure if church’s have the same definition. They are tax exempt because they are a religion. I’m not sure they are a non-profit. Anyone out there know the answer?</p>

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<p>Have you ever wondered that the super wealthy never complain about how wealthy they are but how difficult to give money away? </p>

<p>Have you noticed that the “rich” complain about paying taxes? </p>

<p>Have you notice that the wannabes are stronger advocates for less taxation than the wealthy and rich. </p>

<p>And the poor and middle-class debate how the wealthy and rich are to be taxed?</p>

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<p>I think only a small percentage of the very wealthy are concerned with how much they are taxed. I have seen quotes from several where they believe they should pay more. If they want to pay more they can always voluntarily send in a check…</p>

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<p>I think that is not true. The few quoted are off the charts on wealth. I just saw a report that under BO a person earning $600,000/yr would pay an additional $100,000 in income tax.(they already pay about $150,000) That is absurd. Most people who earn that kind of money–and there are lots of them in large cities, are very hardworking lawyers, consultants, business people, top sales people and the like. The people that work 80 hours week nearly every week. They are not coupon clipping trust funders or Paris Hilton who makes that much in a good week.</p>

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<p>“$600,000/yr would pay an additional $100,000 in income tax.”</p>

<p>And most likely a decent chunk of change for other taxes.</p>

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<p>Well, it is true that at least one notable (Buffet) have said that they think the rich should be paying more:</p>

<p>[Buffett</a> blasts system that lets him pay less tax than secretary - Times Online](<a href=“The Times & The Sunday Times: breaking news & today's latest headlines”>http://business.timesonline.co.uk/tol/business/money/tax/article1996735.ece)</p>

<p>Just in case you misread what I wrote, I’m not in favor of the rich paying more…</p>

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<p>^^yeah, but Warren also speaks from both sides of the aisle. On one hand, he politically supports inheritance taxes; on the other, he put much of his vast holdings in a non-profit trust (managed by his kids and another by Gates) to avoid the so-called ‘death tax’. If he was really serious about supporting inheritance taxes, why not let the feds take their piece first and send the net balance to the Gates Foundation thru his will after he dies? </p>

<p>I guess inheritance taxes are only good for the “man behind the tree.” :rolleyes:</p>