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(UPI)   Good: Getting a $50 birthday gift from your dad. Better: Getting a $100 birthday gift from your dad. Best: Getting a $3 billion birthday gift from your dad   (upi.com) divider line 31
    More: Spiffy, Howard Buffett, Berkshire Hathaway, Warren Buffett  
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7101 clicks; posted to Business » on 02 Sep 2012 at 8:26 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-02 06:06:59 AM
Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?
 
2012-09-02 06:15:31 AM
My dad openly mocked me when he got the incurable lung cancer. "It's all mine son! I'm selling all this property and buying a sailboat! And spending every last cent I own on marina fees!"

Then he did just that.

I always did admire the old man's sense of humor anyway.
 
2012-09-02 07:49:13 AM

BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?


He's also the same guy that didn't just give $3 billion to his kids. He gave it to the foundations they run. Not quite the same thing.
 
2012-09-02 08:47:23 AM
Um, Dad? You're reading this, right?

Right?

...Dad?
 
2012-09-02 08:58:38 AM

BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?


Uhmmm...Wrong. First of all, he didn't "give it to his kids." Each of his kids runs a foundation that actually helps people. He gave each foundation $100 million. Where the article's $3 billion number came from is a mystery. I have to assume that the author is not a biased individual and that the actual gift is an annuity that gives each foundation $100 million a year for 10 years.
 
2012-09-02 09:03:54 AM
Republicans must really hate this guy. He sullies the whole "billionaire" name.
 
2012-09-02 09:10:08 AM

BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?


Where did you ever get that notion from? Buffet supports higher taxes on rich folk which is a sensible position. And his kids are all in their 50s. They've long come into their own with their own interests and successes and failures.
 
2012-09-02 09:48:03 AM

BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?


The actual quote (according to wikiquote) is:
'The perfect amount to leave children is "enough money so that they would feel they could do anything, but not so much that they could do nothing." '

So they can have some money as long as they don't turn into layabout trust fund brats, and actually get off their butts and go do work in some way. Since they've all set up seemingly successful charities, I'd say this fulfills this requirement, hence the major payday.
 
2012-09-02 09:57:15 AM

cmunic8r99: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

He's also the same guy that didn't just give $3 billion to his kids. He gave it to the foundations they run. Not quite the same thing.


Oh, please. The kids STILL control the money with the added benefit of Pere Buffet getting the tax benefits.

Yup, Warren has turned out to be just as greedy and manipulative as you would expected, his 'rich man-of-the-people' schick to the contrary.

And really, good for him, but he really is full of shiate.
 
2012-09-02 09:57:52 AM
hiding wealth in Family controlled charities.........hmmm
 
2012-09-02 10:05:40 AM

douchebag/hater: cmunic8r99: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

He's also the same guy that didn't just give $3 billion to his kids. He gave it to the foundations they run. Not quite the same thing.

Oh, please. The kids STILL control the money with the added benefit of Pere Buffet getting the tax benefits.

Yup, Warren has turned out to be just as greedy and manipulative as you would expected, his 'rich man-of-the-people' schick to the contrary.

And really, good for him, but he really is full of shiate.


I see the Reddit thing where a post reflects the descriptive account name has made it to fark.
 
2012-09-02 11:36:50 AM

Lost_in_Korea: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

Uhmmm...Wrong. First of all, he didn't "give it to his kids." Each of his kids runs a foundation that actually helps people. He gave each foundation $100 million. Where the article's $3 billion number came from is a mystery. I have to assume that the author is not a biased individual and that the actual gift is an annuity that gives each foundation $100 million a year for 10 years.


I think he gave 1 billion to each fund. He expects a 10% annual return, or $100 million dollars each year.

/might have read it wrong
 
2012-09-02 12:06:01 PM
Romney donating to the Mormon Church = Generosity and selflessness.
Buffett donating to foundations that he established and which have a track record of actually doing good worldwide while not spending millions on political issues and trying to deny rights to others = Tax Dodge

(an example of a right winger justifying his position on any given topic in the face of the facts: Link)
 
2012-09-02 12:13:52 PM
Getting a $2.00 birthday gift from my Dad would have made me happy. Cheap bastard.
 
2012-09-02 01:23:12 PM

Confabulat: My dad openly mocked me when he got the incurable lung cancer. "It's all mine son! I'm selling all this property and buying a sailboat! And spending every last cent I own on marina fees!"

Then he did just that.

I always did admire the old man's sense of humor anyway.


I like him already.
 
2012-09-02 03:12:48 PM
My parents are such cheapskates! I only got $2 billion this year. Thanks a lot, dad! You SUCK!!
 
2012-09-02 03:26:36 PM
I have a novel idea. Instead of giving 3 billion to these foundations, why not pay his tax bill from Berkshire Hathaway.
 
2012-09-02 03:45:29 PM

Confabulat: My dad openly mocked me when he got the incurable lung cancer. "It's all mine son! I'm selling all this property and buying a sailboat! And spending every last cent I own on marina fees!"

Then he did just that.

I always did admire the old man's sense of humor anyway.


My parents are the exact opposite, they are obsessed with passing on as much as possible to their kids; to the point that they do nothing but save money. Of the three kids, two of us encourage them to enjoy themselves. But one of my sisters chides them any time they spend any of their money. The strange thing is that she's worth more than all of us combined. It pisses me off. All of us are well off, and don't need my parents money, but the sister that tells my parents not to bother with dental work anymore, is a strait up 1%er.

I also get the feeling she's going to be a biatch to deal with when it comes time to settle the estate.

/I hope my parents die broke
 
2012-09-02 06:31:15 PM

Lost_in_Korea: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

Uhmmm...Wrong. First of all, he didn't "give it to his kids." Each of his kids runs a foundation that actually helps people. He gave each foundation $100 million. Where the article's $3 billion number came from is a mystery. I have to assume that the author is not a biased individual and that the actual gift is an annuity that gives each foundation $100 million a year for 10 years.


The $3billion number is the rough market value of all the stock he gave to the three foundations, or $1b each. The $100million number is the annual distribution from each $1b bundle of stock.
 
2012-09-02 08:02:49 PM

cmunic8r99: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

He's also the same guy that didn't just give $3 billion to his kids. He gave it to the foundations they run. Not quite the same thing.


Yes youre right, giving it to them would subject it to higher taxes so he gave it to the "foundation" so the tax burden is lessened.

Its amazing since the type of outrage this would bring if Bush or Koch brothers would have done the exact same thing would have been astounding and followed by cries "we need to tax these rich out of existence!!!!!" I guess thats only true if they have different political ideals than the rest of you.

BigBooper: But one of my sisters chides them any time they spend any of their money.


What a coont, I would rather have my parents than their money and our household would qualify as a 1%er house, I can speak for both of us that having them is more important than any amount of money.
 
2012-09-02 10:37:59 PM

steamingpile: cmunic8r99: BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?

He's also the same guy that didn't just give $3 billion to his kids. He gave it to the foundations they run. Not quite the same thing.

Yes youre right, giving it to them would subject it to higher taxes so he gave it to the "foundation" so the tax burden is lessened.

Its amazing since the type of outrage this would bring if Bush or Koch brothers would have done the exact same thing would have been astounding and followed by cries "we need to tax these rich out of existence!!!!!" I guess thats only true if they have different political ideals than the rest of you.


If the Kochs or Bushes want to give their money to foundations that help people, and lessen their tax burden in the process, I'm all for it.

What I'm not all for is making it sound like a his kids just got $3 billion in hooker-and-blow money, when the reality is nothing like that.
 
2012-09-02 10:56:37 PM
See, libs! Work hard, and you'll be so rich you just sit around running "charitable foundations" all day, and rolling around in your daddy's money, just like these hard working kids.

Remember: WORKING HARD leads to inevitable wealth.

(maximum wage now!)
 
2012-09-03 12:11:05 AM

dstrick44: Romney donating to the Mormon Church = Generosity and selflessness.
Buffett donating to foundations that he established and which have a track record of actually doing good worldwide while not spending millions on political issues and trying to deny rights to others = Tax Dodge

(an example of a right winger justifying his position on any given topic in the face of the facts: Link)


why go the "right winger" route? you were doing so well describing the commentary of everyday farkers regardless of their personal political beliefs/persuasion. but you had to let your personal hate shine through.
 
2012-09-03 12:58:08 AM

BronyMedic: Isn't this the same man who said he'd rather give his money to the Government, than give it to his kids and turned them into spoiled, entitled "old money" trust fund brats?


it is the same guy whose companies still owe the IRS over $1B. So I doubt he rather give the government anything.
 
2012-09-03 12:59:25 AM

Mugato: Republicans must really hate this guy. He sullies the whole "billionaire" name.


why? Republicans are big into giving money to charity. Check out the Koch brothers for example.
 
2012-09-03 02:11:52 AM

turtleking: hiding wealth in Family controlled charities.........hmmm


The IKEA model.
 
2012-09-03 04:10:47 AM
Hey Warren, end the charade. It is now clear that you are just giving your kids money without "giving" it to them. These "accomplishments" of your kids could be done better by half the world for $20/hour or less.
 
2012-09-03 04:18:41 AM

dstrick44: Romney donating to the Mormon Church = Generosity and selflessness.
Buffett donating to foundations that he established and which have a track record of actually doing good worldwide while not spending millions on political issues and trying to deny rights to others = Tax Dodge

(an example of a right winger justifying his position on any given topic in the face of the facts: Link)


Was President Kennedy's lowering of the top marginal tax rate a good move or not? Just checking.
 
2012-09-03 09:06:03 AM
wtf am i gonna do with $3 billion?

buys $3 billion worth of cocaine and calls the cops
 
2012-09-03 09:37:43 AM
Getting a $3 billion birthday gift from your dad

That means youre probably an asshole conservative that will run your mouth about bootstraps
 
2012-09-04 06:27:45 PM
I wonder if his granddaughter who talked about the family to the press got any?

(no)

Quel Surprise!
 
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