So Warren gifts his personal account shares to Bill & Melinda Gates to avoid death taxes. Then Bill & Melinda take the shares and sell them in the open market to fund their charity. Warren announces a buyback program. He buys the shares from the Gates in the open market and restocks them in the company. WTF??
there can be no such thing as a "death tax" or the country would be filled with immortals in prison. no dead person pays any taxes. the term "death tax" was invented by a republican advertising consultant from florida, who noticed that americans could give a rat's rumop about some phat cat's "estate."
This is just a way to maximise his gift. Lets just say he bought the shares at $10 each and they are now worth $30 a share. If he sold them and gave the money to Gates he would owe capital gains on $20 a share. By gifting the shares he avoids capital gains tax and by selling them Gates realizes the full market value without owing any tax. The fund can buy back shares on the market if the price seems good. I would assume by so many shares hitting the market at once, the price would drop and the fund would get a good deal. Everyone wins.
If Warren doesn't give away the bulk of his fortune, the Federal government will confiscate 55% of it. But if he gives it away, his family trust doesn't pay the government the estate taxes. Plus, he gets to controls where it gets spent. He obviously doesn't trust the government with his riches. Oh, but he tells you he doesn't pay enough taxes. You don't see the hypocrisy? Now regarding the Gates gifts, I was just sharing the irony of his giving away shares...only to buy back a chunk of it back. The company gets the shares back, the Gates get their cut...AND THE TAXPAYERS OF AMERICA GET ZILCH. (Oh, but he wants to pay more taxes. HA!)