5 ms·

Non-profit entity is not the same as "charity". Most of the large non-profits operate on a percentage of the interest earned on a large endowment. It's essentia

Non-profit entity is not the same as "charity". Most of the large non-profits operate on a percentage of the interest earned on a large endowment. It's essentially a scam for the very rich and the banks. If the purpose of the entity were truly to benefit the needy, then they would operate directly on donations and not withhold so much funding from those in need. I specifically discussed sellers who are on the margin. While it can be difficult to know exactly how many of these are, I'm willing to bet this would result in a very real and measurable reduction in investment opportunity for Berkshire. If it were 10 businesses in a year at Buffet's stated minimum of $10 million annual net profit, then that would represent $80 million in annual revenue for Berkshire. In the world of big business, famous personalities, and politics, my position is to assume the worst case scenario, which is that the only reason someone like Buffet supports the death tax is because he profits from it. In this case, it is not a coincidence.

tim333 10y ago
>my position is to assume the worst case scenario If you always assume some extreme in the absence of evidence your assumptions are probably not going to be very accurate. There's a bunch of evidence Buffett is not like that.
- ChefDenominator 10y ago
  I like how you removed all of my prerequisites so as to completely change my position.
valuearb 10y ago
You sure make lots of questionable assumptions. First, Buffett's minimum pretax profit hurdle for potential acquisitions is $75M a year, not $10M. Those people tend to have the best legal help possible to avoid/minimize estate tax. Your opinions on mon-profit entities is anecdotal at best, all that matters for the purpose of the question at hand is how Buffets charitable contributions work and you haven't spent an iota of time learning about them, not that it stops your pontificating. I disagree with Buffett on estate tax, but that doesn't make me blindly question his motives. There is a whole world out there full of people who may surprise you if you take off your political blinders.

tim333 10y ago

>my position is to assume the worst case scenario If you always assume some extreme in the absence of evidence your assumptions are probably not going to be very accurate. There's a bunch of evidence Buffett is not like that.

ChefDenominator 10y ago
I like how you removed all of my prerequisites so as to completely change my position.

valuearb 10y ago

You sure make lots of questionable assumptions. First, Buffett's minimum pretax profit hurdle for potential acquisitions is $75M a year, not $10M. Those people tend to have the best legal help possible to avoid/minimize estate tax. Your opinions on mon-profit entities is anecdotal at best, all that matters for the purpose of the question at hand is how Buffets charitable contributions work and you haven't spent an iota of time learning about them, not that it stops your pontificating. I disagree with Buffett on estate tax, but that doesn't make me blindly question his motives. There is a whole world out there full of people who may surprise you if you take off your political blinders.