The thing you fail to realize is that Bill Gates and Warren Buffet both donate to their own charities. You obviously don't understand how uber-rich use the 501(c)(3) tax exemptions to keep wealth going on for ever and ever.

They donate millions/billions to their charities and put their family and friends as board members, then those family and friends are put on the payroll of the charity to "oversee" operations and philanthropy. They in return grow the billions and continue to make massive amounts of money in the name of "charity" or "humanitarianism". The best part is they are known of and thought of as "great humanitarians" but it's just a bunch of bullshit.

The best part about donating to their own charities is they avoid all taxes, get a tax credit on future earnings and the 501(c)(3)s aren't required to be audited. It's a win - win situation under the current laws, and if I was a betting man I would say that these laws won't change any time soon.

Just look at the Rockefellers, he amassed billions and most of which went to charity to keep the family legacy going on and on and on and on and on.

You keep bitching about the 1%, this is a prime example of that.

Edit: Pornbama clarified what I was trying to point out. These uber-rich fuckers use charities as tax shelters and shield themselves from taxes, and the rest of the world thinks its because they are doing it in the name of "charity"

@zwangaman No it isn't, but what is is spending very small portions of money on worthy causes to apear legitimate.

@stufff Yes, It benefits them in the short term because they get massive tax breaks for donations. It also benefits them in the long term because they keep the money in their family without the massive taxes it would normally incur to pass it from generation to generation. Do you really think it's fair for the 1% to keep their wealth till the end of time? Estate taxes were created to prevent a small group of people from always controlling most of the wealth but, with the introduction of the 501(c)(3) tax provisions they have been allowed to it. I'm also not saying that they're not doing enough but they are doing it for the wrong reasons.

@bag1234 Exactly, Buffet donates billions to his charities and receives tax breaks on his billions each year. It's a win - win situation for these people and I'm the one being criticized for bringing it up. Unbelievable.

@stufff You are arguing against wars and big government but are bitching at us about our criticism of the government enabling the rich to get richer? I don't understand your convoluted logic.

To everyone else, they may spend a small portion of money too seem legitimate but we all know that in 10-20 years when it's all old news they will be operating for the explicit reason for which they were setup, to keep the families wealthy. Yes Gates may have said that his children will only receive $10m, why would he give them any more? They will be on the payroll of the charities to the tune of tens of millions by the time they are adults.