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Gates’ Billion Dollar Leftism, Part Three: Tax Shelter or Philanthropy?

Posted on May 29 2010 8:00 pm

On Rush Limbaugh’s show of May 28th, he spent a great deal of time talking about how the progressive elite use foundations. He was responding to Hillary Clinton’s call for the wealthy to pay more in taxes and be more like Brazil (apparently, our new role model.) Rush suggested that Hillary did not have to worry about paying these taxes herself, as they have a lot of money tucked away in their foundations where they will not be taxed.

This is just another problem with the Bill and Melinda Gates Foundation to consider, along with all the other mega foundations, and it’s a pretty big one.  Although it would be unfair to accuse them of forming a foundation for financial reasons only, it sure doesn’t hurt. By doing this, you are in essence withholding taxes and seeing that it is spent in the way you want it spent. That sounds like a better gig than the Federal Reserve even has!

My focus in writing this series is to consider the progressive and perhaps even irresponsible areas where huge amounts of foundation money are going, rather than being taxed, and the effects it can have on everyone. Of course, eliminating tax deductions across the board and going with a flat tax would wreak havoc on this scheme, which may be a big reason why you never see any action on a flat or fair tax structure.

I think most would agree that the big foundations are both tax shelters and philanthropic. You have to consider, though, whether you want to continue to allow the progressive elite to divert millions of tax free dollars into their pet causes and candidates, especially in these tough economic times.  As we lose more and more control, those in power will gain more and more through increased taxes on the average Joe and control of foundation money. They don’t necessarily have to be elected to run your life.

In Part Four, we’ll take a look at the Gates support for the huge, worldwide microloan scheme.

10 Responses leave one →
  1. May 29, 2010

    Bill Gates, buffet, and soros are free to give all they want to the federal government, good for them. They are wrongly concerned with other people money.

  2. May 30, 2010

    Bill Gates also funds the Gulen Islamist movement according to Islamization Watch,: "…..The Fethullah Gulen movement, which seeks to restore the Ottoman Empire, has found a friend and benefactor in Bill Gates of Microsoft fame. Mr. Gates is ranked the third wealthiest person on planet earth.
    In 2007, through the Texas High School Project, the Gates Foundation shelled out $10,550,000 to the Cosmos Foundation, a Gulen enterprise that operates 25 publicly funded charter schools in Texas.
    The Internal Revenue Service Form 990 for Cosmos shows that the Cosmos Foundation received $41,570,721 from taxpayers.
    At present, there are 85 Gulan madrassahs (Islamic schools) in the United States, and all operate with public funding….."

  3. May 30, 2010

    About Brazil (since Hillary likes it so much), I understand that to live there you need to have a fence around your house with barbed wire around the top and a top of the line security system. Oh-and do not go driving around because there is a better than not chance that you could be car jacked. (This is all from a woman who just moved back to the U.S. from there.) I don't know about you but Brazil does not sound like such a great model to me.

    • May 30, 2010

      That may possibly be so but it has created a thriving armoured car industry It is the only place in the world – and have been to most parts – where I have seen a showroom for them.

  4. May 30, 2010

    Liberals/progressives always talk about taxing the rich. But that is a canard. The rich do not, for the most part, make an income therefore taxing (income) them is just a ruse. If progressives were really concerned about the rich not paying their fair share, they would argue for a wealth tax. But they don't because the majority of the uber rich are progressives or at least truly liberals. And they finance the left wing foundations, 527s and other causes.

    What I would like to see in a GOP controlled Congress and Senate is a wealth tax and make it progressive on assets above $350 million with no loopholes or exemptions. Let's see the progressives whine about that. Also all charities/foundations (Heinze/TIdes, ACORN, Soros' groups -like CAP, MM,-MacArthur, Ford, etc) with political missions should be taxed at 90%, all 527s at 90% and all union and lawyers/law firms at 90%. That would dry up the influence of left wing money influencing our elections.

  5. May 30, 2010

    Politicians of all stripes are in the TAX Saving Business for themselves and their Foundations. You can bet the bank Bill and Hillary have never paid the proportational amount of taxes placed on Middle Class Americans. The Redistrubition of Wealth is the biggest lie perputrated on all of the willing idiots in America.

  6. May 30, 2010

    The idea of a flat tax has been talked about for years and yet nothing has ever been done. I am sure that the Pelosi/Reed/Obama gang would never allow it. I read that she makes $243K per year and a freshman in congress makes $139K per year. Tlhis does not include the special allowances for travel, housing, staff, (bribes and kickbacks?) and such. Is it any wonder that they fight so hard to be elected? Is there a chance that we may see a flat tax soon? I doubt it.

  7. May 30, 2010

    At the moment, I am reading Robert Ludlim's novel, The Bancroft Strategy. I do not have to wonder where he got the ideas he used to tell this story for is has a familiar ring to events being played out in the real world.

    I must cite the fact that there are many foundations present that claim to be helping impoverished nations. I just wonder why I really do not see any apparent results from the past thirty years. It makes me wonder about the real motives, that's all.

    And, thanks to many writers of recent suspence novels; I know I am not alone with that thought.

  8. May 31, 2010

    Tax wealth instead of income and watch the rats desert the ship. I`ll bet that would shut Hillary`s loud mouth along with all the other "fat cats". I would love to see Soros have to pay 90% on his ill-gotten gains. It would be interesting to see which "pig" squeals the loudest then.

  9. May 31, 2010

    Wealth tax? That 's an interesting thought. A 90% wealth tax would probably bail out our entire deficit. But what would happen after the first year? After three years their net worth would only be 0.1% of it's current value. They would no longer be able to feed their wealth into the economy. They'd barely be able to give Christmas bonuses to their staff. Our nation's Country Clubs would go out of business. Who would support the illegal immigrants who are cleaning up after them? Not only would we have to bail out all of the "little people" who live to service the rich, but we'd probably have to give the now destitute rich folks tax credits as well. Hmmmmm. Maybe one of those promising Harvard Economics Ph.D. candidates could use a Gates Foundation Grant to figure out a way to make that work to the benefit of the wealthy.

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