Results 1 to 4 of 4
  1. #1
    singersp's Avatar
    singersp is offline PPO Newshound
    Join Date
    Sep 2005
    Posts
    52,212

    Bill Gates Loses Title Of World's Richest Man

    [size=13pt]Bill Gates Loses Title Of World's Richest Man[/size]

    Thursday March 6, 2008

    CityNews.ca Staff
    citynews.ca



    Poor Bill Gates.

    That sounds like an oxymoron, but it's not. It turns out the Microsoft founder has lost the one thing money can buy: his position as the richest man in the world...........

    "If at first you don't succeed, parachuting is not for you"

  2. #2
    Purple Floyd's Avatar
    Purple Floyd is offline Jersey Retired
    Join Date
    Dec 1969
    Posts
    16,646
    Blog Entries
    1

    Re: Bill Gates Loses Title Of World's Richest Man

    Buffet must have gotten some major Karma points from this:

    http://abcnews.go.com/GMA/MellodyHobson/story?id=2118501&page=1

    Warren Buffett, the world's second-richest man, is making an unprecedented donation to the foundation run by the world's richest man, Microsoft CEO Bill Gates.

    The donations, which will come from Buffett's Berkshire Hathaway shares, would amount to about $37 billion, based on current values.

  3. #3
    BloodyHorns82's Avatar
    BloodyHorns82 is offline Jersey Retired Feed The Frog Champion
    Join Date
    Jun 2006
    Posts
    9,691

    Re: Bill Gates Loses Title Of World's Richest Man

    Sounds like the title went to a deserving person.
    He can't even give it away faster than he is making it.

    I wish I had that problem.

  4. #4
    jmcdon00's Avatar
    jmcdon00 is offline Jersey Retired Snake Champion, Moto Trial Fest 2: Mountain Pack Champion, LL City Truck 2 Champion, Arithmetic sequence Champion, Troops Tower Defense Champion
    Join Date
    Aug 2006
    Posts
    8,275

    Re: Bill Gates Loses Title Of World's Richest Man

    In October, Buffett issued a challenge to members of the Forbes 400 richest Americans list, saying he would donate $1 million to charity if the collective group (or a significant number of them) would admit they pay less taxes, as a percentage of income, than their secretaries.

    Days after issuing the challenge, Buffett appeared before Congress to encourage it to keep the estate tax. Armed with a few Forbes 400 issues, he told lawmakers that "dynastic wealth, the enemy of a meritocracy, is on the rise."
    I have been saying it for years, rich people do pay alot of the taxes, but they don't pay as much as a percentage of income. By reinvesting it they really don't have to claim the income ever. Plus when they do sell shares they pay capital gains rates which max out at 15%. Plus they only pay social security and medicare on the first $100,000(actually a little less) of their earned income(15.3%).
    If the estate tax is eliminated they will be able to pass all of their stock on to whoever they want and no one will ever pay tax on it. Currently unless the estate is valued at more than $2,000,000 it doesn't hurt anyone.
    I have no problem with rich people, most of the time they are very good people who worked hard for their money, but I agree with Buffet that they are under taxed.

Similar Threads

  1. Moss says LeBron would be better than Gates
    By Vikes in forum General NFL Discussion
    Replies: 3
    Last Post: 05-27-2009, 01:15 AM
  2. The Richest People in the World
    By BadlandsVikings in forum The Clubhouse
    Replies: 6
    Last Post: 03-06-2008, 10:44 AM
  3. World's Tallest Man Meets The World's Smallest Man
    By Ltrey33 in forum The Clubhouse
    Replies: 12
    Last Post: 07-15-2007, 11:52 PM
  4. Vikes ink next Gates?
    By UndisputedVike in forum Vikings Offseason/Draft/FA Forum
    Replies: 60
    Last Post: 04-21-2007, 08:52 AM
  5. Gates.....take a seat.
    By Prophet in forum General NFL Discussion
    Replies: 8
    Last Post: 08-24-2005, 03:51 AM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •