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Message from discussion George Lucas donating Lucasfilm sale proceeds to charity
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Tom  
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 More options Nov 5 2012, 10:08 pm
Newsgroups: rec.arts.tv, rec.arts.movies.past-films, rec.arts.movies.current-films
From: Tom <drso...@aol.com>
Date: Mon, 5 Nov 2012 19:08:30 -0800 (PST)
Local: Mon, Nov 5 2012 10:08 pm
Subject: Re: George Lucas donating Lucasfilm sale proceeds to charity
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On Nov 5, 10:02 am, JRStern <JRSt...@foobar.invalid> wrote:

> On Sun, 4 Nov 2012 19:24:56 -0800 (PST), Tom <drso...@aol.com> wrote:
> >This is really incredible...

> >http://www.classwarfareexists.com/george-lucas-donating-4-billion-fro...

> >Tom

> Well, that's nice.

> Will George still have enough cash to buy groceries?

> Actually it's not all quite as selfless as you might think.  Avoids a
> lot of taxes.  You put it in a foundation, then the foundation pays
> you a management/consulting fee (so you can buy groceries, and houses,
> and private jets), pays your kids and friends and neighbors consulting
> fees - the money in the foundation still buys stocks and bonds but now
> the profits are all tax-free.  Nice, huh.

> This is instead of paying taxes, where the money might help with
> schools and stuff in the normal matter.  Instead, working folks pay
> with their taxes, cuz they don't have private foundations to hide
> their money in.

> J.

Sounds like what Mitt Romney did with the Mormon church to avoid taxes
from 2002 to 2009.

Tom


 
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