 |
 | Search this Thread |
| 03-03-2011, 02:28 PM | #1 |
| Bravo, Bill Gates, Bravo!!!
I can't wait to get home and watch his full speech but he seems to be in line with how I feel about these issues. Governmental accounting principles are not very accurate compared to GAAP in representing liabilities and they are being abused left and right.  Quote: The Microsoft co-founder and philanthropist said state budgets have received a puzzling lack of scrutiny and have been "riddled with gimmicks" aimed at deferring or disguising the true costs of public employees' health care and pension obligations (snip) "[R]eally, when you get down to it, the guys at Enron never would have done this. This is so blatant, so extreme," Gates said of state governments' accounting practices generally. "Is anyone paying attention to some of the things these guys do? They borrow money -- they're not supposed to, but they figure out a way -- they make you pay more in withholding to help their cashflow out, they sell off the assets, they defer the payments, they sell off the revenues from tobacco." Gates argued that government accounting practices should be more like private accounting. (snip) "It really is the young versus the old to some degree. If you don't solve what you're doing in health care, you're going to be deinvesting in the young," Gates said. "With the kind of cuts we're talking about, it will be far, far harder to get these incentives for excellence or to move over to use technology in the new way." | |
| 03-03-2011, 02:48 PM | #2 |
Originally posted by mikemike  I can't wait to get home and watch his full speech but he seems to be in line with how I feel about these issues. Governmental accounting principles are not very accurate compared to GAAP in representing liabilities and they are being abused left and right. Bill Gates On States' Accounting: 'The Guys At Enron Never Would Have Done This' Quote: "We need to care about state budgets because they are critical for our kids and our future." You know pretty bold talk from a "monopolist" w/ a higher GDP then most countries....... USUAL burn down the house to save on heat........... AND let's not forget that teeny tiny office in, is it Nev. that allows him to NOT PAY STATE TAXES of millions of dollars....... no just a crook no matter what his charitable record.. BTW: how much of that is in the US of A??? Last edited by jeffkrol; 03-03-2011 at 02:55 PM. | |
| 03-03-2011, 03:39 PM | #4 |
|
Although not all states are created equal... Ezra Klein - What's going on with state budgets Quote: you have to disentangle cyclical deficits from structural deficits. Cyclical deficits are the deficits we're seeing right now, most of them primarily caused by the financial crisis. Remember that before Lehman Brothers fell, states had the largest rainy-day funds on record -- a sign that they were managing their money fairly well by historical standards. Structural deficits are the problems states face over the longer term. And they vary state to state. The paper concludes, for instance, that "California suffers from more of a spending problem than a revenue problem, a result of permanent spending increases that were introduced during years of economic expansion." On the other hand, Arizona is looking at more of a revenue problem. "From FY 1993 to 2010 the state cut all kinds of taxes, but 58 percent of the total reductions in nominal dollars came from the personal income tax; these reductions gave rise to a structural deficit that predates the current economic cycle." So this stuff is complicated. But "Structurally Unbalanced" is a good place to start trying to figure it out. | |
| 03-04-2011, 07:18 AM | #5 |
|
Hey, listen to the bean counters and bureaucrats... not studies and life experience or REALITY......  Quote: * Reduced class size provides students with many benefits: greater opportunities for participation, greater individual attention, and improved instruction. Conflicting interpretations and the implications for policy decisions at the local, state, and national levels make research on class size and teacher workload controversial. Yet, a current analysis of long-term studies and recent grassroots research reveals that class size does indeed have a major impact on student achievement, behavior, and attention (see Bracey, "Research"). * Student achievement increases significantly in classes of fewer than 20. Smaller classes, complemented by diverse teaching methods, create better student performance, more positive attitudes, and fewer discipline problems. Students and parents have the right to expect classrooms with these characteristics. (See Class Size Reduction in Freshman English Classes.) Oh right.. there just a guild....  and it's JUST English........ More than a Number: Why Class Size Matters EVEN in College my smaller classes (the Engineering Dept which was highly funded had really small classes a prof AND a full time TA)were much more productive. And thats w/ "adults" who "want to learn"... COMMON SENSE (yeesh why do I bother) tells you BOTH class size and teaching skills matter.... Last edited by jeffkrol; 03-04-2011 at 07:24 AM. | |
| 03-05-2011, 09:12 AM | #6 |
| Originally posted by jeffkrol AND let's not forget that teeny tiny office in, is it Nev. that allows him to NOT PAY STATE TAXES of millions of dollars....... no just a crook no matter what his charitable record.. BTW: how much of that is in the US of A??? If what he is doing is legal, they what you have is a problem with the tax system, and Gates is most likely taking advantage of something that was set up by one of your politicians at some point in the past to allow said politician to do this very thing. | |
| 03-05-2011, 09:32 AM | #7 |
| Originally posted by Wheatfield I'm curious, is he breaking any laws by keeping an office open in Nevada as a tax shelter or is it that you disapprove? If what he is doing is legal, they what you have is a problem with the tax system, and Gates is most likely taking advantage of something that was set up by one of your politicians at some point in the past to allow said politician to do this very thing. Of course even w/ the state "gimmes" somewhere someone will offer a bigger one. Keeping a corp from moving to "fertile ground" is like herding cats... AND for those hard core capitalists that feel business always pays he fair share: Quote: The state said about 50,000 businesses - or 10 percent of all registered businesses - are in arrears. Department of Revenue spokesman Mike Gowrylow said the businesses owe a total of $183 million in back taxes, which is higher than the state's average back-tax amount of $115 to $120 million. (The amount, however, is down from a peak of $243 million owed, in November of 2009). Best to read up on it: An Open Letter to Microsoft CEO Steve Ballmer: Quit Dodging Washington Taxes - Seattle News - The Daily Weekly Quote: Though based in Redmond, Microsoft reports all its software-licensing sales in Nevada where there is no tax on those transactions. A dodge which, based on Reifman's calculations, has cost Washington state something in the neighborhood of $1.24 billion over a dozen years. Of course now they want to "forgive and forget" w/ an "amnesty" http://boingboing.net/2010/02/14/broke-ass-washington.html  Quote: The post seems to focus on companies out of state doing business in Washington. It does not clearly address Microsoft which both has an extensive physical footprint in Washington and uses Nevada to record revenue in an attempt to evade Washington's B&O Royalty Tax. While we are in favor of clearer definition of Nexus in relationship to these taxes, it's important to focus on the potential illegality of Microsoft's existing accounting methods to dodge the royalty tax. We continue to believe Microsoft's historical behavior and current actions represent tax evasion and can and should be cracked down upon by the Department of Revenue. We are continuing our efforts to see that this happens and will report more on this as we are able to. PURE dodge and skirts the "intent" of WA law......... Even state gov. can't fight certain in state "to big to fail" companies....... FUNNY: Quote: The Tax Structure Study Committee, chaired by Bill Gates Sr., last week suggested replacing the B&O with either a corporate income tax or a value-added tax, similar to those imposed in Europe and Canada. Each of those options, however, presents its own difficulties. Any income tax would have to overcome high legal and political hurdles. VATs are complicated, and since no other state has one Washington would still have a unique tax system. But Gates is adamant that the B&O has long since outlived its usefulness. "The B&O tax is anathema to me," Gates said recently. "The notion of taxing businesses that are losing money just doesn't appeal to me, and talking about whether the rate should be 0.484 or 0.275 doesn't make any sense. We should just get rid of it." Last edited by jeffkrol; 03-05-2011 at 09:41 AM. | |
| 03-07-2011, 04:23 PM | #8 |
| Originally posted by jeffkrol 3billion will be removed from education and health services for the poor... Who's kids is he talking about??? Quote: citing California's ongoing budget crisis as an example of creative deficit spending and the subsequent cuts to education spending as an unacceptable cost. Quote: The former Microsoft chief executive, now the co-chair of the Bill & Melinda Gates Foundation, said youth and education programs stand to lose the most as a result of the gaping holes in state budgets. Where I disagree with Bill is that I believe the shortfall should be made up in increased tax on corporations and high earners, whereas he believes public workers' pensions should be ransacked. | |
| 03-07-2011, 06:08 PM | #9 |
| 03-08-2011, 10:55 AM | #10 |
| Originally posted by shooz His PR guys say Mel and him are philatilists or something like that. Philanderers.....er........potentates.........some $25 word for I gave at the office. | |
| 03-08-2011, 02:31 PM | #11 |
| Originally posted by cardinal43 Try "philanthropist". Means they give away a lot of $$$$$$$. | |
| 03-08-2011, 04:03 PM | #12 |
| 03-08-2011, 05:44 PM | #13 |
| 03-08-2011, 06:27 PM | #14 |
| 03-08-2011, 06:48 PM | #15 |
| Originally posted by Chwisch87 hmm? So he gives 10's of billions of dollars away and you have an issue with this? Charity wise..So he had a PR problem and possibly an epiphany...and possibly pushed by his spouse. I know it's hard to knock his current philanthropy, but I manage to find a way..... I am happy for the charities and causes he supports..... Quote: Gates began to realize the expectations others had of him when public opinion mounted that he could give more of his wealth to charity. Gates studied the work of Andrew Carnegie and John D. Rockefeller and in 1994 sold some of his Microsoft stock to create the William H. Gates Foundation. In 2000, Gates and his wife combined three family foundations into one to create the charitable Bill & Melinda Gates Foundation, which is the largest transparently operated charitable foundation in the world.[62] The foundation is set up to allow benefactors access to how its money is being spent, unlike other major charitable organizations such as the Wellcome Trust.[63][64] The generosity and extensive philanthropy of David Rockefeller has been credited as a major influence. Gates and his father have met with Rockefeller several times and have modeled their giving in part on the Rockefeller family's philanthropic focus, namely those global problems that are ignored by governments and other organizations.[65] As of 2007, Bill and Melinda Gates were the second most generous philanthropists in America, having given over $28 billion to charity.[66] The foundation has also received criticism because it invests the assets that it has not yet distributed with the exclusive goal of maximizing the return on investment. As a result, its investments include companies that have been criticized for worsening poverty in the same developing countries where the Foundation is attempting to relieve poverty. These include companies that pollute heavily and pharmaceutical companies that do not sell into the developing world.[67] In response to press criticism, the foundation announced in 2007 a review of its investments to assess social responsibility.[68] It subsequently cancelled the review and stood by its policy of investing for maximum return, while using voting rights to influence company practices.[69] Gates has made The Giving Pledge to donate over half of his wealth to charity.[70] http://forums.dealmac.com/read.php?1,109729,109823 Bill Gate is a 2 edged sword......... I prefer the other "brother"........... aka "the accidental billionaire" Paul Allen - Wikipedia, the free encyclopedia Has about 14 year charitable head start on ole Billy.... also known as a pretty poor stock picker................... Underdogs.. like Pentax Whole thing always leads to "does the end justify the means" philosophical discussion.. Does Bill Gates represent both the best and worst side of American capitalism??? Could things have been even better or worse without someone like Bill Gates??? I'll leave that to history....... CHARITY, a slippery slope...... Quote: Media companies love to tout their contributions to culture and philanthropy -- the public service announcements, the matching donations to tsunami relief and the fact that employees are often quite generous with their time and money. After decades of consolidation, big media has evolved into an ever-smaller circle of diversified, publicly traded entities with bottom lines to watch and stock prices to support. In many cases the real money is consolidated in the tightly clenched hands of the owner-operators, who show a unique disinterest in society at large. It's as if they're playing a high-stakes game of "die rich." "These guys have wealthy companies to hide behind," one fund-raising exec complains. The irony is that the professional managers of some of the congloms are quite generous -- especially considering their relatively modest salaries compared with the owners. sorry to digress, this is all fascinating, sicking and heartwarming all at the same time........ as we volley over measly thousands...... Quote: The Ultra-Rich Give Differently From You and Me By DAVID CAY JOHNSTON Philanthropy, like foie gras, is an acquired taste. And Warren Buffett embraced charity with extraordinary gusto last week, announcing that he would give away 85 percent of his $44 billion fortune. His megagifts, like many of his investments, buck the popular trend. Giving by the richest Americans has fallen in recent years, with the biggest declines at the very top, based on deductions Americans take on their tax returns. Among Americans who at death left a taxable fortune of $20 million or more, the average charitable bequest fell by $2 million, or 9 percent, from 1995 to 2004. Almost alone among rich Americans, Mr. Buffett has argued that estate taxes should be increased, not eliminated. Mr. Buffett says the estate tax helps build a vibrant economy of innovators and strivers — a true meritocracy — and that repealing it would risk a stunted economy controlled by aristocratic inheritors. Repealing the estate tax, he has said, would be the economic equivalent of "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics." Bill Gates, a founder of Microsoft and close friend of Mr. Buffett, has not taken a public position on the estate tax, but his father leads the movement to keep it. Few ultrarich families agree, and 18 have spent $500 million since 1994 lobbying for estate tax repeal, according to disclosure records examined by Public Citizen and United for a Fair Economy, which want to keep the tax. How do they give compared with the Gates and Buffett families? In some prominent cases, not nearly as generously. The Walton family owns Wal-Mart stock worth more than $90 billion, more than twice the value of the Gates family's Microsoft stock. But the Bill and Melinda Gates Foundation is 35 times larger than the Walton Family Foundation, tax records show. The Mars family, known for its candy company, has an estimated net worth of $12 billion. The Mars Foundation gave away $795,000 in 2004 — 97 grants averaging $8,200 each. The Walton Foundation gave away 127 times as much, the Gates Foundation more than 1,900 times. "The Waltons have said they will increase their charitable giving in the future," said Jay Allen, a family spokesman. The Mars Foundation said the family did not comment on such matters. Of course, until last week, Mr. Buffett was not known for his giving, either. Last edited by jeffkrol; 03-08-2011 at 07:25 PM. | |
|
| Bookmarks |
| Tags - Make this thread easier to find by adding keywords to it! |
| bill, care, gates, guys, health, practices, snip |
Similar Threads | ||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Streets Real Bill | Kammerer | Post Your Photos! | 2 | 12-31-2010 05:39 AM |
| Bravo Sigma! | Egg Salad | Pentax SLR Lens Discussion | 30 | 10-22-2010 01:34 PM |
| It's what happens when you don't read the bill... | GingeM | General Talk | 19 | 05-22-2010 06:27 AM |
| Cemetery Gates | Edward B. | Post Your Photos! | 6 | 03-05-2009 04:07 PM |
| The gates of Mordor | LED | Post Your Photos! | 20 | 01-03-2008 06:56 AM |
