Billionaires evading taxes by donating to charties?

[Vaishal Patel]

So in 2012 many billionaires donated huge amounts to charities.The funny thing is most of this money was donated to the charities ran by their children or relatives..Warren buffet donated 3 billion to 3 charities ran by his children.Is this how they avoid paying estate taxes and claim huge deductions?just curious.!!!

[Joel Owens]

There are limits to what you can donate each year.

The Government has shown it cannot balance even 10 cents. So why would I want to give them a blank check to incompetent individuals??

If you listen to some of the really rich (Paul Mitchell, Richard Branson, etc.) there believe is they want to control what they give.

So if you have 1 million in tax liability would you want to give the money to a Government with out of control spending or give it to charities where you know every cent is going plus it gives you great publicity for your company??

To me it makes sense. I don't want to give the Government a bunch of money for taxes to do things with it I may or may not believe in or want to make a difference in.