Taxes will take 40% of it, then they will get $60K.
Obviously it's a good amount, but it's certainly not life changing.
So I want to know why they are making sure a big deal out of giving these people $60K? Cause they might be able to buy a few nice things, but they are still going to be working their minimum wage jobs.
You'd think someone with $300 million could pony up more then a lously $100K.
Sad.
Sad that you dont think they are generous for doing it at all. And to someone who has close to nothing, 60K is life changing. It is a new car, rent or mortgage for a year, and more. You must waste money like crazy to not know how to make something out of 60K. I'd be extatic with a gift of 5k or 10K let alone 60K. Yeah they might still have to work the rest of their lives, but they would be a LOT better off.
share[deleted]
Why would they be taxed? It's not income to them.
The donor pays the gift tax rate on gifts above the annual exclusion (currently $12,000). At the current gift tax rate (45%), the millionaires are actually paying $139,600 to give $100,000 to the poor people. The poor people get the full $100,000.
My my. Aren't we a bit disgruntled, sad, lonely, butter, psychotic. You don't have the right to tell people how much money they have to give to help the poor bastards who messed up their own lives. Besides, like you said no matter how much money is given most of it will go to pay taxes. I say don't give any money at all. That way everyone wins! Sounds easy..right? That's because it is.
shareHAHAH! What a bunch of nonsense this thread turned into.
I think it's pretty much a fact that it doesn't really matter how hard you worked in your life, it's all about what family you were born into.
Some moron with $300 million is donating $100K (Pocker changed to him) to get some fame? I have NO RESPECT for such a worthless piece of rich trash.
[deleted]
i tell you, I am pretty stable, meaning i have a job in this sh**ty economy,
but even 1,000 dollars would help.
For me I have a lot of bills plus 5 student loans.
so saying that 100,000 dollars is not life changing is pretty insulting.
meeoww!
How is that insulting?
It's not a life changing amount of money.
You are still going to have to get up and go to work. Yeah, you might be able to buy some nice things, but it's not life changing AT ALL.
can you give me 50,000 i know it's not much for you, BUT I SURE CAN USE IT!!!!!!!!!!!!!!!!!!! it will be life changing for me...
i love me
I live in Michigan where the economy has pretty much collapsed and the auto industry is going away.
With 60k, I can pay my bills and go back to school to get trained in a job that is in demand. So how about it? I mean if it isn't that much, just hand it over.
i'll take anything... even $20 bucks and go see a movie!
(•_•)
can't outrun your own shadow
the math of it all does baffle me.
i don't think that we have a right to tell these millionaires to donate more money. I have a hunch that they probably do donate a certain amount of their salary to causes because it's tax-deductible anyway. I think this is the first time these people are just giving to random strangers off the street which you have to admit a very very small amount of people do.
What i don't get, and i'm trying not to be judgemental, is if these people are so touched and really want to make a difference, couldn't they go back and throw another $100,000 or so?
The Indian guy's donation of $35,000 to be split a million ways among all those people isn't gonna do too much. I think he said that if you gave them too much money, they might fall off the wagon, though.
www.examiner.com/x-3877-DC-Film-Industry-Examiner
Scott-101 wrote:
> i don't think that we have a right to tell these millionaires to donate
> more money.
Sure we do. I don't know of a single millionaire who didn't make 100% of his money from exploiting people in some way or another.
> the math of it all does baffle me.
It's very simple:
If someone is worth 300 million dollars and gives away $100,000, it is relatively the same as if someone making 30,000/year gives $10. In other words: peanuts.
(x = 30,000 * 100,000 / 300,000,000)
10 bucks. That's the equivalent of their donation.
And of course, the 'millionaire' is going to declare his donation and get a nice tax credit from it which he can apply against his massive profits.
No wonder the economy is in a dump.
[deleted]
[deleted]
Oh please, the only reason they are on there is for the publicity. Don't have have any clue how "reality tv" works now? I guess not.
sharei just think that any amount given that allows someone to catch up or help them reach a small goal would be well appreciated.
to be honest if i didnt have back loans and i was given like 10k i would start a business, make it an investment an opportunity.
meeoww!
mdecoy-1
I think it's pretty much a fact that it doesn't really matter how hard you worked in your life, it's all about what family you were born into.
-----------------------------------------------------------------------------
That is pretty much your opinion, not a fact. It's up to the individual. Were Bill Gates, Warren Buffet, etc born billionaires? Heck any IT gurus like Dell, Google, Oracle, etc are all self made millionaires.
I grew up in a middle class family yet one brother made $5K last year and would be homeless if my parents didn't constantly bail out their 43 year old child. My parents best friends have a son in the same situation, they own 3 houses and he can't hold a job either and lives at home. Both were given golden opportunities (free college education) to do something with their lives.
As far as the show is concerned, I met one of the people, Gurbash and his brother on a cruise. Back then he was "only" worth $13M (or $20M?) but you never would have known it. We sat at the same dinner table. He as well grew up in a middle class family and skipped out on college to start a business, sold it, became a multimillionaire, then started a 2nd company and made even more money.
[deleted]
I get excited about 6$ so yeah....60K is a lot. For instance, the woman feeding the people said it took 200$ a week to feed that many people. 60K pays for about 6 years worth of groceries.
share[deleted]
Multi-millionaires have suave accountants who know tax laws in and out. They probably are able to write this off as a donation to charity, thus possibly allowing the individual receiving the funds to also be tax exempt (depends on the state and circumstances). But yes, $100k is really nothing these days. For instance, last night the rich guy was impressed with the handicap kid in the wheelchair, and the kid wanted to start a business. In addition to money, why not help the kid launch his business? After all, this guy has been running his own business ventures for over 25 years. Not all of us are born into wealth.
shareEvery rich person is not born into wealth. A british guy on this show was the son of a bus driver and he started out out as a labourer himself. I think some people here are jealous of the ones who are brave enough to take risks and make something of themselves. And if 100k is nothing then why doesn't the OP donate that much to somebody? Who here has ever gotten a birthday present that huge? No one here would turn that money down so your all hypocrites.
share[deleted]
This is the first I've heard about this show. If the donor actually gets into the lives of those less fortunate to understand how they can pull ahead $100k could make all the difference in the world. All I have to say is that I love the premise. I haven't seen the show but this sounds amazing! Instead of looking at the situation from the outside - putting them inside their lives really gives a great opportunity to problem solve and move families ahead. This sounds like it is not just beneficial to the recipient but also the donor to help instead of frivously go about live living for themselves.
share