--- In FairfieldLife@yahoogroups.com, Rick Archer <[EMAIL PROTECTED]> wrote: > on 8/26/05 10:39 AM, TurquoiseB at [EMAIL PROTECTED] wrote: > > > --- In FairfieldLife@yahoogroups.com, "jim_flanegin" <[EMAIL PROTECTED]> > > wrote: > >> --- In FairfieldLife@yahoogroups.com, Peter <[EMAIL PROTECTED]> > >> wrote: > >>> I bet in his quiet moments Tony looks in the mirror, > >>> sees himself with his crown and robe and says,"What > >>> the f**k!" > >> > >> Agreed, he probably doubles over with laughter at times at the > >> relative absurdity of it all, though he does seem to be enjoying > >> his current ride in the amusement park! > > > > I think it's good every so often to remember who > > *paid* for his E-ticket ride. Where do you think > > the money came from for his robes and crown, much > > less his weight in gold? From all the TBs who > > donated to projects along the way that they'd > > convinced themselves were really going to happen. > > I think Warren Berman donated most of the money for the weight in gold. I > wonder if Tony got to keep the gold or graciously handed it over to MMY.
And it brings up alot of legal issues as well. I don't know what the laws are in Holland where I presume the "gift" of the gold was made but I assume that, like in the U.S., there ARE laws that govern both gifting and donations. Assuming da King is about 150 lbs. that's 2,400 ounces of gold (16 times 150). At, say, $350 an ounce (I am too lazy to look up both the date of the gift and the price per ounce of gold on that date), that means the fair-market-price of the gift was $840,000. If the $840,000 was given directly by the donor Mr. Berman -- and assuming Mr. Berman is a U.S. citizen at the time residing in the U.S. -- to Tony Nader then it cannot under U.S. law be a tax- deductible donation to a registered charity but a "gift" which is subject to a gift tax of anywhere from 37% to 50-55% (which Mr. Berman must pay) over $11,000 in a given year. If the $840,000 was given as a legitimate donation to a registered charity, and the charity, in turn, then "gave" that $840,000 to Tony Nader then: 1) I would assume a registered charity in Holland would be governed by rules which require strict spending of money for purposes directly related to the "raison-d'etre" of that charity and gifts to individuals would almost most certainly NOT fall under that category...and it would then jeopardize the charity nature and tax- deductible status of the organisation. 2) If Tony Nader then turned around and "donated" back to the TMO the $840,000, then that creates problems tax-wise for him (from a U.S. perspective...and I assume that even if he is a tax-payer in another country that that other country has similar and almost certainly stricter laws) because an individual is restricted as to how much, as a percentage of total income (or is it adjusted gross income?) that an individual can "donate" and get a tax deduction in any given year. I would be VERY curious to know what sort of shenanigans went on with the "weight in gold" episode 'cause I would have to be VERY convinced that everything was done on the up and up! ------------------------ Yahoo! Groups Sponsor --------------------~--> Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
