Golden parachute time?
Yvon Chouinard Gives Away His Company, Patagonia.
- Thread starter Ceviche
- Start date
Golden parachute time?
Dustin Chromers
Legend
I figured it out. It's Nick Clayton. CEO of South Sound Skiffs. Confident and competent. Total package really.
I hope you don't think I'm a hater. I think he is amazing, he has a great marketing approach...some of you sound like you'd kill for him!
I only posted that he has made billions and now has secured billions for his family...tax free.
I try to copy these people...it's amazing how they make money and avoid taxes. Not one ounce of hate only admiration.
I only posted that he has made billions and now has secured billions for his family...tax free.
I try to copy these people...it's amazing how they make money and avoid taxes. Not one ounce of hate only admiration.
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A
Anonymous member 148
Guest
It is the general bullshiting forum. When you can't fish, bullshit about climate change. The more posts and activity the site gets must be pushing it to the front page of Google by now.
I don't get how giving 100% of the profits to environmental causes and giving 100% of the stock to two foundations secured "billions for his family." But I'm not a finance guy. Enlighten me?
swimmy
An honest tune with a lingering lead
Dogsnfish
Steelhead
Agreed, what is really ironic is that Chouinard is heavy into fly fishing himself, and has put his money where his passions lie to help try and save waters and steelhead / salmon. Hey people, he is one of us and is trying to do things that benefit our sport.
Flymph
Life of the Party
Did someone mention Stihl - -
lp.stihldealer.net
STIHL Battery-Powered Blowers | Local Authorized STIHL Dealer
STIHL Battery-Powered Blowers | Local Authorized STIHL Dealer
The folks who wrote that NYT article are either ignorant of tax law, or are being deliberately misleading. They repeatedly claim the wealthy "avoid paying inheritance/gift taxes" by transferring their wealth to a nonprofit rather than to their heirs.
To be crystal clear - no one pays taxes to give money away. Inheritance and gift taxes are paid by the recipient.
That's why inheritance taxes are ruinous for small businesses and farms. If your mom gifts you the marginally profitable family farm on a plot of land now worth $10M, you will probably have to sell a big chunk of it in order to come up with the millions in cash to pay the tax on that gift.
Same applies here. If the company is worth billions, the heirs would likely have to break it up or sell it to pay the billion in taxes - in either case Patagonia would likely no longer be controlled by a family committed to making sure the profits go towards environmental issues, and it would end up being just another for-profit polluter with no redeeming features.
Because a nonprofit does not have to pay those taxes, it can keep the company intact and direct the revenues to the 501(c)'s causes.
The only loser is the government. The authors' final whine that they dodge a tax "the rest of us" have to pay is also disingenuous, since you have to be inheriting >$6Mish to be subject to the tax at all.
The wealthy have a lot of ways to dodge taxes, but this isn't really one of them.
Forgive my femsplaining if you already understand inheritance tax
To be crystal clear - no one pays taxes to give money away. Inheritance and gift taxes are paid by the recipient.
That's why inheritance taxes are ruinous for small businesses and farms. If your mom gifts you the marginally profitable family farm on a plot of land now worth $10M, you will probably have to sell a big chunk of it in order to come up with the millions in cash to pay the tax on that gift.
Same applies here. If the company is worth billions, the heirs would likely have to break it up or sell it to pay the billion in taxes - in either case Patagonia would likely no longer be controlled by a family committed to making sure the profits go towards environmental issues, and it would end up being just another for-profit polluter with no redeeming features.
Because a nonprofit does not have to pay those taxes, it can keep the company intact and direct the revenues to the 501(c)'s causes.
The only loser is the government. The authors' final whine that they dodge a tax "the rest of us" have to pay is also disingenuous, since you have to be inheriting >$6Mish to be subject to the tax at all.
The wealthy have a lot of ways to dodge taxes, but this isn't really one of them.
Forgive my femsplaining if you already understand inheritance tax
The secured billions for his family tax free part is bs, as has been pointed out a few times.
But you keep flogging that mule, there are folks dumb enough to believe you, just keep flogging.
Jeanne Piro, in between swigs of drugstore gin, just reported that Yves has secretly funneled 1B to HIllary so she can run in the next POTUS election, and another 1B to smuggle in Guatemalan gang members to the Red States where they will sign up for the next POTUS election with false ID's. More to come on this breaking story.The secured billions for his family tax free part is bs, as has been pointed out a few times.
But you keep flogging that mule, there are folks dumb enough to believe you, just keep flogging.
Divad
Whitefish
All I’ve learned from this thread is Yvonne gave a bunch of money away to a buzzing topic. All respect to him really, that’s an incredible act.
But cmon, would we even be talking about this as such if it was given to a different charity or if he didn’t target the wording climate change?
But cmon, would we even be talking about this as such if it was given to a different charity or if he didn’t target the wording climate change?
Dustin Chromers
Legend
All I’ve learned from this thread is Yvonne gave a bunch of money away to a buzzing topic. All respect to him really, that’s an incredible act.
But cmon, would we even be talking about this as such if it was given to a different charity or if he didn’t target the wording climate change?
I agree but this guy has been consistent. He didn't just go here for the trendy nature. He has been onboard for a duration of time.
Dustin Chromers
Legend
The folks who wrote that NYT article are either ignorant of tax law, or are being deliberately misleading. They repeatedly claim the wealthy "avoid paying inheritance/gift taxes" by transferring their wealth to a nonprofit rather than to their heirs.
To be crystal clear - no one pays taxes to give money away. Inheritance and gift taxes are paid by the recipient.
That's why inheritance taxes are ruinous for small businesses and farms. If your mom gifts you the marginally profitable family farm on a plot of land now worth $10M, you will probably have to sell a big chunk of it in order to come up with the millions in cash to pay the tax on that gift.
Same applies here. If the company is worth billions, the heirs would likely have to break it up or sell it to pay the billion in taxes - in either case Patagonia would likely no longer be controlled by a family committed to making sure the profits go towards environmental issues, and it would end up being just another for-profit polluter with no redeeming features.
Because a nonprofit does not have to pay those taxes, it can keep the company intact and direct the revenues to the 501(c)'s causes.
The only loser is the government. The authors' final whine that they dodge a tax "the rest of us" have to pay is also disingenuous, since you have to be inheriting >$6Mish to be subject to the tax at all.
The wealthy have a lot of ways to dodge taxes, but this isn't really one of them.
Forgive my femsplaining if you already understand inheritance tax
Sounds like a feudal system. Build a company. Try to hand it down. Taxes are such you have to break it up to pay fealty to the government lords. Company is no longer or shadow of former self.
Divad
Whitefish
That makes me happy to hear
jaredoconnor
Peabrain Chub
I bought a $200 Patagonia vest, because I had to give my cheap Redington one to my dad and they don't make them anymore.
It is total garbage and I'm frustrated. It's like no one actually used it, before they hit the market. The net attachment point basically doesn't work. The whole vest is useless. As if that wasn't bad enough...
I needed to vent. This seemed like a good place. It is by far the dumbest fly fishing product I can remember owning, particularly given the price.
It is total garbage and I'm frustrated. It's like no one actually used it, before they hit the market. The net attachment point basically doesn't work. The whole vest is useless. As if that wasn't bad enough...
- You have to dislocate your shoulder, if you actually want to use the reach through pockets.
- The floatant pocket is too loose to actually hold a floatant bottle.
- The largest size is too small, for a 5'9" man.
I needed to vent. This seemed like a good place. It is by far the dumbest fly fishing product I can remember owning, particularly given the price.
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I don't wear any Patagonia clothing either - it's made for skinny chicks.
I do like my Foot Tractors, though!
