Top Buffet Aid, Ted Weschler Donates $10 Million To His High School Alma Mater A Private Catholic Male Only Prep School In Erie, PA

Ted Weschler, Erie Native - Top Officer At Bershire Hathaway

IT MUST BE NICE TO HAVE SO MUCH MONEY THAT YOU HAVE TO GET RID OF IT SO YOU CAN GET A NICE DEDUCTION TO LOWER YOUR TAX LIABILITY. THIS MUST HAVE BEEN THE CASE WHEN TED WESCHLER DECIDED TO GIFT HIS HIGH SCHOOL ALMA MATER WITH A ONE TIME $10 MILLION DOLLAR GIFT. IT WAS PROBABLY GIVE THE MONEY AWAY TO THE DESERVING OR PAY UNCLE SAM. SO WESCHLER DECIDED TO GIFT HIS FORMER HIGH SCHOOL.

NOW WHAT DID CATHEDRAL PREPARATORY SCHOOL IN ERIE, PA DO WITH SUCH A LARGE GIFT? DID THEY PUT THE MONEY INTO A TRUST TO EARN YEARLY DIVIDENDS INTO PERPETUITY OR FUND SCHOLARSHIPS TO THEIR SCHOOL TO UNDERWRITE THE $8,000 A YEAR TUITION? NOPE, THEY IMMEDIATELY "INVESTED" THE MONEY INTO THEIR SPORTS COMPLEX..., ALL $10 MILLION DOLLARS OF THE GIFT. NOW, THE REASONING I'M TOLD IS, "IF WE HAVE THE PROPER FACILITIES, WE WILL BE ABLE TO ATTRACT THE WEALTHY FOREIGN STUDENTS WHOSE FAMILIES WISH TO SEND THEIR YOUNG MEN TO AMERICA IN ORDER TO RECEIVE A QUALITY EDUCATION AT A PRIVATE PREP SCHOOL.".

HMMMMM....., $8,000 A YEAR TUITION? THIS PROBABLY OUTSTRIPS THE TUITION COSTS FOR THE STATE COLLEGES AND UNIVERSITIES IN PENNSYLVANIA AND IS BEYOND THE MEANS OF MOST PEOPLE UNLESS YOU MAKE $40 AN HOUR OR MORE. AN ELITIST SCHOOL FOR THE WEALTHY? YES, PROBABLY. BUT BY SENDING YOUR SON TO SUCH AN EXCLUSIVE SCHOOL, YOU GUARANTEE HIM ENTRANCE INTO THE WORLD OF PRIVILEGE AND EXCLUSIVITY BY RUBBING SHOULDERS WITH OTHER SONS OF THE WEALTHY.

IN 2012, WESCHLER MADE $27 MILLION IN BONUSES. THIS IS NOTHING COMPARED TO HIS BOSS WARREN BUFFET'S 21% STAKE OF BERSHIRE HATHAWAY WORTH $50 BILLION IN 2012. 

IT IS INTERESTING TO NOTE A COUPLE OF STATISTICS HERE;

1. 53% OF AMERICANS MAKE LESS THAN $30,000 A YEAR.
2. WHEN THE GOVERNMENT SPENDS $20 BILLION DOLLARS, IT TAKES 20,000 TAXPAYERS MAKING $30,000 A YEAR A LIFETIME OF PAYING TAXES TO COLLECTIVELY CONTRIBUTE $20 BILLION DOLLARS.
3. THE WEALTHY ARE AFFORDED TAX BREAKS, LOOPHOLES AND DEDUCTIONS THAT EFFECTIVELY MINIMIZE OR ELIMINATE THEIR FEDERAL TAXES. ARMED WITH HIGH PRICED ACCOUNTANTS AND TAX ATTORNEYS, THE WEALTHY CAN TWIST AND BEND THE TAX LAWS IN THEIR FAVOR THAT CAN ONLY BE CHALLENGE IN COURT THROUGH LENGTHY, TORTUROUS LITIGATION THAT WILL BE CHALLENGED AT EVERY TURN BY THE TAX EVADER AND HIS ARMY OF HIGH POWERED LITIGANTS.