Of course that is what the wealthy do. They use the complexity of the tax code to avoid paying taxes. Why do you think Gates and Buffett put their money in trusts and foundations?!?!? To avoid having the tax man take them when they croak. As Warren so elegantly put it, I decided to put the money in the Gates Foundation because the transaction costs are lower than if I paid the estate tax. Well said, Warren. The government will piss away a large amount of your wealth with wasteful spending.....another duh!!!
Another note, of course this article which focuses almost exclusively on a Republican barely mentions in passing Democrat hypocrites like Buffett, Gates and almost every libtard actor in Hollywood. Yet another example of the leftward bias of the government media, including the NYT (which explains the periodic layoffs). You see, what they fail to understand or are afraid to mention is that at least Lauder is not a hypocrite like Buffett, Gates and these other left wing billionaires that lament how little they pay in taxes and yet spend millions each year on tax attorneys and accountants to help them avoid paying taxes. At least Lauder has the intellectual honesty to say the truth and walk the talk. I am for all of them doing whatever is legal to avoid paying taxes but I am repulsed by jokers like Buffett and his dishonesty.
And finally, I would be remiss if I didn't also point out that I have taken what the NYT has written with a huge grain of salt. They do have a long and sordid history for inaccuracy you know.......