Manoj Bhargava, richest Indian in US commits 90% earnings to charity

[Developereo]

FAIL!

1. What his company brings in, is what his company deposits into 'its' (not 'his') commercial a/c.

From there, the company pays him his salary.

2. a+b = c does not necessarily mean b = 0 and a=c. FAIL AGAIN!




Neither can you prove it, nor can you disprove it. The article doesn't mention it.

It remains your conjecture since you started your slander campaign against the man on this thread.



I have ,fortunately, met better and saner Americans than the waylayers in NYC.

That is your assumption. FAIL AGAIN!

@ Developreo, One simple question for you, my friend.

Does a private company's salary mean its owner's salary? All of it, all of the time?

Think before you answer.

Just putting things in bold and red doesn't improve your arguments.

1- I am going by what's explicitly stated in the OP. You are imagining all sorts of additional factors without any justification. If I did that, you guys would be all over me.

2- The issue of salary v/s corporate earnings was already explained by me in the earlier post. I suggest you re-read it. It's really basic business 101. You can even pick up a Nolo book to refresh your memory, just in case.

Here, I will quote it again:

Here's how a typical private company setup works in America (and most other places).

Company A makes a profit of 1 million dollars.
The owner gives himself a salary of 100,000 dollars. They try to make this amount as small as possible because individual earnings are usually taxes at a much higher rate than corporate profits. However, you can't make it too small or the tax man will pay you a visit.

The remaining 900,000 now belongs to the company and people find creative ways of deriving benefit from it (consult tax accountant for many, many, creative ways.) This is also where non-profit, charitable organizations come into play because everything they spend will reduce the corporation's tax burden. And this is where Mr. B's "Hans Foundation" fits in.

One must ask Pakistanis living in Australia or elsewhere if they are sending money back to Pakistan or not ? By the same logic money earned from Australian source should be spent in Australia ?

I am earning money and at times sending back to my parents and at time doing charity for Indian organization or Royal Flying Doctor Service i.e. to place where I live. A good share of Pakistani economy constitutes money sent by overseas Pakistanis back home. Some Pakistani may be sending money for charity as well; earned from foreign sources ?

Again, no one disputes charity work. The issue is to send 90% of it to India and then claim some sort of moral righteousness about helping America.

When we expats send money back, we also spend the overwhelming chunk of our money locally.

 

[The HBS Guy]

Just putting things in bold and red doesn't improve your arguments.

1- I am going by what's explicitly stated in the OP. You are imagining all sorts of additional factors without any justification. If I did that, you guys would be all over me.

2- The issue of salary v/s corporate earnings was already explained by me in the earlier post. I suggest you re-read it. It's really basic business 101. You can even pick up a Nolo book to refresh your memory, just in case.

Oh God!
It's quite obvious you do not understand what you are saying.

I have wasted enough time on you and your bhasad ( I won't even call it an argument for, an argument comprises of logic, yours is devoid of even an iota of it).

The very fact that you choose to generalize the man and his company and in fact, all companies in America, as 'typical', is a strong enough pointer towards your logical abilities.

Thank you.

 

[chitti]

It is stated in plain English; I suggest you read it.

If you don't understand how earnings, charity and taxes work, I suggest you ask an accountant or a friend.

Bottom line: he is making money off American consumers and siphoning 90% of the taxes/profits to India instead of America.

P.S. Net earnings = Gross earnings - expenses = Profits + taxes

if you have sent even $ from Au to Pak you suffer for the same immorality

 

[Awesome]

Does 5 hour energy work? I have been always tempted to try it out. A boost after the day's work will be much appreciated. After 10-12 hours on the job, everyday is a mental battle to go outside.

He is not paying 90% of 1 Billion dollars he has earned off his company right? What is the net sum amount he is giving in charity and how much has he earned?

90% of earnings sounds dubious.

 

[The HBS Guy]

Does 5 hour energy work? I have been always tempted to try it out. A boost after the day's work will be much appreciated. After 10-12 hours on the job, everyday is a mental battle to go outside.

He is not paying 90% of 1 Billion dollars he has earned off his company right? What is the net sum amount he is giving in charity and how much has he earned?

90% of earnings sounds dubious.

Et Tu Brute?

 

[ADAMANSKA]

When we expats send money back, we also spend the overwhelming chunk of our money locally.

Well at least he is not trying to blow up Americans in the name of Jihad (like some responsible expats from other countries do).

 

[Musalman]

He has lived in the US since 1967, made his fortune in America and will give 90% of his money to India.

That will make him even greater ;-) Good man

 

[Developereo]

Does 5 hour energy work?

That's a whole big can of worms by itself.

Personally, I don't believe in any of these 5-hour, red bull, gatorade, guarana, etc, for ordinary tiredness (i.e. not just finished a marathon). Even for exercise, I remember there was a study which found that chocolate milk outperformed all these designer drinks for post-exercise recovery.

The example I always give people is if you are feeling tired and a hot girl gives you a booty call, you will find all the energy you need. It's all psychological. (Again, this is for ordinary tiredness; not if you just finished a marathon.)

 

[Yeti]

He has lived in the US since 1967, made his fortune in America and will give 90% of his money to India.

Are you sure you want this "image" of Indians to be publicized?

His money he can do what he likes with it.

 

[rockstarIN]

Either you didn't read my example property or didn't understand it. Read it again. Whether you take out money as salary or dividend, you have to pay taxes on it as an individual. That is the 100,000 in the example; that is out of the picture. It is the remaining 900,000 left in the company that we are talking about here.



I don't know how things work in India -- I suspect not too differently from the US or Australia. What I have stated is the predominant setup for private companies, including the tax deductions.

.

Accounting principles are world wide, not how it is work in India, Pakistan USA etc etc.. There is different tax setup but the base is same.

Anyway, I'm off from this thread. Taxation is not as simple as A-b=Profit+Taxes. It is really complicated and there are enough laws, rules and regulations to catch/control cheating even in the name of charity.

Also do understand charity=non tax. Its up to the govt provisions and their discretion.

 

[Developereo]

His money he can do what he likes with it.

Absolutely. He can make paper aeroplanes with $100 notes and throw them from his balcony.

As it is, he is a charitable man who is doing good for India, and that is commendable.

The only point I am disputing is that giving 90% of his charity elsewhere after living 50 odd years in a country and making his fortune there "projects the good image of us Indians" in America.

Taxation is not as simple as A-b=Profit+Taxes. It is really complicated and there are enough laws, rules and regulations to catch/control cheating even in the name of charity.

I never claimed that he is cheating in a legal sense; only that I find it immoral. That's a personal view.

 

[Yeti]

Absolutely. He can make paper aeroplanes with $100 notes and throw them from his balcony.

As it is, he is a charitable man who is doing good for India, and that is commendable.

The only point I am disputing is that giving 90% of his charity elsewhere after living 50 odd years in a country and making his fortune there "projects the good image of us Indians" in America.

Well there is more poverty in countries like India and Africa would you not agree? America is still a rich nation by all accounts compared to India so if he feels his money could be better used to lift more people out of poverty that is fair game.

BTW Bill Gates also has a big AID program in India and countries in Africa thats because the numbers of poor far exceed those in the Western world.

On another note I have read about Rich Americans leaving millions of $$ to their cats and dogs after they die so at least in this case the chap is putting his money to good use.

 

[Developereo]

Well there is more poverty in countries like India and Africa would you not agree? America is still a rich nation by all accounts compared to India so if he feels his money could be better used to lift more people out of poverty that is fair game.

BTW Bill Gates also has a big AID program in India and countries in Africa thats because the numbers of poor far exceed those in the Western world.

Sure. It's my personal view that if you live in a country for so long and it gave you the opportunities to make money, you should pay back to the local community commensurately.

On another note I have read about Rich Americans leaving millions of $$ to their cats and dogs after they die so at least in this case the chap is putting his money to good use.

Let's not compare him to imbeciles. No one is denying that he is doing good for charity.

 

[jbond197]

That's a whole big can of worms by itself.

Personally, I don't believe in any of these 5-hour, red bull, gatorade, guarana, etc, for ordinary tiredness (i.e. not just finished a marathon). Even for exercise, I remember there was a study which found that chocolate milk outperformed all these designer drinks for post-exercise recovery.

The example I always give people is if you are feeling tired and a hot girl gives you a booty call, you will find all the energy you need. It's all psychological. (Again, this is for ordinary tiredness; not if you just finished a marathon.)

Mate, whether you like it or not 5 hour energy etc sells like hot cake.. I think people opting for it are intelligent enough to pick and chose what is good for them..

But I can clearly see your intent here, in your desire to run Manoj bhargava down you are trying to run his product down too..

I have a feeling , all this must be really very frustrating for you..

For me, Manoj Bhargava is good soul.. In this world, where people are trying to snatch food from other people's mouth, he is trying to give back and help the poorest of poor in the society..

 

[Developereo]

Mate, whether you like it or not 5 hour energy etc sells like hot cake.. I think people opting for it are intelligent enough to pick and chose what is good for them..

But I can clearly see your intent here, in your desire to run Manoj bhargava down you are trying to run his product down too..

I have a feeling , all this must be really very frustrating for you..

For me, Manoj Bhargava is good soul.. In this world, where people are trying to snatch food from other people's mouth, he is trying to give back and help the poorest of poor in the society..

Park your paranoia. I stated that I believe all these designer drinks are bogus -- nothing specific to this product.

See my signature, which I have had before this thread ever got started.