It’s still giving money away though? Why would you want there to be taxes on charity?
Comment on Linus Torvalds and Bill Gates Meet for the First Time Ever
Valmond@lemmy.world 1 month agoMaking money/influence. It’s such a scam his “Bill and Melinda Charity” (no taxes on charities).
victorz@lemmy.world 1 month ago
fushuan@lemmy.blahaj.zone 1 month ago
It’s more nuanced though. Here’s how rich people use charities to gain wealth:
Rich person has tons of money that would be taxed if bill Y passes. Rich person creates a charity and donated 20% of what they would had to pay to the IRS to the charity, with that money the charity uses half for good causes and half is given to X lobby company, which then lobbies politicians to avoid passing that bill.
In the end, the rich person saved 80% of what they would had to pay.
Yeah, 10% went to good causes but imagine what the society could afford if 100% went through instead of 0.
This is a very rough outline of how they do it, but the summary is that they use charities to donate to lobbies while skipping taxes on the donation itself.
binomialchicken@lemmy.blahaj.zone 1 month ago
Yeah, 10% went to good causes but imagine what the society could afford if 100% went through instead of 0.
It’s the US, so more weapons I presume.
fushuan@lemmy.blahaj.zone 1 month ago
That’s the sentiment that allows these rich fucks to avoid paying taxes without big backlash. First focus on collecting, then on spending…
Allero@lemmy.today 1 month ago
The point here is that in many jurisdictions doing charity exempts you from certain taxes, and it is possible to shuffle money around under the disguise of philanthropy while still getting all the financial benefits like an actual charity
victorz@lemmy.world 1 month ago
Well that’s disgusting, ain’t it. 🫤
Valmond@lemmy.world 1 month ago
Amen
interdimensionalmeme@lemmy.ml 1 month ago
Because they are tax avoidance mechanism first and charity seconds.
Money is a brokering system of power, charitues being tax free makes these entities unaccountable to democratic institurions.
That’s how we ended up with this infection of corrupt megachurches.
The “prosperity gospel” is billionaire-serving propaganda. It empowers their formation, growth and necessary abuses that come from such widespread exploitation.
victorz@lemmy.world 1 month ago
Gotcha. That sounds very bad indeed.
Valmond@lemmy.world 1 month ago
Giving away money? You sweet summer child.
Research don’t want “his” (the foundations) money, it comes with so many strings attached all your lives work now belongs to the B&M foundation.
victorz@lemmy.world 1 month ago
You sweet summer child.
Alright dude, I don’t know much about the foundation, sorry. 🤷♂️
ayyy@sh.itjust.works 1 month ago
Search the web for “polio”
Slovene@feddit.nl 1 month ago
Google en passant.
dan@upvote.au 1 month ago
(no taxes on charities).
What type of taxes are you talking about?
LandedGentry@lemmy.zip 1 month ago
Valmond@lemmy.world 1 month ago
Their pr firm seems to function very well at least.
Guess you’re going to whitewash bezos, musk and zuckerberg next?
LandedGentry@lemmy.zip 1 month ago
GreenKnight23@lemmy.world 1 month ago
the ends don’t justify the means.
Hitler experimented on hundreds of thousands of Jews and the medical world benefited from it greatly.
does that mean you’re going to nuance the Nazi regime because they “did some good”?
no amount of good is worth the ounce of evil used to make it.
Valmond@lemmy.world 1 month ago
Every dictator did “some good work”, are you thinking they are good people?
IMO your moral compass need maintenance.
FauxPseudo@lemmy.world 1 month ago
It capitalized Wash because spell checker is the leaf on the wind.
Lemminary@lemmy.world 1 month ago
Lol no. Of all the sleazy and greasy millionaires, Gates is one of the few whose actions speaks for themselves. Dude has been doing noble causes for most of my life.
I’m all for talking shit about the rich, but it better be true.
Valmond@lemmy.world 1 month ago
His pr firm really works well.
Check out when elon ditched his pr firm. He went frm that loved lil crazy fun type to what he really is.
Valmond@lemmy.world 1 month ago
Name one bad historical person that didn’t do at least some good.
Your moral compass is broken.
Honytawk@feddit.nl 1 month ago
The charity did more than some good though.
Valmond@lemmy.world 1 month ago
That’s not how it works, it’s not like “I do some good, now I can do some bad”. It does not even out.
Bad people doesn’t become good because “some good things came out of it”.
If you do bad, then you are bad.