TheBroodian [none/use name] to politics • 2 years agoBillionaire philanthropy is a scamimagemessage-square45 fedilinkarrow-up1193
arrow-up1193imageBillionaire philanthropy is a scamTheBroodian [none/use name] to politics • 2 years agomessage-square45 Commentsfedilink
minus-squarecomi [he/him]hexbear4·edit-22 years agoYou have to pay 4 billion in taxes, instead you donate 1 billion to your failchild enterprise, now you pay 3 billion in taxes (or spread it over the years). It’s giving freedom to control where your taxes spent. At least I think that’s how it works link
minus-squareLurker123 [he/him]hexbear3·2 years agoNah it’s a tax deduction not a tax credit, so you only lower your tax liability to the extent of your marginal tax rate x the amount donated. link
You have to pay 4 billion in taxes, instead you donate 1 billion to your failchild enterprise, now you pay 3 billion in taxes (or spread it over the years). It’s giving freedom to control where your taxes spent. At least I think that’s how it works
Nah it’s a tax deduction not a tax credit, so you only lower your tax liability to the extent of your marginal tax rate x the amount donated.