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I think Chan and Zuckerberg will do incredible things with this money, but I also appreciate the cynicism of ultra-rich philanthropy. We as a society will be r
by sharkweek 11y ago
I think Chan and Zuckerberg will do incredible things with this money, but I also appreciate the cynicism of ultra-rich philanthropy.
We as a society will be reliant on "hoping the kings are just with their gold" as they make decisions based on their personal preferences. This is undemocratic and should be under perpetual scrutiny. I likely agree with what Chan and Zuckerberg will be doing with this money, but what about other ultra-rich folks giving a ton of money to high priced arts where their relatives all work in high paying jobs in the name of charity? Nothing inherently wrong with this in a vacuum, I love the arts, but when these donations take money away from other tax-reliant services such as schools, the net benefit to society should certainly be considered.
- adventured 11y agoThose relatives with high incomes are almost guaranteed to get taxed at a higher rate via income than any other distribution formula of that money would produce. In the US if you're in typical high net worth locations, you're going to pay ~33% to 50% on high amounts of income between state and federal. So what's the problem? Those high incomes get taxed at a high rate. There's a reason the rich pay such an extreme portion of all income taxes in the US.
- deleted 11y ago[deleted]