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A wealth tax wouldn't prevent the Gates Foundation from existing, it would encourage it -- instead of keeping personal wealth that's going to be taxed, the wou
by Johnny555 4y ago
A wealth tax wouldn't prevent the Gates Foundation from existing, it would encourage it -- instead of keeping personal wealth that's going to be taxed, the would-be billionaire can set up a charitable foundation like the Gates Foundation to spend the money.
Since the charity is run by a board and bound to abide by its charter, it's not the same thing as the person controlling the wealth himself. The Gates Foundation is not going to buy Bill Gates a private island with a $100M super yacht to get there.
- thrwy_meta 4y ago>>>Since the charity is run by a board and bound to abide by its charter, it's not the same thing as the person controlling the wealth himself I would expect this to be a "distinction without a difference" if the billionaire is careful/competent about how he staffs the board and how he writes the charter.