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I dislike the articles misleading people about taxes to foster more misguided populism. A company giving away 100% of some value to avoid 20% in taxes is not th
by SideQuark 4y ago
I dislike the articles misleading people about taxes to foster more misguided populism. A company giving away 100% of some value to avoid 20% in taxes is not theft from the people in any manner whatsoever. It's more costly to the company to give away money than to simply pay taxes.
If society doesn't want charities, then do away with them. If society wants tax exempt charities, then don't rabble rouse when people or companies donate to them.
- jesusofnazarath 4y ago[dead]
- bcrosby95 4y agoThey gave away 100% of some value... to a charity the company owners run. So they basically gave it to themselves and saved 20% on taxes.
- SideQuark 4y agoNo, before they actually owned the money, and could do anything they wanted with it. Once it's given in this format, even if they're on the board, the money is now legally owned by the charity and must be used for that purpose. They cannot claw it back, they cannot buy Ferraris with it, it's gone. Your comment is exactly an example of beliefs articles like this foster, despite being wrong. Learn how laws work before making unfounded assumptions.