2 ms·
What the OP described is that as a rich person you can set up a "charity foundation", donate a bunch of money to it (reducing your tax burden), then have the fo
by kevingadd 3y ago
What the OP described is that as a rich person you can set up a "charity foundation", donate a bunch of money to it (reducing your tax burden), then have the foundation hold on to most of the money and when it spends it, spend it on "administration", which could be hiring your friends and family to do fake administrative work
In the case of the Gates Foundation it's more likely to be real administrative work, but even the "good" ones are sitting on a ton of money that could potentially be put to more profitable (for society) uses