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Bill Gates thinks the super-wealthy should pay more tax – and plenty of rich people agree
(www.businessinsider.com)
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this post was submitted on 22 Jan 2024
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But not him, he doesn’t have a lot of money. He donated all of it to charity which he is the founding member of and has an exclusive rights on using resources they have. Thus some money gets used yearly for charity, but significantly less than if it was taxed, the rest is kept for when he needs it. The most common way for rich to avoid taxation. So now every time you see some rich dude donating almost all of their wealth to charity… they are creating a banking institution without tax.
But ... they cannot just withdraw that money after they gave it to charity, right? The money isn't theirs anymore.
Bills charity buys assets from him at vastly inflated prices. Money leaks out of the charity.