return2ozma@lemmy.world to News@lemmy.world · 20 hours agoBill Gates Admits to Affairs with 2 Russian Women While Married to Melinda and Apologizes to Staff for Past Epstein Tiespeople.comexternal-linkmessage-square21fedilinkarrow-up1216arrow-down13
arrow-up1213arrow-down1external-linkBill Gates Admits to Affairs with 2 Russian Women While Married to Melinda and Apologizes to Staff for Past Epstein Tiespeople.comreturn2ozma@lemmy.world to News@lemmy.world · 20 hours agomessage-square21fedilink
minus-squareSerinus@lemmy.worldlinkfedilinkarrow-up2arrow-down2·10 hours agoThat’s not how taxes and charity works. If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70. (You only can claim itemized deductions if you have more than, roughly $12k of them, 24k if you’re married.)
minus-squarematlag@sh.itjust.workslinkfedilinkarrow-up4·4 hours agohttps://cagj.org/2020/04/the-nation-bill-gatess-charity-paradox/ You still assumes big money operates like commoners. That’s never the case.
minus-squareKnock_Knock_Lemmy_In@lemmy.worldlinkfedilinkarrow-up3·7 hours ago If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70. But if you own and control that charity then all you have done is move $100 from one pocket to another, avoiding giving $30 to the government.
That’s not how taxes and charity works.
If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70.
(You only can claim itemized deductions if you have more than, roughly $12k of them, 24k if you’re married.)
https://cagj.org/2020/04/the-nation-bill-gatess-charity-paradox/
You still assumes big money operates like commoners. That’s never the case.
But if you own and control that charity then all you have done is move $100 from one pocket to another, avoiding giving $30 to the government.