18 October 2017

Charity Donation: the ultimate tax loophole

No wonder that inequality is rising - the rich, and even more so the super rich, can in effect 'privatise' their tax dollars by squirrelling their fortunes into 'foundations' and 'trusts' that prevent proper inheritance taxes to be applied. Can Soros' institute really be called a charity? Who decides what the money is spent on? Who manages the foundation/charity? Why can ordinary workers not apply the same to their pay-cheques? Maybe a foundation to care for the elderly (their ailing parents) or their pets? And then call themselves 'philantropists' as well?

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