Original post from u/Kvolti on reddit
More informations and pictures here:
https://www.greenpeace.org/italy/storia/27709/abbiamo-contestato-jeff-bezos-a-venezia/
Original post from u/Kvolti on reddit
More informations and pictures here:
https://www.greenpeace.org/italy/storia/27709/abbiamo-contestato-jeff-bezos-a-venezia/
Billionaires go so far as to ask donations to charities from their service customers so they can pay less taxes. They are effectively making themselves richer, common folk poorer and calling it altruism because some charities get money from average income people rather than billionaires.
This is a common misconception. If a person or corporation takes money for charity, like rounding up for bill at point of sale, that entity doesn’t get to write that off taxes. They can claim publicity for raising money for charity, but they didn’t get any direct financial windfall. They would only get something if they were to say, match the donation contribution.
Here is the kicker though; Often the entity in question will OWN the charity they are donating to.
Except if they found a loophole such that money you donate first goes to their business account and they make it legally seem like it is a donation made from their business account in which case they might still get a tax refund. Note that this is a speculation on my part and I am wondering if there are indeed loopholes that enable this or laws are clear enough to prevent this in any form and shape.
It might also work the same way if you make a donation through their own charities. How it would work is they donate some of their profit to their own charities and get the tax refund but they don’t use that money for charitable acts (as defined by common sense). They also get customer based donations to their charities which instead they use for what one would consider charitable acts, so the charity looks active instead of hoarding money. And then they use the other money they have donated themselves and gotten a tax refund for as whatever agenda pushing reasons as they see fit ( including political donations, investments in other companies ) since the definition of charitable act is quite loosely regulated.
This is what, me a regular guy, comes up with thinking about it for five minutes. An army of lawyers will make sure to find a way to turn your donations into tax reducing investments for the company.