So "charitable" Donations From Billionaires Were BS All Along? Economics Rant Incoming.

So "charitable" donations from billionaires were BS all along? Economics rant incoming.

I've been looking up how to set up a charity trust, like the kind hella rich people use, because I've got this dream of buying land someday and turning it into a public park / food forest that stays public and has maintenance and taxes covered?

But hoooooly shit, just reading up on the kinda of charitable trusts you can set up??? Insane. The #1 person benefitting from that "charity" is the person who donated. It's legal tax evasion, a way to hold investments without paying taxes on them, and get payouts for yourself for a long ass time before a charity ever sees a dime.

Like literally I think I figured out how someone could take a million bucks, put it in one of these tax sheltered trusts, invest and pay themselves 3 million bucks over 40 years, and only leave 200k of it to charity? While still following the letter of the law. No, even better, donating twice as much money to charity as the law requires, far sooner than it actually requires. I'm never again reading an article like "billionaire donates millions to charity" the same way again. ("Billionaire legally turns millions into more millions for himself and his family, who will have to give a few hundred thousand dollars to charity after he and his kids die?")

Like giving money to "charity" through these trusts? Well, that means a way of investing some of your money while avoiding paying income or capitol gains taxes, and every year getting a payout (like up to 50% of the assets in the trust, re-assessed annually as they grow - and 50% is more than most investors would choose to withdraw annually anyway? So it's really just a tax sheltered investment.) (Not even getting into the fact that art is one of the investments you can have, and art valuation is verrry subjective? So you get an art assessor saying the art you bought at 1million is now worth 5million? Okayyy)

So.... If you put money in, and invest it in stocks? Or more cynically, apartment buildings? You can have tax-free paychecks TO YOURSELF, as your investment grows and you can take money out of that investment till you die. Then, if the date you chose to give the leftover money to charity hasn't happened yet? Your kids (or other beneficiaries) get that paycheck.

Like holy shit. When you see billionaires donating lots of money to charity? They could (and probably are) donating it to their damn selves, and kids, while legally evading taxes. It ain't selfless, it's a fuckin moneymaker for THEM.

Now I really get this saying i heard from a corporate accountant I went out with - "a good tax lawyer will ask you how much you want to pay in taxes" ... And what the fuck. Didn't realize how goddamn literal that was.

(Also fun fact I learned from her - most tax laws on the books were lobbied for by a single corporation to give themselves a tax loophole above other companies, and after it becomes law, it has the strange effect of other companies mimicking the financial model of the first, once they catch on, to exploit the same loophole. So there's a huge incentive to make tax laws as confusing as possible - so the competitor businesses don't catch on to the lobbyist businesses secret loophole. And taxes won't get easier or fairer without legislation against corporate political lobbying)

Like even the kinds of tax-sheltered investments that "normal people" know about like IRAs and 401ks are just the tip of the iceberg when you think about how, the more money you have, the less taxes apply to you. Not to mention the whole way the idea of "investment" is really just another word for skimming the profits off another person's labor.

I'd always heard people cynically say that billionaires only donate for the tax deduction, but I thought it meant "don't pay taxes, and give the money to charity" not "don't pay taxes, and invest the money, and make money for yourself and your children tax free"

anyway I don't think I'm gonna make a trust, gonna just keep on giving the food not bombs crew cash because they actually do something with it?

(also if any of y'all nerds think I'm misunderstanding shit, I might be? I'm very much not an economics nerd, just trying to learn and getting p cynical about what I find)

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22. Online Translation: Offer translation services if you're proficient in multiple languages.

23. Affiliate Blogging: Create a niche blog with affiliate marketing as the primary revenue source.

24. Online Art Sales: Sell your artwork, crafts, or digital art on platforms like Etsy or Redbubble.

25. Remote Bookkeeping: Offer bookkeeping services for small businesses from home.

26. Digital Marketing: Provide digital marketing services like SEO, PPC, or social media management.

27. Online Gaming: Stream your gaming sessions on platforms like Twitch and monetize through ads and donations.

28. Virtual Assistant Coaching: If you have experience as a VA, offer coaching services to aspiring virtual assistants.

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Remember that success in making money online often requires dedication, patience, and the ability to adapt to changing trends. It's essential to research and choose the opportunities that align with your skills, interests, and long-term goals.

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TON and Alibaba Cloud Join Forces to Break Guinness World Records

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