Bill Gates and Linus Torvalds have apparently never met in person before, despite their pseudo-rivalry.

  • Fushuan [he/him]@lemmy.blahaj.zone
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    9 hours ago

    It’s more nuanced though. Here’s how rich people use charities to gain wealth:

    Rich person has tons of money that would be taxed if bill Y passes. Rich person creates a charity and donated 20% of what they would had to pay to the IRS to the charity, with that money the charity uses half for good causes and half is given to X lobby company, which then lobbies politicians to avoid passing that bill.

    In the end, the rich person saved 80% of what they would had to pay.

    Yeah, 10% went to good causes but imagine what the society could afford if 100% went through instead of 0.

    This is a very rough outline of how they do it, but the summary is that they use charities to donate to lobbies while skipping taxes on the donation itself.

    • binomialchicken@lemmy.blahaj.zone
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      3 hours ago

      Yeah, 10% went to good causes but imagine what the society could afford if 100% went through instead of 0.

      It’s the US, so more weapons I presume.

      • Fushuan [he/him]@lemmy.blahaj.zone
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        3 hours ago

        That’s the sentiment that allows these rich fucks to avoid paying taxes without big backlash. First focus on collecting, then on spending…