Tax-trophey. Because they’re just buying an award for themselves using our potential infrastructure
NinaOnTheDesk on
ah yes, philanthropy with a receipt
MonsutaReipu on
I’ve been talking about how Bill Gates is a piece of shit for years but the defense is always people talking about how much he donates to charity. Dude is worth over 100 billion dollars. He already has more than he could even spend in 1000 lifetimes. Donating to charity is, if this is any example, purchasing adoration from the public who will blindly defend and ignore every other thing about you simply because you’ve donated money to charity.
Old_Network_3930 on
tax-tion
QuintessentialIdiot on
I’ll give you two: fauxnation or fauxlanthropy.
ow-myballs on
Rule 3
SeattleEmo on
Misanthropic Charity
aayush_aryan on
CSR (Corporate Social Responsibility)?
Narf234 on
Why would you disincentivize donations? I would just require them to be anonymous. Then you’d get the money but rich a-holes couldn’t brag about it.
WeAreVennom on
AkA Why Mr Beast makes my skin crawl
FloppieTheBanjoClown on
My donations are tax write-offs.
Your donations are tax write-offs.
Exactly how do you think this works?
Deserter15 on
So you want to discentivize rich people donating to charity?
SpankyMcFlych on
Not defending the rich, but the whole point to allowing people to write off charity is to encourage it. If you don’t allow the rich to be smug and condescending while feeling good about giving away their spare change and pretending it makes them a good person they simply won’t do it.
AzettImpa on
You don’t understand what a tax write-off is. People on Reddit never do.
Writing something off DOESN‘T MAKE IT FREE. It’s only deducted from your taxable income, meaning you save a tiny (!) amount of taxes that you’ve paid otherwise.
Let’s say you’ve earned $110 before taxes and the tax rate is 10%. So you pay $11 in taxes. You have $99 in your pocket.
If you donate $10 and write it off, what do you get back?
That’s right, you get only $1 back from that write-off. And that’s not free money, it’s just less taxes that you pay! You still only have $90 in your pocket at the end. You’re poorer than if you had done nothing.
Fuck CEOs and billionaires, of course, but not for this reason specifically. Now if they get a write-off for donating to their own charity and thus evade taxes, that’s a whole different problem.
Glittering-Bat-5981 on
Me when I don’t understand how a write-off and taxes work:
AnonymousUser132 on
People will complain about anything, and yet never do anything to contribute themselves.
Itscompanypolicyman on
Flownating. Like cash flow..I’m workshopping
TheChainsawVigilante on
Auto-asphilanthropy
LoweJ on
I never understand this complaint. Yes, it’s a tax write off. But the amount they give is way higher than the amount that they save in tax. I also couldn’t care less what the reason for a donation is when it will help good causes.
Platypus_Begins on
I think there is a lot of confusion around tax write-offs when it comes to charity. I will explain a common way for how it works. Because you get “fair market value” for what you donate.
Let us say you are rich, you have 10 million in the bank and a some different stocks, and you need to pay 1 million dollars in tax. Instead of paying that 1 million, let us say you have made 1 million investing in Apple. You can donate 1 million dollars worth of Apple stock, without paying tax on selling the stock.
This is the most common way to do it, but you only get a deduction after 0.5% of your adjusted gross income (AGI)
GailynStarfire on
Monetary Reputation Laundering.
Better-Snow-7191 on
Penance
Coycington on
i don’t know enough about the taxes and charities to comment on here, but i do believe the tax write offs for taxes apply to every person, even you and me and they are mostly just meant as an incentive for companies to support charities.
aukstais on
Its money laundering as most of the rich donate money to their own organisations. They dont donate to random charities who would use their money for their goals. They donate money to organisations run by themselves to use the said money to pudh their own agendas or to pay themselves back.
LastStopToGlamour on
We should not disincentivize rich charity. We can honor greater sacrifice. “Blood Gift”
Jokesaunders on
The whole reason to make it a tax write off is to get people to do it more.
QiwiLisolet on
Nonprofit
DismalIngenuity4604 on
Donating to charity is a tax write off for you too, if you have taxable income. That doesn’t make it bad….
-brokenbones- on
You kinda sound like you don’t want them donating to charity…
The reason you get a write off is to incentivize MORE donations. The govt isn’t just about collecting tax money. Its a big part of it, but the govt understands its more beneficial to keep the money in circulation rather than sitting in the govt’s bank account.
yongo2807 on
I am beholden to the bold conspiracy that most people who criticize write-offs, do not comprehend write-offs.
It’s ridiculous how blind dumbed down ideology makes people.
The same people that mock others for wearing red hats, or sporting rainbow colors. Blindness blindness is an insidious cancer slowly but surely eroding democracy.
Miserable_Clerk_4118 on
“They don’t give money… they give it, take it back, and say ‘good job me.’ 😭”
-Rocket1- on
Why would you expect anyone to donate and not write it off? It’s free money, you can just donate more if you wanted to
meganerd20 on
If the money gets to somewhere it’ll help, I honestly don’t care where it came from or what you call it. Yeah there’s aspects of the process when corporations and whatnot do it that leave much to be desired, but at the end of the day if at least *some* of it gets through, that’s what matters most. Gatekeeping donating to charity is itself a very privileged position to take.
Stuck_in_my_TV on
All charities are tax deductible. You can’t take that deduction too. You just have to remember to keep your receipts.
-Jiras on
“legal fraud”
djalal96 on
Yes, fraud.
Ingromfolly on
Tax avoidance?
eduptus on
Lets just say:fucking charity
NoWingedHussarsToday on
Why? Yes, it’s self serving and done to avoid taxes but in the end money is donated and it goes where it’s needed. I’ll take “charity done for tax reasons” over “no charity”.
Bookablebard on
But… It’s always a tax write off?
RollOutTheFallout on
If a poor person gets the money, it doesn’t matter how it was given. Money is money.
Breddit2099 on
They call it… philanthropy
TXGemi on
Does it really matter if they give more to a charity in one go than you will in your whole life? You can claim it too.
balirosa on
I’d rather give money to charity than pay for fudge rounds amirite?
rudistacey on
Moron
SolomonDurand on
Charity itself is not wrong.
I’d argue the government should make an effort to separate company owned tax write businesses from actually charity.
Like put a name that defines them as a company.
I mean. Why would we let billionaires change the meaning of the word?
46 Comments
Tax-trophey. Because they’re just buying an award for themselves using our potential infrastructure
ah yes, philanthropy with a receipt
I’ve been talking about how Bill Gates is a piece of shit for years but the defense is always people talking about how much he donates to charity. Dude is worth over 100 billion dollars. He already has more than he could even spend in 1000 lifetimes. Donating to charity is, if this is any example, purchasing adoration from the public who will blindly defend and ignore every other thing about you simply because you’ve donated money to charity.
tax-tion
I’ll give you two: fauxnation or fauxlanthropy.
Rule 3
Misanthropic Charity
CSR (Corporate Social Responsibility)?
Why would you disincentivize donations? I would just require them to be anonymous. Then you’d get the money but rich a-holes couldn’t brag about it.
AkA Why Mr Beast makes my skin crawl
My donations are tax write-offs.
Your donations are tax write-offs.
Exactly how do you think this works?
So you want to discentivize rich people donating to charity?
Not defending the rich, but the whole point to allowing people to write off charity is to encourage it. If you don’t allow the rich to be smug and condescending while feeling good about giving away their spare change and pretending it makes them a good person they simply won’t do it.
You don’t understand what a tax write-off is. People on Reddit never do.
Writing something off DOESN‘T MAKE IT FREE. It’s only deducted from your taxable income, meaning you save a tiny (!) amount of taxes that you’ve paid otherwise.
Let’s say you’ve earned $110 before taxes and the tax rate is 10%. So you pay $11 in taxes. You have $99 in your pocket.
If you donate $10 and write it off, what do you get back?
That’s right, you get only $1 back from that write-off. And that’s not free money, it’s just less taxes that you pay! You still only have $90 in your pocket at the end. You’re poorer than if you had done nothing.
Fuck CEOs and billionaires, of course, but not for this reason specifically. Now if they get a write-off for donating to their own charity and thus evade taxes, that’s a whole different problem.
Me when I don’t understand how a write-off and taxes work:
People will complain about anything, and yet never do anything to contribute themselves.
Flownating. Like cash flow..I’m workshopping
Auto-asphilanthropy
I never understand this complaint. Yes, it’s a tax write off. But the amount they give is way higher than the amount that they save in tax. I also couldn’t care less what the reason for a donation is when it will help good causes.
I think there is a lot of confusion around tax write-offs when it comes to charity. I will explain a common way for how it works. Because you get “fair market value” for what you donate.
Let us say you are rich, you have 10 million in the bank and a some different stocks, and you need to pay 1 million dollars in tax. Instead of paying that 1 million, let us say you have made 1 million investing in Apple. You can donate 1 million dollars worth of Apple stock, without paying tax on selling the stock.
This is the most common way to do it, but you only get a deduction after 0.5% of your adjusted gross income (AGI)
Monetary Reputation Laundering.
Penance
i don’t know enough about the taxes and charities to comment on here, but i do believe the tax write offs for taxes apply to every person, even you and me and they are mostly just meant as an incentive for companies to support charities.
Its money laundering as most of the rich donate money to their own organisations. They dont donate to random charities who would use their money for their goals. They donate money to organisations run by themselves to use the said money to pudh their own agendas or to pay themselves back.
We should not disincentivize rich charity. We can honor greater sacrifice. “Blood Gift”
The whole reason to make it a tax write off is to get people to do it more.
Nonprofit
Donating to charity is a tax write off for you too, if you have taxable income. That doesn’t make it bad….
You kinda sound like you don’t want them donating to charity…
The reason you get a write off is to incentivize MORE donations. The govt isn’t just about collecting tax money. Its a big part of it, but the govt understands its more beneficial to keep the money in circulation rather than sitting in the govt’s bank account.
I am beholden to the bold conspiracy that most people who criticize write-offs, do not comprehend write-offs.
It’s ridiculous how blind dumbed down ideology makes people.
The same people that mock others for wearing red hats, or sporting rainbow colors. Blindness blindness is an insidious cancer slowly but surely eroding democracy.
“They don’t give money… they give it, take it back, and say ‘good job me.’ 😭”
Why would you expect anyone to donate and not write it off? It’s free money, you can just donate more if you wanted to
If the money gets to somewhere it’ll help, I honestly don’t care where it came from or what you call it. Yeah there’s aspects of the process when corporations and whatnot do it that leave much to be desired, but at the end of the day if at least *some* of it gets through, that’s what matters most. Gatekeeping donating to charity is itself a very privileged position to take.
All charities are tax deductible. You can’t take that deduction too. You just have to remember to keep your receipts.
“legal fraud”
Yes, fraud.
Tax avoidance?
Lets just say:fucking charity
Why? Yes, it’s self serving and done to avoid taxes but in the end money is donated and it goes where it’s needed. I’ll take “charity done for tax reasons” over “no charity”.
But… It’s always a tax write off?
If a poor person gets the money, it doesn’t matter how it was given. Money is money.
They call it… philanthropy
Does it really matter if they give more to a charity in one go than you will in your whole life? You can claim it too.
I’d rather give money to charity than pay for fudge rounds amirite?
Moron
Charity itself is not wrong.
I’d argue the government should make an effort to separate company owned tax write businesses from actually charity.
Like put a name that defines them as a company.
I mean. Why would we let billionaires change the meaning of the word?