Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
No, he created a hedge fund structured as a 501(c)(3) to avoid paying taxes on inheritance for his family. The “non profit” may do some good while in the process of tax sheltering a billionaire’s estate, that’s not the primary purpose of it.
https://youtu.be/0Cu6EbELZ6I
I mean, they can't personally use those billions on themselves, so the family is still less wealthy for it. Sure it still gives them political power, but personally, I'd rather have the money than the power. So it's quite possible they do plan on doing good with it. And whoever gets the trust after them still will be required to use it in a relatively narrower way as opposed to the family just buying another house or something.
So it's true to be skeptical, but I don't know if I'd argue it's purely setup to shelter money since it doesn't really shelter money. Its like putting money in an FSA to avoid taxes. Sure, you avoid taxes, but you can only spend it on medical supplies. Is it really sheltering at that point? Honestly, it's kind of sad that the FSA is only example I can think of that most people could theoretically relate to. Billionaires just live in a different reality.
Interesting. The YouTuber you linked to has a very irritating editing style and flow, but it’s obvious that it’s true, nonetheless. I’ve since updated my comment