Does philanthropy actually reduce wealth inequality?
The hard truth of how billionaires take advantage of our charity tax system to avoid millions in taxes.
In this video we cover charitable donations, donor advised funds, the problem with donor advised funds, philanthropy not solution and donor advised funds not giving. Furthermore private foundation tax writeoff, donor advised funds tax write off and donation tax write off. Additionally donation deduction charitable giving, charitable giving harm society, private foundations not solution and private foundations the problem.
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Each day we are treated with multiple stories of billionaire donating millions to charities as an act of generosity, often with eye-popping figures.
Whether we like the donor’s giving strategy or not, we are encouraged to think of these private actions as choices beneficial to the wider public.
Although most of the time that’s really not the case.
Instead, we should be more thinking as “these are our tax dollars at work.”
The public has a legitimate and appropriate public interest in these seemingly private charitable donations of the ultra-rich.
And as the wealth inequality grows and philanthropy becomes more top heavy –with a growing percent of the charitable giving pie coming from the top 1 percent –we should pay additional attention.
Did you know that we as tax payers actually subsidize these donations, in the form of lost tax revenue?
And the wealthier the donor, the bigger the tax subsidy we provide.
For every 1 dollar a billionaire gives to charity, the rest of us chip in as much as 74% in lost tax revenue,
Charitable Tax Reform For the 21st Century
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What Are Donor Advised Funds And Why Do They Hurt Charitable Causes? | Defined | Forbes
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In this video we will explain to you how the ultra-rich use private foundations and donor advised funds to massively decrease their tax bill and the dark side of philanthropy. We will discuss how effective philanthropy is and the problems philanthropy can’t solve.
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