this post was submitted on 09 Dec 2024
830 points (95.2% liked)

memes

10547 readers
2658 users here now

Community rules

1. Be civilNo trolling, bigotry or other insulting / annoying behaviour

2. No politicsThis is non-politics community. For political memes please go to !politicalmemes@lemmy.world

3. No recent repostsCheck for reposts when posting a meme, you can only repost after 1 month

4. No botsNo bots without the express approval of the mods or the admins

5. No Spam/AdsNo advertisements or spam. This is an instance rule and the only way to live.

Sister communities

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] moral_quandary@lemmy.world 2 points 1 week ago

What makes high-end philanthropy different from low-end philanthropy?

When you donate something to a charity (money or physical objects) do you then get to keep using the money or objects? No, you no longer have them in your possession - you have relinquished control of it.

The rich set up foundations called a Donor-advised fund
It is: a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time.

Ask yourself why every single billionaire starts his or her own charity instead of giving to the thousands that already exist. Because once it is gifted like that it no longer belongs to them. They are literally donating money to themselves and avoiding taxes.