A Boring Dystopia

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Bill Gates, Jeff Bezos and Sam Altman among billionaires investing in 'Freedom City' to be built on Greenland (www.uniladtech.com)

submitted 5 days ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] logicbomb@lemmy.world 15 points 5 days ago (2 children)

Somebody said that the Bill and Melinda Gates Foundation is a way for him to funnel money to his children without paying taxes, and that the disease fighting stuff is just a side benefit.

[–] jonne@infosec.pub 10 points 5 days ago* (last edited 5 days ago)

I mean, the thing is that a donation to philanthropy is tax deductible, so even if you control the charity 100%, it counts. Instead of paying taxes, you're just paying yourself. And once it's in that charity, you can use that money for any charitable cause, even if that cause benefits the non-charitable side of your portfolio. This means that you can

pay for your own PR
use the charity money to buy a bunch of medicine to eradicate some disease, while you have investments in the pharma company that will provide said medicine
donate to academia to steer research goals and then become a early investor in any spinoff companies that result from that
donate to a charity run by a politician/other rich person to curry favour

It's not a coincidence he's become richer despite 'donating his wealth'.

[–] IronBird@lemmy.world 3 points 5 days ago

it is 100% a tax-avoidance scheme, they occasionally spend that $ wisely...that $ would 100% be more effeciently spent if done via a properly coordinated/supported government effort.

that being said...in the Land of the Free...considering how shit is run I 100% understand why so many of these people keep as much of their $ as possible out of the feds hands. the ratfucking doesn't stop when Dem's are running things, it's just slightly better hidden.