If I sell a million dollars of stock and pay $400k in taxes, I have $600k. If I give away $1,000,000 in unrealized gains I get either nothing, or I can do a tax write off and maybe save like $200k in taxes. Either way I’ll have less than the $600k I would have had. At best it’s a workaround to give several other people working for the “charity” money, but at that point why not just put those people on my own payroll and give them the $600k?
If it’s super important for you to have the last word and you wish to respond, go for it.
I am not going to reply to you anymore because you are failing to understand.
If I sell a million dollars of stock and pay $400k in taxes, I have $600k. If I give away $1,000,000 in unrealized gains I get either nothing, or I can do a tax write off and maybe save like $200k in taxes. Either way I’ll have less than the $600k I would have had. At best it’s a workaround to give several other people working for the “charity” money, but at that point why not just put those people on my own payroll and give them the $600k?
This is the last time I will respond to you - you simply are not understanding.
They are not giving away the money the same way as you or I do when we donate to charity.
They give the money to themselves!!!
The foundation is in their name and they are in charge of how that money gets used.
Money is power and influence. They can do a lot with that money.
Look at that infographic I posted above as a reply to another commenter.
Bill Gates uses his foundation to donate to companies that benefit his existing stock investments.
https://www.thenation.com/article/society/bill-gates-foundation-philanthropy/
If it’s super important for you to have the last word and you wish to respond, go for it.
I am not going to reply to you anymore because you are failing to understand.