Mark Zuckerberg gives away his fortune to ...

[FluffyMcDeath]

himself - gradually. Seems like a good deal for him to give 99% of his stock to a foundation under his control and get a tax rebate for doing so.

 

[Robert]

Yes, I had a smile to myself about that when I heard.

 

[FluffyMcDeath]

Hillary released her tax return form. Why am I posting it to THIS thread? Check page 29.

 

[metalman]

Hillary released her tax return form. Why am I posting it to THIS thread? Check page 29.

 

[JoBBo]

himself - gradually. Seems like a good deal for him to give 99% of his stock to a foundation under his control and get a tax rebate for doing so.

I missed this apparently. Thanks.

The part that really bothers me about this is that he will save taxes because these are tax deductible donations. While I am not sure how accurate this claim is, the article mentions potential savings of 333 million USD for every 1 billion USD that is gifted. In other countries, there are certain limits that prevent individuals from deducting more than a certain percentage, say 5%, of their annual income. This type of restriction seems quite reasonable in this context.

 

[FluffyMcDeath]

The part that really bothers me about this is that he will save taxes because these are tax deductible donations.

That's not the more annoying part about these foundations. The worst is that not only do you get a deduction, but you can still spend the money. Once money goes into these foundations it is often shuffled around and mixed with a lot of other people's money and then laundered and/or spent doing favours and in turn getting them.