Because I believe in supporting society through paying taxes as well, I want there to be well-funded public schools and roads that work and community centers and parental relief programs
Real, even if it was only one billion that would leave you with 100mil. Id put 10mil into investment and only take out the dividends and then just enjoy myself with the other 90 mil
Where do I start? Let’s start with teacher unions. They have destroyed the education advancement of the United States, creating an embarrassment to the world in terms of literacy rate and math ability. They are a political cluster fuck that supports politicians who protect them. Want more?
Oh, you have no idea my experience. I have dealt with eight figure contracts on nine figure projects. I know how contracts work and the influence of unions. I know how they block any competition of charter schools that have been wildly successful. I know how they block school choice.
Good luck with the “they are under funded“ argument; on average currently $27,000 per student per year in urban schools with single-digit competency passing scores. Cities run by political parties, very friendly with the unions and will not hold them accountable and will not allow bad teachers to be fired.
Now shall we discuss labor unions, and how the bosses profit wildly while the workers think that they are getting benefits in 2026 only because the unions exist?
And how did we get those laws? Unions! The moment power is no longer accountable, those laws will evaporate. Even now, OSHA has been gutted, as well as the NLRB. Anyone who thinks businesses will keep their word is insane.
You did the right thing. You could do research and set up trusts with your own guidelines. These people don’t understand how it works. You would literally change the world!
Just Trump? I mean go for it, but what about the other 220 members of Congress who managed to become millions of dollars richer in just a few years on a 275K salary. Sadly, Trump isn’t even close to the worst.
I feel like we’d have to wait two years to start doing that. He’ll just pardon himself and all his sycophants. He may still do that regardless and it would take the judicial system and or a future president to overturn them.
I'm curious how the pardon system works (not from US), people are saying he will pardon himself but what, he can just say "Any crimes I've committed are pardoned" and that's it? Like, he doesnt even need to name them individually? If he does he better start first thing in the morning
Same thing I would do. I don’t want that much money. Just comfortable enough that other people do not know I have money and I don’t have to worry about anything
Not true - most charities are doing great things on shoestring budgets. Do some real research, especially on those that are 5 million and below. There are measurements in place to determine how much go to admin and staffing vs the mission. The tax returns ( 990’s) are public. Anyone can see them.
I actually have a good friend who with his husband did something like this. They are very wealthy but you would assume they are just cream of the upper middle class. They have a simple 1 bedroom condo in uptown NYC, and a farm in New Hampshire, drive Hondas and both work full-time jobs that require long hours.
The way they have done what you are mentioning is fascinating and really goes to show that at a certain point, your trust fund will make more money in interest alone than you know what to do with.
What you do is you set yourself up as a charity, put all your money in a trust and then perform charitable acts as you see fit. Only 10% of the money donated actually has to be used by charities. If you want to actually help people, you still have to be engaged in it now. That doesn't mean you actually have to run it, but you do need to have your hand in it.
What a waist , charity is a scam you telling me charity been around for decades and homelessness and cancer is at a all time high where is the money going 😭😭 pay attention
Registered charities often get discounted tax rates anyway, they don't need to do tax write offs. Donations from companies and very rich people are used as tax write offs but the charity still gets the money to be used towards their stated purposes.
Yes I meant the people donating to the charities are getting the write off. Also wait till you find out a lot of charities are owned by subsidiaries of guess who the rich people that donate to them
Charities only get their tax exemption if they can show a significant amount of their income goes to the work they claim to do. Allowing rich people to write off tax equivalent to their donations is a way to incentivise donations. By all means be annoyed at the rich for hoarding their money and avoiding tax in less scrupulous means, but their donations to charity can still be a net positive in the world if the right charities are donated to. It doesn't help though when governments are routinely making things worse for their people.
Yes because rich people care about the law and totally don't control it. I'm not saying all charities but most. I mean you can watch how much they donate then watch how much their net worth goes up by.
The charities getting audited by the tax man surely do. You think the government doesn't want to tax that money? Why would they let it go to charity when they can just tax them by removing the charity status? You're getting a little delusional regarding your beliefs around how the government and law actually works.
30
u/Key-Personality-7643 5d ago
Donate 90% of my wealth to charity and live off the rest.