[lifestyleguru]

They give back through their charities and foundations. How would you cope with your life without their charities?

[kevmo]

Billionaire philanthropy is just another tax-free way oligarchs manipulate our society.

[gruez]

How dare they "manipulate our society by"... reducing malaria and fighting climate change. We'd be far better off if we relied on our ineffectual and corrupt (in case of malaria) governments to do it instead.

[tonyarkles]

If all charities were net-good I would tend to agree with you, but they’re not.

[gruez]

How do you define "net-good"? One man's YIMBY charity to make housing more affordable is another's astroturf operation to destroy neighborhoods so real estate developers can make a quick buck.

[Clubber]

It's a tax dodge.

[ta1243]

How does this tax dodge work?

[Clubber]

https://www.axios.com/2022/09/17/the-ultimate-billionaire-ta...

https://markets.businessinsider.com/news/stocks/warren-buffe...

[ta1243]

OK, so rather than giving $50m to the government they give $100m to charity?

On the surface this seems reasonable. Give $50k gift to your local wildlife sancturary for example, and get invited to the annual fundraising meal.

Looks like the big loopholes involve things like 501(c)(4)s

Without spending too long trying to workout the loopholes, it seems the larger problem is with the definition of a charity in the first place?

[Clubber]

>OK, so rather than giving $50m to the government they give $100m to charity?

Any income the government doesn't collect is made up for by the middle and lower class and/or more debt which increases inflation, which is mainly a middle and lower class burden.

For a guy who claims everyone should pay their fair share, he sure takes advantage of a lot of loopholes which he probably helped pay to have written.

He's an OG corporate raider and should be thought of as such, rather than a benevolent capitalist.