this post was submitted on 10 Sep 2023
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Clever Comebacks
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Yeah and if he donates a majority of his wealth, thats more than he would have been taxed regardless.
This is exactly the issue. He doesn't "donate" shit. He opens a non-profit that does nothing but funnel his fortune to his children. It's all a sham. Same as with that other clothing company who "donated" their entire fortune.
Not sure about elsewhere, but in Canada a Charity is a special kind of non-profit that has more public oversight as to how they manage their money, and allowed to write charitable receipts. Non-profits might do some good things, but you don’t get a tax credit for donating money to them, and there’s less oversight of how they’re managed.