this post was submitted on 13 Mar 2024
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submitted 5 months ago* (last edited 5 months ago) by [email protected] to c/[email protected]
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[–] Telodzrum 20 points 5 months ago (1 children)

Bill’s income is near zero, his personal tax burden is probably less than yours. This charitable giving isn’t offsetting his tax liability; it’s a hobby.

[–] Anticorp 14 points 5 months ago

I suppose if you mean traditional income, but he gets tens of billions of dollars per year in capital gains. I remember a few years ago he said "sure, I paid three billion dollars in taxes last year, but I should have paid more". I read about ten years ago that he donated $10 billion dollars to charity and his net worth still went up $9 billion. His financial holdings are so enormous that his net worth still increases regardless of giving away ridiculous sums of money. I remember Chris Rock talking about Gates a couple decades ago and he said "you can't get rid of that much money. You can't give it away fast enough to lose it", and that's a pretty accurate statement.