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Super-rich warned of ‘pitchforks and torches’ unless they tackle inequality (www.theguardian.com)

submitted 1 year ago by withersailor@aussie.zone to c/news

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[–] archpaladin1@lemmy.sdf.org 19 points 1 year ago (1 children)

She said many rich people wanted to set up their own educational or health foundations without checking whether there was a need or an existing charity or government-funded programme working to address the issue.

When the rich only think about charity as a means to further their own name, it's no wonder nothing ever really gets fixed.

[–] UFODivebomb@programming.dev 2 points 1 year ago

Not just name but tax benefits and grifting opportunities.

Set up charity
Transfer stock to charity. Yay! Tax write off
Charity sells stock. They pay tax but oh well
Charity pays founder as advisor
Other people sending charity money? Bonus!