Would be interesting to know which costs taxpayers more... Small business owners doing that (and having the business pay their personal expenses as well) versus what Bezos is doing
Bigger picture, some small business that then spends most of that money and circulates it back into the economy, or Bezos who buys a yacht in Italy and houses it in the Caymans.
You don't need to convince me that the tax code is wack. I spend a lot of time and energy dealing with exploiting it.
Consider - I have some stock that was purchased for pennies. If I sell let's say, $100 of it, I pay $15 in taxes (let's go with the 15% bracket for now). But if I *donate* the stock, I can deduct $100 off of my taxes, including the $15 that was never going to be mine in the first place. Let's say I save say, $40 in taxes. So instead of keeping $85 by selling, I donate $100, and reduce my tax burden on other income by $40.
Vs some "sucker" who just donates money that was post tax, doesn't get the cap gains deduction, and doesn't itemize anyway so isn't deducting the donation anyway.
RecentWTF is up with this Clown... by illiniray
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