Why I’m Giving $1.8B for College Financial Aid

Re:Why I’m Giving $1.8B for College Financial Aid by JoeAltmaier on Monday November 19, 2018 @08:28AM (#18486228)

Taxes are the art of plucking the goose as to get the most feathers with the least squawking. I am not on the side of rationalizing why somebody 'owes' taxes on money already taxed.

[ Parent | on HN ]

Re:Why I’m Giving $1.8B for College Financial Aid by Retric on Monday November 19, 2018 @08:32AM (#18486248)

I am not saying he needs to pay more. I am saying the charitable deduction like all deductions are effectively just another form of spending.

We hand out money to people buying a Tesla Model S’s, or paying a mortgage payment. Agree or disagree with the idea, just understand it’s not free.

[ Parent | on HN ]

Re:Why I’m Giving $1.8B for College Financial Aid by JoeAltmaier on Monday November 19, 2018 @06:57PM (#18490794)

Except 'Not collecting money' and 'spending money' are not quite the same thing. Almost, but not quite.

[ Parent | on HN ]

Re:Why I’m Giving $1.8B for College Financial Aid by Retric on Monday November 19, 2018 @09:26PM (#18491420)

IRS considers debt forgiveness income. https://www.irs.gov/taxtopics/tc431.

So, legally they are the same thing.

PS: Though with various caviots as the law is never that simple.

[ Parent | on HN ]