Re:Chuck Feeney Is Now Officially Broke
by lotsofpulp on Tuesday September 15, 2020 @05:37PM
(#24486997)
Donate to a selective school, and your descendants get higher probability of admission.
Re:Chuck Feeney Is Now Officially Broke
by strken on Tuesday September 15, 2020 @06:14PM
(#24487349)
It's like the government is matching your donations, and in the case of certain charities, that means the government is effectively funding lobbyists for you.
"Loopholes" are often in the eye of the beholder.
I've heard the misconception that one could use a deduction to bump yourself into a lower tax rate on your entire income, and therefore come out ahead, but that's not how U.S. federal income tax rates work.