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A comment on I'm reading the FT and WSJ from 100 years ago each week leading to 1929. Parent comment

Re:I'm reading the FT and WSJ from 100 years ago each week l... by beefield on Monday August 09, 2021 @01:38AM (#28113069)
Yep. Also, if I want to get pleasure from a bag of candies using my hard earned money, most people expect me to pay sales tax and candy shop taxes from profits and whatnot. But if I happen to want to get pleasure by giving the money away to my kids, I should absolutely not be taxed. Or to a charity, in which case I should not only not pay any taxes, but I should also be for some incomprehensible[1] reason be able to deduct the expenses in my taxation... Well, I guess nobody has promised that people should be logical in their preferences.

[1] Yes, yes I know. Charities are supposed to do some good. How, exactly, providing income to candy shop owner so that they can buy education for their kids is less good than your average tax avoidance charity scheme?

[ Parent | on HN ]
Re:I'm reading the FT and WSJ from 100 years ago each week l... by frutiger on Monday August 09, 2021 @02:04AM (#28113177)
> deduct the expenses in my taxation

You don’t get to deduct the expenses from your taxation. You get to deduct the expenses from your taxable income.

That’s a big difference. You can’t make money on taxes by giving it away to charity (unless that charity is somehow fraudulently enriching you).

[ Parent | on HN ]