Re:Minimum Wage Clock
by AlexandrB on Thursday January 04, 2024 @04:44PM
(#38872682)
> And sometimes I think about how many of the richest have a 100% tax bracket as they've pledged their fortunes to charity after death.
That's not the same as a 100% tax bracket, because those resources are free to be deployed while the person is still alive. Also, with charity, the devil is often in the details. The Bill & Melinda Gates foundation, for example, is focused not only on helping stop disease in disadvantaged countries but also encouraging stronger IP protection in medicine[1] and pushing for privatization of education[2].
Charitable organizations can be conduits for transforming economic power into political power. This is not the same as a tax.
That's not the same as a 100% tax bracket, because those resources are free to be deployed while the person is still alive. Also, with charity, the devil is often in the details. The Bill & Melinda Gates foundation, for example, is focused not only on helping stop disease in disadvantaged countries but also encouraging stronger IP protection in medicine[1] and pushing for privatization of education[2].
Charitable organizations can be conduits for transforming economic power into political power. This is not the same as a tax.
[1] https://newrepublic.com/article/162000/bill-gates-impeded-gl...
[2] https://www.washingtonpost.com/education/2019/06/19/bill-mel...