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bramletabercrombe t1_j6b0kf6 wrote

Reply to comment by jppianoguy in This is a cult, right? by CassCat

Read up on what that scumbag Walton family does with their billions. They use CLATs to shelter their money from taxes.

The basic operation of a CLAT is as follows. The donor gives property to
a trust. The trust then pays the charity a certain amount each year for
a certain number of years. When the trust terminates, the property is
then transferred to the donor's heirs.

This is a modern kingdom. Not only has this scumbag family spent the last 30 years sending all of our manufacturing and trade secrets to communist China but they never had to pay a dime in taxes while they were selling out the U.S.A.

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