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[deleted] t1_ise4ghs wrote

Reply to comment by TheStoryGoesOn in TIL that before Lincoln Center could reward David Geffen's $100 Million donation by renaming "Avery Fisher Hall" to "David Geffen Hall", they had to pay the heirs of Fisher - the original donor - $15 million. Geffen's donation has a provision that requires his name to be on the hall "in perpetuity". by AspireAgain

That’s how the rich put some of their money to work, all part of some master tax avoidance scheme.

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MaskedMexicanWrestlr t1_isebcvs wrote

Yes, tale as old as time. Give away money to get rich! You can even write of a portion of it!

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Just_the_facts_ma_m t1_isery53 wrote

No one, ever, has donated $100MM to save $20MM in taxes.

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[deleted] t1_isfm1he wrote

When did I ever say that?

It seems like you are reaching, hard, to play the Redditor contrarian here.

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Just_the_facts_ma_m t1_isfy95t wrote

When you said giving away $100MM was a “master tax evasion scheme”.

It shows an unfamilairity of how tax writeoffs work.

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[deleted] t1_ish0syp wrote

I said charities and deals like this are (EDIT: how) the rich put money to work for themselves while avoiding some amount of taxation (paraphrased).

A "tax avoidance scheme" somehow balloons into all these assumptions on your part probably because you're acting in bad faith.

How the fuck anyone can know the breadth of another person's knowledge and extrapolate as far as you have from 2 sentences is beyond me. Ego much?

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Just_the_facts_ma_m t1_ish1j3w wrote

How? It’s simple. Anyone who think giving money away is a “tax avoidance scheme” doesn’t understand how taxes work.

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[deleted] t1_ish2084 wrote

Why carry on with all this nonsense? You can google this yourself if you're so smart.

https://apnews.com/article/business-philanthropy-b8acb10f529ac2dbaff7631021d823c9

https://www.nytimes.com/2018/08/03/business/donor-advised-funds-tech-tax.html

https://www.fidelitycharitable.org/guidance/charitable-tax-strategies/reduce-taxable-income.html

Anyone who thinks the rich give away money for free is naive at best, and a shill at worst.

I think it's more that you act the contrarian to feel smart.

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