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December 2, 2015
Latest from the death cult
Sad news from San Francisco, today.It seems Mark Zuckerberg, who has by age thirty or so amassed a fortune of some forty-five billion (thousand million) electronic dollars with his “Facebook” obscenity, intends to loose “99 percent” of this holding. He and his paediatrician wife, Priscilla Chan, announced this in the most sick-making, sentimental way they could think of: framing it as a letter to their (presumably illiterate) newborn daughter. Their huge fortune is now earmarked (if they are telling the truth) to “advancing human potential and promoting equality” — i.e. the usual smug liberal and progressive stodge. I stagger to think of the harm so much money may do. : Essays in Idleness
Posted by gerardvanderleun at December 2, 2015 10:25 AM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
Sumbitch is using the tax code to avoid taxes. Why doesn't he just give away his money.
A flat tax with no deductions would take care of assholes such as these. If they want to be thought of as swells, really give, give your money, not taxpayer money which is the government's money.
Posted by: Vermont Woodchuck ![[TypeKey Profile Page]](http://americandigest.org/sidelines/nav-commenters.gif)
at December 2, 2015 2:42 PM
Chuck: We have a flat tax. It is called the Alternative Minimum Tax, The rate is 26%.
Posted by: Fat Man at December 2, 2015 2:59 PM
It is all tax driven however. The foundation and the trusts will save capital gains tax at 23.4% and estate tax at 35%. Besides, controlling a foundation can be a wonderful thing. Just ask Hillary.
A friend of a friend was the accountant for a tech billionaire who died without heirs. He wound up in charge of the Foundation. he lived very well. Now his daughter is running it. She lives very well.
The real tax reform would be to tax foundations and require them to be dissolved within a limited time.
Posted by: Fat Man at December 2, 2015 3:04 PM
If the income tax rate was 5% for everybody there would be almost nobody trying to avoid it.
This is rhetorical because I am against robbery.
Posted by: ghostsniper at December 3, 2015 4:29 AM
> We have a flat tax. It is called the Alternative Minimum Tax, The rate is 26%.
No, we don't have a flat tax. That is simply a rate that kicks in under certain circumstances. Our tax code is progressive - the more you earn, the more you pay. And before you start, yes there are a *bleep*load deductions, credits and other bumfoolery that makes the whole thing insanely complicated and change the outcome
I rather like the idea of a flat tax where everyone pays X%. It means everyone has skin in the game.
Posted by: SteveS at December 4, 2015 6:00 PM