Quote:
Originally Posted by topfiverecords
He should pay capital gains tax on the sale of the shares, donate the remaining funds and then allocate the benefit of the charitable tax credit to whatever he wishes. This kind of stuff is the reason the US is in financial trouble.
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The US is in financial trouble (?) because philanthropists don't pay enough taxes on money they donate?
I mean, I get why some may be skeptical, but look at the circumstance here. I doubt MZ was thinking "To honor and inspire my daughter who was just born, I will use my fortune to... find ways to minimize taxes through LLC"
I think its pretty obvious this is a philanthropist deed. MZ isn't like the Clintons spending tons of money on suites, nice cars, political lobbying, owning resort homes and having expensive parties. MZ is more like Buffet, normal car, living a very simple live home (besides buying neighboring houses for privacy?) and very modest social gatherings. The world would be better if more wealthy people were like him (despite reducing taxes to the USA)