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Thanks, Michael! Paging Mark Cuban.....
There are 50 billionaires in Texas, thus far the Houston Texans owner promised $10 million and Dell $36 million.
Earlier quoted context omitted.
Seems that's also what Trump is doing, he's using foundation money, not his own personal money.
Where do you think the foundation gets its money? http://philanthropynewsdigest.org/news/michael-and-susan-del...
Sometimes he uses it to buy portraits of himself for $20,000.[0]
[0]https://www.washingtonpost.com/news/post-politics/wp/2016/11...
Earlier quoted context omitted.
He may have already donated this money to the org. So, this may be funding allocation not a donation. Or this could be new money I am not sure.
Again, distinction without a difference. Is it a "funding allocation" if I was going to spend $100 on a night out but choose to donate it instead? It's both. And still just as much a donation.
Now that it's in the charity it's not your money in that you can't legally use it on a night out.
So, there is a very big difference in donation = tax deduction, allocation = no additional tax deduction.
Earlier quoted context omitted.
He's reallocating 39.6 percent of 36mm to Harvey victims instead of his taxes. If you're going to be a clown at least get it right.
In addition to this, how much you can deduct is limited in multiple capacities, so he may not even be able to deduct the full amount. https://www.irs.gov/charities-non-profits/charitable-organiz...
Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government.
The problem is not that the money is private, but that it's donation relies on the compassion of individuals, not on laws.
If that's not the case and these donations are a tiny portion of the funds for the relief effort, then why do we make such a big deal about them, when there are probably a lot of other people who have donated a similar percentage of their (much smaller) net worth?
Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
> donation relies on the compassion of individuals, not on laws.
It would be odd to expect laws to be more compassionate on average than all the individuals under the laws, particularly in an ostensibly democratic society. Yet I can think of several plausible reasons to expect laws to be less compassionate on average than individuals.
Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
I'm not sure what to think of that attitude. I understand the motivation, but I find this statement particularly odd: > donation relies on the compassion of individuals, not on laws. It would be odd to expect laws to be more compassionate on average than all the individuals under the laws, particularly in an ostensibly democratic society. Yet I can think of several plausible reasons to expect laws to be less compassi…
Not if you assume that compassion isn't complete selflessness, and at least some of the population understands on some level the adverse incentives associated with things that are game-theoretically similar to tragedy of the commons.
Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
Sincere props to Michael Dell and other very wealthy individuals who are donating generously, but it raises the question of why this sort of gesture is even necessary in our society. Making people financially whole and getting them back on their feet in the aftermath of a disaster of these proportions should be handled by insurance, and when that falls short, the government. The problem is not that the money is priva…
Sometimes a good thing is just a good thing...
Earlier quoted context omitted.
Where do you think the foundation gets its money? http://philanthropynewsdigest.org/news/michael-and-susan-del...
But Trump allegedly doesn't donate to his own foundation unlike the Dell's or the Gate's foundations.