Death and Taxes

19/09/2024

"Death and taxes: the only sure things in life, they say."  But for the rich there is a loop hole - 3 minute read

The rich get to transcend such irritating sure things; their spirits living on in perpetuity, and their wealth accumulating tax free.   

The wealthy can construct a tax-free financial pyramid. Like spirit guides, these funds are directed according to the wishes of the pyramid's owner, indefinitely.

These pyramids are known by various names, such as donor-advised funds or private ancillary funds, and serve as charitable financial instruments. They are enduring, provide tax deductions for their construction, and any income generated by the pyramid is tax-free."

These funds grow in value year after year and can support any cause the owner chooses, as long as it fits within a charitable definition. This can even include 'research' foundations that promote the ideologies of the pyramid owners.

Donor-advised funds and similar vehicles were valued at $83 billion in the U.S. in 2022. The wealthy enjoyed tax deductions, resulting in a loss of $10 to $20 billion in tax revenue for the government. When you factor in all charitable giving, the total tax revenue lost rises to between $40 and $50 billion. This means either government services will be cut, or the average taxpayer will face higher taxes.

So like in ancient times the rich get to build their pyramids, pursue their goals  forever while and the average tax payer like loyal worker bee's support them.


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