Buffett states that philanthropy can be a powerful tax shield if donors wish. Buffett donation, He said yesterdaySaved only 40 cents for every $ 1,000 given. The reason his tax bill is so low is that he earns a relatively small income from wages and accumulates most of his wealth from his holdings of Berkshire Hathaway shares that are not taxed until they are sold. He said.
Buffett saidHuge dynasty wealthThe debate about tax increases for the wealthy is so-called. Buffett rule, Millionaires and the minimum tax proposed to millionaires. Yesterday he reiterated his support for a tax law review. “It’s appropriate for Congress to regularly review the tax system for charitable donations, especially for donors who get’imagination’,” he said.
What do you think? Do I need to change the tax treatment of philanthropy? If so, how? Please let me know: Dealbook@nytimes.com.. Please include your name and location, and we may feature your response in future newsletters.
What’s happening here
Congressmen are pushing for a drastic bill to reduce the power of Big Tech. After hours of sometimes controversial debate, the House Judiciary Committee Approved efforts Suppress the Silicon Valley giant.Block the biggest tech companies From the purchase of rivalsAnother way to easily split them is still under consideration.
There is a potential compromise in spending on infrastructure. President Biden today $ 600 billion package For investments in areas such as roads and broadband, mediated by White House officials and bipartisan parliamentary groups last night. This basically serves as the first step in the president’s $ 4 trillion infrastructure ambitions.
John McAfee died in a Spanish prison. A 75-year-old pioneer of antivirus software died after a Spanish court said him May be handed over To the United States for tax evasion costs. After severing his relationship with McAfee’s company in 1994, he lived a controversial world of drug trafficking, drunk driving, illegal immigration to Guatemala … and running for president.
JPMorgan Chase is considering mandatory vaccinations for workers. Banks planning to return employees to the office next month The latest wall street giant Request Some inoculation According to the notes sent to the staff, of that workforce.
Buffett emphasizes tax-exempt philanthropy
Source link Buffett emphasizes tax-exempt philanthropy