Pity all billionaires are not like him. I bet those students are delirious. Nice when wealthy philanthropists give it back. Gates is on a crusade also.
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American donations can be amazingly tax-efficient for the donor.
In some cases they cost the donor nothing.
This is if concern when a multi-billionaire funds (for example) the equivalent of Eton, or the Church of Greed, or the Royal Opera House, with a billion, getting his statue in the quad, but paying a billion less tax, which reduces public spending by the same amount, resulting in (for example) publicly-funded schools tightening their belts.
I have no knowledge of this particular donor, but the topic is attracting muted attention.
Student debt is a pernicious drag, especially discouraging the education of youngsters from less wealthy families, and keeping the poor in their place. In many countries, such as the one Theresa May and Buffoon Johnson grew up in, graduates are not charged tuition fees, and there may even be subsistence grants.
In some cases they cost the donor nothing.
This is if concern when a multi-billionaire funds (for example) the equivalent of Eton, or the Church of Greed, or the Royal Opera House, with a billion, getting his statue in the quad, but paying a billion less tax, which reduces public spending by the same amount, resulting in (for example) publicly-funded schools tightening their belts.
I have no knowledge of this particular donor, but the topic is attracting muted attention.
Student debt is a pernicious drag, especially discouraging the education of youngsters from less wealthy families, and keeping the poor in their place. In many countries, such as the one Theresa May and Buffoon Johnson grew up in, graduates are not charged tuition fees, and there may even be subsistence grants.
Wow, thats a graduation ceremony to remember 
Over here Julian Richer has shown the way to be a good employer.
£1000 for every year of service!
I used to visit his first shop at London bridge walk, aisles really narrow and hifi stacked floor to ceiling.
Margins were so tight they would refuse credit card on sales of blank tapes.
I like Richer sounds -shops are small, but the staff are generally pretty knowledgable and helpful. So different to Currys / PC World
Over here Julian Richer has shown the way to be a good employer.
£1000 for every year of service!
I used to visit his first shop at London bridge walk, aisles really narrow and hifi stacked floor to ceiling.
Margins were so tight they would refuse credit card on sales of blank tapes.
I like Richer sounds -shops are small, but the staff are generally pretty knowledgable and helpful. So different to Currys / PC World
The super - richs' avoidance of tax is a common subject on here.
This particular donor may well have been able to avoid paying tax on the donated amount anyway, by clever accounting.
Now that this money is distributed among the "plebs", I expect full tax will be paid on it, by them.
Net result, tax is paid anyway.
Not defending the donor, nor claiming to have the answer, but offering a different view.
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What Tax will the plebs pay on student loans being wiped off?
I assume what John is saying is that certain donations or loans to art galleries are tax deductible so if this guy wipes off $30m of debt which is owed to the instiution that means those students will have higher disposable income. They will not be spending that on debt repayments so the only extra tax will be consumption tax depending on their MPC. In the US sales tax varies but is about 9% in Atlanta. So if they spent every penny of the money they were going to spend in repaying debt the sales tax on that would be 9% on taxable supplies which is less than the marginal rate of income tax or capital gains tax this billionaire would pay.
However the larger issus is should billionaires who through the tax system avoid paying tax then use their money for philanthropic purposes are the best spenders of that money or would it be better they pay the tax on their income and let the Government decide where to spend the money?
And what of Gift Aid?
I'll never be rich Woods. I'm not dishonest enough and I'm too chicken to borrow money.
I'm all about sharing wealth.
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People could go to uni in Scotland, pretty sure no fees, or vastly reduced fees for EU citizens there.
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I guess if you want a degree in crack and alcoholism...could be a good place to start?
You can't help yourself, can you.
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