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.
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.
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The super - richs' avoidance of tax is a common subject on here
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.
I'll never be rich Woods. I'm not dishonest enough and I'm too chicken to borrow money.I reckon nosey will be on The Times Rich List 2020
I'm all about sharing wealth.I hope he gives us less well off some of it when the time comes.
People could go to uni in Scotland, pretty sure no fees, or vastly reduced fees for EU citizens there.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.
I guess if you want a degree in crack and alcoholism...could be a good place to start?People could go to uni in Scotland, pretty sure no fees, or vastly reduced fees for EU citizens there.