Here’s an interesting take from the CEO who raised his employees base annual pay to $70,000 a year.
The CEO known for increasing his employees’ base annual pay to $70,000 says wealthy people donating their money and getting rewarded with “glowing articles, a hospital named after you and a massive tax write-off” amount to “one of capitalism’s biggest PR scams.”
Dan Price, the CEO of the credit-card processing company Gravity Payments, slammed America’s elites on Twitter charging that the average billionaire donates a smaller share of their money to charity each year than the average non-billionaire.
. . .
“In reality, the amount they donate is a fraction of what they would pay if their tax rates were in line with the working class,” he said.
You can read the whole article at MarketWatch.com.
Here in El Paso, there is always an “invisible invoice” attached to their gifts. Give a medical school, get a stadium.
I suspect that this is very true. The real philanthropist is one who gives without notice, and does so willingly, without looking for a tax write off, or any other personal benefit. We wouldn’t see many of those, would we?