• BackStabbath@lemm.ee
      link
      fedilink
      English
      arrow-up
      6
      ·
      1 year ago

      Is that because of a technical definition? I thought he does do a load of good for people. Regardless of whether he also profits from it. Isn’t that sort of a win-win? More reason to give back for him as well. But I don’t watch his videos and don’t know the fine details.

    • lakv@lemmy.world
      link
      fedilink
      English
      arrow-up
      3
      ·
      1 year ago

      maybe you could say that about his YT channel, but he also runs a food bank in his city, right? I don’t think he profits from that, so at least by that token he is a philantropist

        • lakv@lemmy.world
          link
          fedilink
          English
          arrow-up
          6
          ·
          1 year ago

          I’m not American, but tax write-offs aren’t free money afaik—you still end up with less money than you started with, had you not started the charity.

          But, aside from that, you could say that about any other philanthropist, as most of them don’t get their money from thin air, which means they could use their philanthropy for tax write-offs. If that makes them not philanthropists, then there are no true philanthropists, which makes the distinction between fake and true ones meaningless.

          • Flat Pluto Society@lemmy.world
            link
            fedilink
            English
            arrow-up
            1
            ·
            1 year ago

            tax write-offs aren’t free money afaik—you still end up with less money than you started with, had you not started the charity.

            Exactly. Giving to charity basically just offsets the amount of income you’re taxed on. To give a really simplified example, say I’m making $100,000 per year and I’m taxed at 25%, so I pay $25,000 in taxes. But if I give $10,000 to charity and write that off on my taxes, I would be taxed as if I made $90,000 in the year, so I’d pay $22,500 in taxes.

            Of course it gets really complicated when you own a business as well as your own tax-exempt charitable foundation and you distribute your money by donating to your own foundation…