StrikerThe rich pressuring the poor to donate money
Licensed_to_illThose donations you make can help them deduct from taxes, right?
I think that's a myth as it isn't income it goes into a separate fund to transfer 1:1.
Even if it is revenue, it is still a net loss. All it does is reduce taxable income, which is still makes the donation a net loss.
For anyone not aware, the current federal US corporate income tax rate is 21%. So if a company gives 100 dollars to charity, they only save 21 dollars in taxes, so they are still down roughly 79 dollars, depending on the state taxes of where they are incorporated.
Thats really jewish anyway to call a deducatable a donation.
fucking antisemite
Here me out before accusing me of being a billionaire toady.
Not really, at least not in the US. Charitable contributions are a deduction from income, not a credit, so it is still a net financial loss to donate.
Where the benefit comes is the PR and power over the organization they donate to and its sphere of influence.