Robert smith paying off $34 million in student loans was a useless gesture- Jason Black

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Jekyll

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Amused Mastery said:
A couple of questions:
  • You'd rather a billionaire dump the money into taxes instead of taking actions that make a direct impact like paying off student loans?
  • Wouldn't a black billionaire passing down wealth into his black family be a good thing?
  • How exactly do we know the amount of money that guys like Rob Smith are using for charitable causes? Him not broadcasting it doesn't mean that he's not doing it.
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1. Him paying his fair share of taxes and helping to eliminate student loans period would be better than him hand selecting a few groups of people to pay for. If we play the game of billionaires picking and choosing who they want to help then guess who still gets the short end of the stick? That's Reaganomics for ya.

2. It depends. Personally I'd eliminate all wealth in favor of an equal economic society. That's a pipe dream though and would require us to put trust in the government which I don't. I still do think most if not all wealth should be redistributed though. If we are gonna allow mega rich people to exist then we should at least make sure its not locked into the same families, doesn't matter if they black white or whatever.

3. We don't but that's besides the point. Its not just about him. I would bet that most black wealthy people are alot more generous in giving, whether its to friends, family or charity. Hell so many black millionaires have went broke because of it. But I do know that the billionaire class alone as a whole has enough to end alot of world poverty issues 20x - 30x over and choose not to.
 
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Harry B

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Jekyll said:
Its the same net effect on his pockets.

Im not saying he didn't do enough. I'm saying he did the least effective thing and that's most likely because he and the rest of the top tax brackets don't want to do enough. I keep mentioning that I don't know the brother for a reason. He's wealthy so I can take a good guess at his economic policy but I could say that alot about alot of people who've I've been wrong about.


But my point is more to the point that Bill Gates was making. He gives billions to charity and pays billions in taxes and yet he can still recognize that the tax rates aren't high enough on the wealthy and that the current system is locking the poor into their status.


You can say what you want about Bill Gates but this nikka is giving like 95% of his wealth back to be redistributed when he dies instead of keeping it tied into his family for generations. Almost none of these billionaires be they black brown or whatever are ready to do that.
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You can't deduct donations to people and you isn't the charitable deduction capped at far below that? :leostare:

And even if it wasn't capped, at 20 % seeing how most of his income probably is from carried interest. If he gives 10 million, it's not like he makes 10 million in tax gains. It means that he doesn't have to pay taxes on 10 million, I.e. he loses the 10 million he gave away - tax rate*10 million. With a tax rate of 20%, he "loses" a total of 8 million bucks.

Now if we're talking about different brackets and that type of finessing it might be relevant. But when you are up in the millions you're playing a completely different game.
 
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Guile

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Who is to say he isn't doing both? This brother makes conscious folks look bad.
 
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Lesfilles

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Why doesn't he care more about the fact that HBCUs are terrible at fostering alumni networks? He can't get the entire graduating class jobs. Not going into the 'real world' with debt is an amazing leg-up.
 
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At30wecashout

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Internet pro blacks have been the worst mawfukkas for ages. A whole lot of preaching and bytching and hating(yes hating).

I dont need "knowledge dropped" on me anymore. Stop whining and put people on to something, or at least shut the fukk up when someone else does. These woke ass cornballs are useless, even more annoying than the glut that post on these forums and made the coli a slog to read years ago. If a black person is happy, they are pissed about it.
 
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