Billionaire’s charitable initiatives are either scrutinized or accoladed by the media and society equally. People joke around that taxes and death are the only two certainties in life, and evading either is a failed attempt. But postponing taxes through strategic planning and manipulation of tax loopholes to skirt taxes in a sneaky yet legal manner is something that’s currently occurring. Mostly, people who benefit from these tax loopholes, follow the tax law to the letter but not the principle of the law. With the government cracking down on the rich and famous, the tax monopoly is hinging on a rickety foundation.
The infographic will take you through the major tax planning moves and milestones of the eminent 1%, who control our economy and growth. On one hand initiatives like The Giving Pledge by billionaires attain a lot of conflicted responses, and on the other han, charity is considered as a major part of corporate responsibility today.
While this dichotomy persists, we attempt to shed light on tax inaccuracies and dodging strategies that are in play in our nation.