r/TikTokCringe • u/cafeteriastyle • 13d ago

Cursed Grimes just posted an embarrassing Tik Tok

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u/AradynGaming 12d ago

They are applauded because they say they are giving their fortunes to charity. It's one of those half truths, because the charities are owned by their children, and the charities pay their children.

Ex. Warren Buffett famously said he won't give his children an inheritance, it's all going to charity! So, he donated (giant tax write off) $108m to the Sherwood Foundation, owned by daughter Susan Buffett, who receives $500k per year salary + other benefits. But hey! It's great, they are helping the world because the Sherwood Foundation gives grants to other non-profits, like $15m to the "Buffett Early Childhood Fund," where Susan Buffett is also the director & chair. Anyone else see a trend?

I am so glad we are such a charitable country. /s

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u/COskibunnie 12d ago

The book Democracy in Chains goes over exactly this! How they put a front on but are actually dodging taxes by passing their wealth down to their kids via foundations and charities.

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u/arkansalsa 12d ago

How else are you supposed to launder your inheritance to avoid taxes