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The Sports Desk / Re: Formula 1
Last post by shawny -People are going to lose the money one way or another.
IF its via tax, the government gets it and nobody cares.
IF its via donation, they look like good guys and get more opportunities to make more money.
So why would you not choose to donate it?
Incorrect. Its not equal and not equally lost either way.
If LM earned 500M tax for arguments sake at lets say 50 cents in the dollar he is left with 250M (to spend on watches and Kim K)
If he donated lets say 100M as the donation would be fully tax deductible he now pays tax on 400M again for arguments sake at 50 cents in the dollar he is now left with $200M
So LM making the $100M donation left him with 50M less in his hand then if he didnt donate and paid hes tax.
ballpark if you are in the highest tax bracket for every $1 you donate your net loss is 50c for every dollar.
Im not a fan of LH but any donation of that sort of money is still very noble.