Remember when Jeff Bezos was showered with praise for donating $100 million to food banks last year?
That may seem like a lot, and it is. But once you consider all that Bezos has raked in during the pandemic – including making $13 billion in a single day in 2020 – it’s a few hours of his earnings.
It’s not just Bezos. Billionaires like Bill Gates and Warren Buffet also receive lots of praise for their “generous” charitable giving.
The truth about billionaire philanthropy is it isn’t charity. Its public relations, often used to cover up their exploitative business practices, shield their wealth, and deflect attention from all they money they pour into lobbying and campaign contributions to assure that their taxes remain historically low.
These so-called “charitable contributions” are also tax-deductible, meaning you and I are subsidizing them. I don’t know about you, but I believe taxpayers should be deciding where their tax dollars ultimately go.
America doesn’t need their charity. We need them to pay their fair share in taxes.