Chapter 937 Do It if You Think It's Fake

"Maybe, you will spend a lot of time preparing various banquets in the future," Feng Yiping said during dinner.

"Like on TV, like some of our neighbors, why? Don't you always hate those things?"

"Schmidt said it, and I also asked accountants and lawyers, and they all said that under our current conditions, we should do some high-profile charity,"

"I don't, it's so fake," Huang Jingping shook her head, "Look at the themes of some of their charity projects, from elephants in Africa, to sharks in the Pacific Ocean, to penguins in Antarctica... In short, there is nothing serious about it. If you spend so much effort and money, it’s better to build a few bridges in your hometown and buy more stationery for the school.”

Their origins determine that they are very down-to-earth, and they are really not interested in some charitable topics in the United States.

"I can't help but sing whatever song I want on the top of the mountain. The United States is doing this. If we don't do this, the people here will have a problem with us. Maybe in the past two days, the newspapers will see negative news about me."

"Why? We invest so much in the United States and create so many jobs,"

"Isn't this the national situation here? Besides, it seems that we will have to set up a foundation in the future. After setting up the foundation, you will find that there are actually quite a lot of benefits,"

This is why he came to such a conclusion in the afternoon that Bill Gates and the others are not really so noble that the earth cannot tolerate them.

They are declaring to the whole world that they have donated all their wealth for charity.

But please note that if they donate all their wealth to charity, it does not mean that this wealth will be given to others and will no longer belong to them.

Most of it is by putting his property into a charitable foundation, such as the well-known Gates and Melinda Foundation, so his wealth seems to have nothing to do with him in law, it belongs to the foundation of.

In fact, the property after the "naked donation" is still controlled and dominated by them, but the specific operation method is implemented through voting on the holding of the fund or company.

The American people and the mainstream media actually know this. Otherwise, how could Gates and Buffett, after naked donations, be in the top three of the world's richest man list every year?

The later classmate Xiao Zha was always more direct in this regard. He simply set up a limited liability company to manage the property he "donated".

Not to mention being straightforward, but to make it clear that I care about money very much, Xiao Zha’s classmate, the Bill Gates Melinda Foundation, is actually a "charity" for the purpose, but through "similar investment behavior" to maintain long-term Operated non-profit private foundation.

Here are a few keywords that need attention: charity, investment behavior, and private funds. Well-known foundations of this nature also include the well-known Rockefeller Foundation in the United States.

First of all, because of the name of charity, it is mandatory to donate at least 5% of the foundation's assets every year.

Secondly, this foundation with the banner of charity can be invested. For example, the Gates Foundation has invested in many oil companies, Coca-Cola, McDonald's, etc. In other words, this seems to be completely in line with the green, environmental protection, and health he advocates. is on the opposite side.

The most important attribute is the private fund. The money that they donate all over the world is still private in the final analysis.

Then why do these smart people have to set up such a fund with great effort, and those rich people in our country who don't seem to have their brains don't bother to do this?

After all, it is still for the sake of preserving one's own wealth.

When it comes to preserving their property, the rich in the United States have two major difficulties to overcome. One is the capital gains tax and the other is the inheritance tax.

The so-called capital gains tax refers to the income obtained from the possession of capital, such as income from selling houses and buying stocks.

The capital gains tax in the United States is no different from personal tax in the short term.

As I said before, the tax laws in the United States are too complicated. If I can figure this out, I can open an accounting firm to practice.

In California, where Feng Yiping is located, to put it simply, as long as your annual income exceeds 400,000 US dollars, federal tax plus state tax, roughly speaking, half of your income must be handed over to the state.

That is, the short-term capital gains tax is also close to half.

This is really more ruthless than "handing over the bull's head to the state" which was hotly discussed by domestic netizens later.

Long-term capital income is generally half of the short-term, that is, at least more than 20%.

However, U.S. taxes are also constantly being adjusted. Since Bush Jr. came to power, after several rounds of tax cuts, the capital gains tax on long-term investment this year is around 15%, and the short-term profit tax has also dropped significantly.

As for private charitable foundations like theirs? Although according to U.S. law, they do not fully enjoy the tax-free benefits of public charitable funds, they still have to pay taxes on their investment returns. How much is it? At least 2% tax is payable.

2%, which is much lower than the U.S. capital gains tax.

As for the inheritance tax, it is also a tax that the wealthy class in the United States hates.

For a long time, the threshold of inheritance tax in the United States was very low, for example, from 40,000 to 60,000 US dollars, but the tax rate was once as high as 77%!

This should be the American version of Can't afford to die.

Of course, since the late 1970s, the threshold of inheritance tax in the United States has been increasing and the tax rate has been falling. Since Bush Jr. came to power, the threshold has been raised to more than 1 million US dollars, and the tax rate is 50%.

Establishing a charitable foundation with a private nature also circumvents such problems.

Therefore, these guys in the United States donate naked, and it does not rule out that when money is really just a number to them (not that they don’t care), they really want to use some money to do some good deeds, but at the same time, the incidental result is tax avoidance.

As for which one is the main one and which one is the second one, this question does not seem to be important.

Of course, the U.S. government is not stupid. They are well aware of the purpose of the rich to do this, but they advocate it, because only in this way, those rich will cash out - if they don’t cash out, there will be no tax to collect, and after cashing out, they will Investing, and investing, brings in taxes….

Feng Yiping also understood why their proposal did not receive response in the country, because the wealthy people in the country did not need to worry about this matter at all.

Our capital gains tax is only symbolic, and it is not even as high as personal tax.

I only heard that someone speculated in stocks and real estate and became a billionaire, but I never heard of anyone who speculated in stocks or real estate and paid more than 100 million yuan in taxes.

Those who earn tens of millions from a house, those who have earned more than 100 million in the stock market, pay no more taxes than white-collar workers who are miserable.

Similarly, is there an inheritance tax in China? If the domestic inheritance tax is as high as 50%, then there will definitely be more rich people doing charity in China than in the United States.

So, to a certain extent, these rich people in the United States are also suffering, and they really have to worry more than the rich people in China.

So later the newspapers said that some people regretted immigrating to the United States after all their efforts—this seems to be true.

Moreover, some laws on charity in the United States guide these rich people to invest in "charitable" fields such as life science research, medical disease research, and environmental protection research that require a lot of investment.

This also caters to the wishes of the rich. It is understandable that the emperors in ancient my country sought longevity, and the rich now seek longevity.

It's just because of the effective guidance of the government and cultural genes, the rich in the United States are willing to invest huge sums of money in the field of medical care, how to live a long life, how to prevent infectious diseases, how to conquer cancer...

Once there is a breakthrough in these fields, the rewards will be huge.

It should be said that under the banner of charity, these rich people have indeed researched a lot of cutting-edge technologies, which has further promoted the development of high-tech in the United States.

And the rich in our country also want to live a long and healthy life and continue their good days. However, their direction is different. They look for it in the pile of old papers and traditional culture. Experts come out, "Taoist" and "Master" and so on, each leading the way for a year or two, or three to five years.

Therefore, I have to say that the US government is indeed ahead of us in some respects.

Therefore, I have to say that the happiness index of the rich in our country is really much higher than that of the rich in the United States.

"So many twists and turns? That's better in China," Huang Jingping felt a little dizzy.

"You are an American now, so you have to get used to this kind of thing, even if it feels fake, you have to do it."

"Yeah, I'm an American now," Huang Jingping was a little annoyed, "However, if these things are difficult, just do it,"

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