Billionaire Foundation - The Most Immoral Charity In The World
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- Опубліковано 25 чер 2024
- Billionaire philanthropy is not just charitable giving. It's an investment venture before anything else. Then it's about hoarding wealth, avoiding taxes and getting some positive PR for it.
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Private foundation is an institution with a very special status. They are tax exempt private organizations yet they are still allowed to invest into for profit companies. Foundations can hold corporate stocks and bonds and generate revenue this way.
There is only one major condition they have to fulfill to keep their tax exempt status - and that is to donate 5% of foundation's total assets on annual basis. So when you hear a billionaire donating their wealth to charity and it's going through a foundation, up to 95% of it can go into profitable investments. In practice, all foundations' assets in the US amount to more than $1 trillion. Yet, they donated only $90.88 billion in 2021.
Sources (references are available in the transcript)
[0a] nccs.urban.org/publication/no...
[0b] www.statista.com/statistics/2...
[1] www.propublica.org/article/th...
[2] www.nytimes.com/2021/06/08/us...
[3] www.irs.gov/charities-non-pro...
[4] www.irs.gov/charities-non-pro...
[5] www.nptrust.org/philanthropic...
[6] www.issuelab.org/resources/36...
[7] www.gatesfoundation.org/about...
[8] www.thenation.com/article/soc...
[9] www.latimes.com/archives/la-x...
[10] www.sec.gov/Archives/edgar/da...
[11] www.sec.gov/Archives/edgar/da...
[12a] www.latimes.com/archives/la-x...
[12b] archives.cjr.org/behind_the_n...
[13] jacobin.com/2015/11/philanthr...
[14] www.washingtonpost.com/local/...
[15] www.sec.gov/Archives/edgar/da...
[16] philanthropynewsdigest.org/ne...
[17] news.stanford.edu/2018/12/03/...
[18] www.washingtonpost.com/educat...
[19] www.washingtonpost.com/politi...
[20] www.chalkbeat.org/2018/6/21/2...
[21] www.currentaffairs.org/2021/0...
[22] yewtu.be/watch?v=ag5zQeXC-TY
[23] www.prweb.com/releases/2014/0...
[24] www.washingtonpost.com/news/a...
[25] www.washingtonpost.com/educat...
[26] • Full interview: Bill G...
[27] www.philanthropyroundtable.or...[28] www.charitywatch.org/nonprofi...
[29] www.nytimes.com/2013/07/27/op...
[30] www.latimes.com/archives/la-x...
[31] www.latimes.com/business/la-n...
[32] www.latimes.com/business/la-n...
[33] policy-practice.oxfam.org/res...
[34] www.oxfam.org/en/research/tim... → PDF report
[35] www.oxfam.org/en/research/sur... → PDF report
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The footage and images featured in the video were for critical analysis, commentary and parody, which are protected under the Fair Use laws of the United States Copyright act of 1976. - Наука та технологія
This one guy I worked with spoke about Bill Gates like he's a hero for donating money to himself. 😂
Bill Gates is a chronic grifter. Melinda did most of the work to sanitize his image. Then divorced when it was convenient and took half his shit 😂
😂😂😂
Oh and make sure to find that guy you mentioned and to point out what I just wrote.. even if we were to assume all his charitablity was truely charity it still wouldn't make up for everything he had done. He only got where he is on the back of hard working individuals (and IBM investors...)
I need his contact information. Because I've got to sell him a bridge.
I've seen that one guy in the comments section many times. Humans are too easy to hoodwink. As I've aged, it's become easier to see why Christ said can't serve both his Father and an arbitrary monetary system where everything's made up and the points don't matter.
Even charity makes billionaire money in some way.
A billionare donating to his own charity to avoid taxes.
I've talked to many people who applauded that guy for doing what he did.
None of them did anymore after I told them w he did. That move is purely disgusting.
This is the definition of tax evation. It's not a donation if the money donated still brings you profit and is under your complete control, that's an investment, and even investments are taxed to some extent.
@@enrique7934
No it's evasion!
They know dam well what they're doing. What's at issue is the IRS is in their pockets!
If the donated money/capital of the foundation generates a profit then how is it possible that the Bill & Melinda Gates Foundation can claim that they are a non-profit organization?
@@paulkleber6930 that just be what they want us to think!
@@asdfgoogle yeah I think so too. But why are they allowed to claim that if its not true? I am not familiar with the american law and I believe in my country this would be illegal.
@@paulkleber6930 that's what I'm saying. Where does the bill and Melinda gates foundation claim to be a non profit? That's just what we all believed, for some reason.
Who gives a shit? Nobody. That's how things got so bad in the first place. These billionaires have physical locations.
I love your content. This video was clearly shut down by the algorithm. Keep up the great work man.
Woahhh. Long time mate
You also get cheap vacations by having a board meeting somewhere ( insert vacation location ) and writing most things off as a business expense for things like flights, food eating out etc. Bam very discounted vacation for everyone at the top.
That part is accessible to almost anyone that has the know-how to set up a private charity. I wouldn't abuse my charity funds on a vacation, but traveling to see the board or conduct an event is helpful
Also, I donate anything I spend on operations to not commingle donated funds
@@NicholasHenkey What you personally would deem unacceptable is irrelevant, but what I'd like to know is if someone in your position, without your ethical mindset, could use their tax exempt private charity funds, to pay for a family vacation, if they wanted to? Is that possible?
Or more importantly, is it possible for a Musk or Bezos, to take a potential client or business partner on an expensive weekend trip, and file it as a charity expense, by calling it a charity event?
POSIWID
the Purpose Of a System IS What It DOES!
i donated lots of food to the rats of my local sewer system.
i am so happy that the poor rats didn't have to starve. their population has doubled since the last donation btw.
also, the little baby rats are so cute. i'm gonna donate twice as much as the last time
Not for avoiding taxes only, a lot of times also with nefarious goals against the majority of humanity
o'rly, like what?
This might be THE Hated One's channel, but it's my favorite
I knew there's something fishy about these foundations but never ever expected such evil
Awesome music, by the way. Totally love intro.
And obviously another great video!
this channel is gold worth and absolutely underadvertised, where are all the subscribers and comments??? this is the TRUTH in your face!!!!!! other people never come to such a truth in their life!!!
we do a little shadowbanning
I hate the reaction of people when I suggest we close those trusts and simply tax the rich. Use that money to fix the problems. One statement seems to hit these people..."Governments care more about the wealth of 50 people than the lives of billions of others".
We should definitely do this.
Bruh no matter how much you give the government, they won't fix anything
@@j.e.3276 And leaving it with billionaires fixes what exactly?
@@DanT10 if a system isn't working, the solution isn't to throw even more money into it, hoping it will eventually work
@@j.e.3276 Perhaps the system is broken because of the massive inequality. It is not putting money in but taking it out.
Suddenly i start to understand the french revolution
The clarity of your exposition is greatly appreciated, people need to know these things and we need to fight propaganda.
@The Hated One Glad you're back with, as always, awesome content! Thanks! Love your channel!
Foundations being evil, that reminds me of certain one.
We need you on Odysee
Todays gonna be a good day when The Hated One posts!
So good to see a video from you man, love your vids💯
this is great, your video has been recommended to me!
(This is a Great and Educational video that many people should see, and it definitely should get recommended to a lot of people)
“Down in Houston there are some neighborhoods so rich that every flea has his own dog. The Rockefellers are like that. Every one of them has his own foundation.” Patman
The reality of these foundations lay bare is just laughable in a depressing way. Great video.
Taxes are annoying so it's interesting to see the loopholes the billionaires use.
nice to see you back
Thank you for addressing this...
He's back
Fantastic video.
Thanks. You make some of the best videos on YT. I hope you stay small. When channels get big they get sponsorships and other pressures that kill their ability to tell the truth. Paid speech isn't free speech.
I could've gotten millions of sponsorship deals already. I rejected them all. I made $279 off of UA-cam ads in the last 28 days. This sucks. And nobody would go the same lengths to do this.
@@TheHatedOne Yes. Exactly. Paid speech isn't really speech at all. It's propaganda. If you're doing it for the money you've already lost your voice. It becomes your job and then this will change what you do because, about other reasons, it will change why you do it. You won't be able to help it. It happens all over UA-cam. The money does corrupt. It's unfortunate, but true.
You don't become a billionaire businessman if you are altruistic to the point of giving away your money.
UA-cam should boost this. Good vid.
Great report
you haven't even watched it
@@TheHatedOne Hey bro could you do a collaboration with GDF official, I feel like both of you would work well together.
@@TheHatedOnewhat happened to some of your videos?? UA-cam nuked them?
Hah!
@@TheHatedOne this video is an eye opener. I always wondered how super rich avoid tax.
Thanks man.
"On day one of my taking office, I will direct the IRS to seize all US based, billionaire owned, charitable foundation assests," is the person I would vote for.😮
If anyone says that they are either lying or a walking dead man
you’ll own nothing and be happy
@@d0loressk4ze28 we never owned anything when we were born but we sure learnt to pay our way to death
Will never happen, the Bilderberg Group members will promptly send the Mossad after whoever challenges their wealth and power and they will be properly Epsteined without question.
That would be a dictator. Just get rid of the tax incentives + loopholes.
Another great video
Billionaire being immoral? In other news water is wet.
Water cant feel the wet because it is the water itself like Light cant feel time, damn it must feel gud to be a billionaire
@@PhucNguyen-vf1ztou don’t feel the water you feel the pressure of the water on your skin.
Water is not wet. A better analogy is that clouds float in the sky.
Dudes... billionaires are the stars in this shitty universe and we are just the empty space.
@@PhucNguyen-vf1zt is “wetness” a microstate or macrostate?
if its a microstate, a water molecule can wet if it touches another water molecule. >1 = wet, 1!= wet
if its a macrostate, idk
Excellent video, very well explained. :)
Missed you man
Thank you!
Great Video
It's always sad how like no one talks about these things or even questions them yet everyone talks about how we need to tax the rich more. How can we tax them more when we just look the other way as they're allowed to legally avoid most taxes in the first place under the guise of charity? I mean it should have been a massive red flag when someone like Bill opened his own charity and "donated" billions into it instead of to already existing charities that would have directly helped more people quicker.
Billionaire foundations should not exist. Or if they have to exist (they don't), they shouldn't be allowed to make for-profit investments and donate to for-profits. Also, they shouldn't be tax exempt.
It's not just the ultra rich who do this. I know lf a moderately loaded guy that plays the same kind of scheme.
Funny, I accidentally ran into this instead of receiving a notification despite having the damn bell clicked on.
gonna give this a like before google buries this vid
Hi, just love your content. It would be nice if you could do an updates on previous privacy tutorial videos you have done as a lot of changes might have happen since. Thanks keep up the good work.
good video as always
I hope this video gets more attention
Great Video.
Your channel is Top notch 🎉
great content
How r u THO, i really enjoyed this video
Understandable, have a nice day.
Morality is just a spook.
I know a decent number of both conservatives and progressives who are not okay with billionaires donating enormous amounts of money to themselves tax-free.
There really are a lot of areas of political disagreement and division right now. But this is not one of them.
Like your video's bro
How much philanthropy would there be if donations gave no tax benefits AND were done anonymously only? In past times and organizations, this has been the case, either one or the other (no tax break or alternatively no tax break AND no name recognition). This video is entirely, 100% correct about most or all of the structural benefits accruing to the supposed non-profit organizations.
Here's another weird one: Ford Foundation mentioned 4:40 for their donation was ethically wrong AND furthermore, the Ford Family hasn't had any control or influence over the funds or behavior or donations made by the Ford Foundation! The Ford Foundation states that clearly on its website. So, who DOES manage the Ford Foundation, and why was it taken away from the Ford Family who funded it?!
Yes, Bill Gates and his ex-wife are like a private government in the United States who fund what they want, not what our elected representatives want the money to go to in each state of the U.S.
501(4)(c) foundations DO have to file an annual 990 Form of their assets, contributions, staff names and salaries for management. It is incredibly opaque and minimal information compared to what you or me with an earned income of $40,000 per year must tell the IRS in our annual returns. This goes on year after year and has gotten much more opaque and varied in the past 25 years. It isn't unique to people who are GOP or Democrat or Green Energy or Big Climate Change. It is ALL of them! The video talks about this at 13:21 and the video is correct! Sorry for the long comment. This is a good video.
We are missing your privacy related videos 😢
When you and I buy products and services that are publicly-traded, we are financially supporting this kind of corruption. Vote with your dollar, your time, your acceptance and/or attention.
sorry guys all we had was short clips worse than a seizure .
You should make a blog.
it would be cool to see someone start a foundation that blatantly shows how corrupt it is and their goal is to make their donators more money while showcasing how little they have to donate
The rich cost the poor too much.
Yet we keep funding them.
@@fdagpigj Not like we have much of a choice at this point.
Very important Video everyone should have seen. I think you are just about to make some new enemis with your last few videos.
I think you got shadow-banned. I can't see any other video from your channel in the recommendations.
Interesting, same thing with me.
Yes he is banned 😢
@The Hated One I think your notifications are being censored I didn't get notified for this video or the last one even though I'm set to be notified for every video.
I am getting these types of comments every upload.
I remember when Bill Gates started his so called "charity foundation" by saying "I will donate everything I got from Microsoft" now, he is even richer...
The government spending tax money is just as inefficient.
Interesting.
Ta.
Never change that intro music!
DAmn, UA-cam burried this guy!
WTF dude! why they close your odysee channell?????
I didn't even think it was possible, I thought it was a safe place at least that! 😢😭😭😭
It's always odd you hear all the big donations and how amazing foundations like the B&M are when agencies, organizations, and foundations from say the UN, Red Cross & Crescent Movement, Doctors without Borders, etc. are doing the actual work and truly need the funding. The World Food Program which million rely on is literally running out of money. Now of course these places do have their own problems yes, but they are also doing actual work for people especially in the Global South (but also the Global North too).
please do a video on tips to research like you do. so we can learn from you how to search for truth
I AM SUBSCRIBED I HAVE THE BELL ON (ONLY ON 5 OTHER ACCOUNTS) BUT I NEVER GOT A MESSAGE YOU UPLOADED. Just letting you know
Thanks. I am getting these messages a lot.
someone send me the theme song its epiccc!!!
14:29 Nice to feature Pop!_OS here
Thanks for eliminating this issue.
Excellent video. You've brought up all the important points on this subject. There's also a great video by UA-camr Second Thought, which talks about this same subject, and goes into more detail on how undemocratic this system is.
well shit!!!
NSDAP had a solution for this :)
It's been a while man...
Ok
Comment for engagement
well... if i was a billionaire i wouldnt trust anybody about my donation. might as well build one where i can say what to do with the money.
Hmmm... how do I set up a foundation?
Step 1. Have a billion dollars.
@Praise The Sun Damn... okay what's step two?
@@Trigger_Nash Step 2. Pay people to hide your money.
@@Praisethesunson Yes, good, now can we think of a way, which doesn't involve a billion dollars, that I can hide my money myself for free? I appreciate your input. You will be rewarded handsomely.
@@Trigger_Nash For free? Lol I'd say bury it but you'd have to buy a shovel.
do you pay more taxes than you really *have* to?
Hey, can you give me some info for privacy? You stopped doing your beautiful videos from privacy and anonymity and now i don't have sources. The old good days you always uploaded videos like that. Waiting for your response. Take care 🙏
What u think about Elon Musk remaining Twitter and naming it X ????
And do u Think he's really for conserving peoples privacy ?
The irony!
Is it easy to become a billionaire? I would like to become one, but I'm pretty lazy...
Good video. More tax to the governments wouldn't mean better public services though. But that's a different topic.
True. That is a different topic. One worth having a debate about on.
@@TheHatedOne Greetings from Europe and yes I accept the challenge to have that debate with any American 😉
As a billionaire, I can say this is real.
For the alg
Cool and normal...
The more I learn of how the rich basically built the system to keep themselves rich and powerful at the expense of everyone else, the more I'm cool with just confiscating everything over a certain amount and putting it back into common good projects.
$1000 / day for 90 years seems like a reasonable cutoff to me ($33 million...)
Billionare foundation? You don't mean the IRS?
"The super rich are known for being extremely efficient at avoiding as much taxes as humanly possible."
Just that statement alone has turned the point you're about to make on it's head, and now I see them as role models.
Good for you. You'll never be one of them.
@@TheHatedOne fact. I wouldn't want to be. But who doesn't hate the government feeling entitled to a cut of their money? It wasn't always like this. This country made huge progress before income taxes were introduced.
Honestly, I think we're just about on the same page, but looking from different perspectives.
Thanks for the content, and keep up the good work!
@@pinkmillk Spoken like a true American. You literally have no concept that a government is for and by the people. Since you have never experienced it.
@@pinkmillk I doubt that you are anywhere near the same page as him.
@@nextinstitute7824 maybe not. I think we agree that the system is bought off and doesn't promote our interests. We agree that ultra rich create BS "charities" to funnel money through to avoid taxes. We agree that these same people use their illegitimate power to direct our tax dollars and attempt to influence our minds, all in ways we never consented to. We agree that that's immoral and these people should be held accountable.
I just think the framing of the topic and the root of the issue is where we probably don't align.
The only solution is, as always, to eat the rich
This is certainly an issue, but why do you think a corrupt government is better able to allocate resources than corrupt billionaires? The problem is the top-down power either group can have on the lives of others they have little incentive for to actually 'do good'. (Nor is there a direct feedback mechanism, nor do either of those groups have the necessary 'computational power' to make the right decisions in real time.)
Wealth consolidation among billionaires is what's enabling government corruption at this level. Get rid of billionaires and you'll only have to deal with low-level corruption - which can be dealt with locally.