I envision a world where donations from the billionaires are transparent and are actually put into good use.
I believe transparency is rather important in philanthropy, and it should be ensured by the whole society. Having a lower donation tax rate is still fine, but I hope the billionaires or organizations will share the process of their donation and true data about where the donation goes. There could be a third party or government group to assess the transparency or efficiency of the donation, and only those who pass a certain standard could receive a lower tax rate. I hope in this way, the billionaires can aim for the ‘real’ donations under public supervision. Of course it still might be difficult for this to happen, since we still need to make sure the billionaires don’t use their power again to skip these regulations or assessment, but we have to take some actions to the donation system.
Thank you for sharing! I think that making the outcomes of these large donations more transparent will incline the rich to change their ways. It will expose the philanthropy issue to those who do not know about it, which can also lead to change.
I believe that taxing works in theory but in practice, there are many loopholes. What do you think would be a good workaround for this?
I agree with transparent donations! It would be nice to know where those large amounts of money actually go.
Great post! I wholly agree. Have you seen our blog on transparency of donations? https://www.cosphere.net/single-post/money-and-politics-part-2 (You might also be interested in part 1 of the series)
Great post! I think you raise a lot of great points and I agree that donations should be monitored so that they can be used to their intended purpose.
People deserve a say in what issues they want dealt with, billionaires should be forced to respect this and present publicly where they are donating.