Taxes For Everyone Or Not?

Last week, many discussed the generous gesture of Yvon Chouinard, founder of the family company Patagonia. He transferred 98% of the shares to the non-profit organization, Holdfast Fund. He will use all the money received in the form of dividends to protect the environment. It is worth saying that Yvon has long been known as an environmentalist and in his company, the environmental agenda was at the heart of the marketing strategy. This agenda was dearly loved by all the greens. And not only by them. Everyone in the Valley knows about Patagonia vests. 

What Happened? 

So it turned out to be a very beautiful story about how an uncle, a climber, founded an outstanding company 50 years ago and became a billionaire. Being old, he decided to donate everything he had acquired in the name of mother nature. But Bloomberg ruined everything with his headline “Patagonia billionaire who gave up company skirts $700 million tax hit.” The fact is that Yvon transferred 2% of voting shares to a special trust. This allowed him to maintain control within the family while avoiding taxation. He will definitely gamble at 22Bet login, won’t he? 

Again, the non-profit sector in America is a trillion-dollar industry. That is comparable to retail in terms of its contribution to GDP. And charity is primarily a legal method of tax evasion and a lobbying tool (a legal method of corruption). Therefore, stories with generous donations of billions of dollars are fairy tales for the poor. It should be understood that in the overwhelming majority of cases, the amount of donation is directly proportional to the degree of selfish interests of the donor.