Hans Kwint writes “The LA Times wrote a great article about the Bill and Melinda Gates foundation. Since it is eight pages long, a short summary:
Though most people think the Bill and Melinda Gates is a charitable foundation, this can be doubted. The foundation invests in a lot of companies, and makes as much profits as it gives away. Because it gives away 5% of its money every year, it therefore is a charitable foundation, and therefore they don’t have to pay most taxes.”
Though most people think the Bill and Melinda Gates is a charitable foundation, this can be doubted. The foundation invests in a lot of companies, and makes as much profits as it gives away. Because it gives away 5% of its money every year, it therefore is a charitable foundation, and therefore they don’t have to pay most taxes.”
Link: LXer.com
