Billionaire charitable donors receive substantial tax breaks to establish private foundations, which have accumulated over $2 trillion in assets—projected to reach $18 trillion by 2050, more than twice the size of the US federal budget—yet this massive wealth is not effectively reaching communities in need, raising questions about the effectiveness of the current charitable giving system.
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Billionaire donor tax breaks are hurting AmericansAdded:
Billionaire charitable donors get substantial tax breaks to set up private foundations and [music] other funds.
Today, there's over $2 trillion piled up growing to $18 trillion by 2050. That's more than two times the size of the US federal budget. Why is it piling up? Why is it not getting out to communities? We created this system of big giving and we can change it. I hope you'll join me on this journey to make big giving work for our communities.
Order your copy of Control: Why Big Giving Falls Short Today.
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