~~datahazard~~
@fentasyl · Sep 1, 2024
Until nonprofits are abolished, any other changes to the tax code are meaningless.
Since 1990, the wealthy have funneled nearly $10 Trillion into "non profit" tax shelters.
It's hard to take academics seriously when they ignore this fact while pushing meme policy proposals.
Jason Furman@jasonfurman· Aug 31, 2024I like the Biden-Harris proposal to tax unrealized capital gains.
For any given level of capital taxation it's more efficient & fair to tax unrealized gains, reduces lock in & tax planning.
The proposal does a thoughtful job of addressing tricky implementation issues.
Elon Musk
@elonmusk
They are not tax shelters in that the money can’t be used by them personally, but it is leading to a vast amount of “activist zombie money” with self-perpetuating non-profits driving de facto misanthropic goals for humanity.
I’m in favor of deleting this from the tax code.
03:12 AM · September 1, 2024 · 46.2K views
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