Marginal rates of income tax mean nothing to the really rich since they are able to declare very low "income" on which to be taxed. They are quite happy with a symbolic gesture of saying "raise our tax rate' because they won't actually pay very much more anyway.
And yes, they employ lots of laywers and accountants who have a legal and moral duty to get the best deal for their client - unless that client tells them to do otherwise. In other words, you tell your tax accountant that I do not want you to minimize my tax liability and, hey presto, you pay more tax. Easy-peazy, lemon squeazy - but don't go blaming the lawyers for this one (they deserve enough blame for the other crap that goes on!).
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- and take a tax deduction for the donation
Says it all really.
Marginal rates of income tax mean nothing to the really rich since they are able to declare very low "income" on which to be taxed. They are quite happy with a symbolic gesture of saying "raise our tax rate' because they won't actually pay very much more anyway.
And yes, they employ lots of laywers and accountants who have a legal and moral duty to get the best deal for their client - unless that client tells them to do otherwise. In other words, you tell your tax accountant that I do not want you to minimize my tax liability and, hey presto, you pay more tax. Easy-peazy, lemon squeazy - but don't go blaming the lawyers for this one (they deserve enough blame for the other crap that goes on!).