Then, Boss Jia told Zhu Qiushui about the inheritance tax in the United States.
It was said that the United States was a paradise for the rich, but in fact, there was something that made the rich very dissatisfied. That was the inheritance tax.
The inheritance tax in the United States was notoriously huge.
The threshold was ten thousand dollars. Any inheritance above ten thousand dollars would be taxed, and the tax rate was as high as 18%.
After that, as the number of inheritances increased, the tax rate would be 50% for inheritances exceeding two and a half million dollars.
In other words, if Bill Gates really left his two hundred billion dollars worth of shares to his son, then Bill Gates' son would have to pay up to one hundred billion dollars in taxes!
Some people might think that this was fine, after all, there was still one hundred billion dollars worth of inheritance.
But the problem was that there was another rule for inheritance in the United States, that was, the tax must be paid before the inheritance … The tax must be in cash, not fixed assets or financial assets.
Take Bill Gates for example. If his son wanted to inherit the two hundred billion dollars, then he had to pay one hundred billion dollars in cash to the tax authorities of the United States before the inheritance. Only by paying the cash could he inherit normally.
But the problem was that before the money was paid, the two hundred billion dollars worth of shares could not be transferred to Bill Gates' son. In other words, Bill Gates' son could not rely on selling the two hundred billion dollars worth of shares to pay the tax, but had to rely on his own ability to get the one hundred billion dollars.
This was simply too much.
But here, the business talent of the United States must be praised. Later, many business organizations launched inheritance financial services. If you did not have the money to pay the inheritance tax, then the business organization could pay this huge amount of tax on your behalf.
After the inheritance was received, the business organization would receive 10% -20% of the amount as a return. Look, isn't this very perfect?
After Bill Gates's two hundred billion dollars went around in circles, now that it was in the hands of his own son, there was only ninety billion dollars left. No one could withstand this!
Anyway, the rich in the United States were disgusted by this inheritance law, but this law was supported by all United States citizens. After all, most United States citizens did not need to pay inheritance tax because they did not have ten thousand dollars worth of inheritance to their descendants.
Logically speaking, most United States citizens left their children much more debt than inheritance.
They wanted the assets of the rich to be taxed, so the rich could not change this law at all. Whoever dared to change it would not be able to get any votes.
Of course, the United States was a country full of wisdom. Since they could not go straight, they could go in a roundabout way to save the country.
Not to mention, this was really possible.
So the charity fund became the goal of the rich.
The legal management of the charity fund was actually well-intentioned at the beginning. In order to attract more rich people to donate, and also to let the charity fund generate more money to help the poor, the United States gave the charity fund considerable freedom and management authority, as well as tax concessions.
All kinds of formal funds or fund management were targeted by the tax bureau. After the regulations were set, the charity fund escaped a disaster. The inheritance of the charity fund's shares did not require any tax. The heir could directly inherit the entire charity fund without paying any price, not even a cent of tax.
So, this naturally became the best white glove for the rich. And when the first batch of rich people experienced this, they found that the way of inheritance of the charity fund was even more perfect than the traditional inheritance method.
First of all, they could completely avoid the inheritance tax.
Second, the operation and management of the charity fund could obtain more business and financial tax concessions.
Finally, because of the charity fund's title, it was particularly popular among ordinary people. Not only would it not be criticized by any public opinion. And once the rich openly announced that they would donate all their funds to the charity fund, they could also become the object of praise from people all over the world. It was simply wonderful to the extreme. There was almost no flaw to be found.
At that time, at most, they would hypocritically take out some money to do activities, and then find a bunch of reporters to take photos and report. Naturally, they would gain both fame and fortune!
Later on, the tax department of the United States found out that there was something fishy going on. When they wanted to set the rules for the charity fund, they found out that the tycoons of the United States were no longer the tycoons of the United States in 1920.
In 1920, the rich people of the United States were still a little afraid of the power of the United States. But after 1950, with Roosevelt's various policies, although they saved the United States, they also allowed the United States to be controlled by several large financial groups. These people took advantage of the two-party system in the United States to have a very terrifying political power.
Any politician who dared to change the inheritance policy would face all kinds of threats and resistance. Even the great commanders of the United States were no exception.
For example, the famous Great Commander Kendrick. When he was just about to change the inheritance law, he directly said GG. After that, none of the great commanders of the United States dared to touch this taboo.
Therefore, Bill Gates seemed to have donated all his assets and become a saint. In fact, if one observed carefully, they would find that the media of the United States was not very shocked. Many of the media's praises were perfunctory and routine.
This was because the media of the United States knew the trick.
Only the media of other countries, especially the media of Hua Xia, were naive and naive. They thought that Bill Gates was really a saint. It was simply ridiculous.
Some people might refute Boss Jia. Even if this trick really existed, it could not be denied that Bill Gates was not a saint. What if he really was?
The answer to this point could be found in the report of Bill Gates's Charity Foundation.
According to the financial report of Bill Gates's Charity Foundation in 2018, the foundation spent a total of 10 billion USD on various charities in 20 years. Then, Barbara listed a lot of charity projects.
Let's not talk about whether there were any tricks in these charity projects. 10 billion USD might seem like a huge amount, but at this time, Bill Gates's Charity Foundation already had a huge fund of more than 300 billion USD.
In addition to Bill Gates's own donations, the rich people of the United States also liked to donate to this foundation. After all, the people who managed the foundation were their own people.
For example, Soros had donated all his personal assets to the foundation.
But such a big foundation only spent 10 billion USD on charity in 20 years. This was too little … According to some data surveys, this foundation earned more than 50 billion USD in 20 years.
Finally, this 10 billion USD included the salary of all the staff of the foundation, including Bill Gates's son. They could all get a salary from the foundation!!
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