Thursday, May 04, 2006

On Philantrophy

The economist magazine ran an article on philantrophy on their March 2006 issue. It featured top 10 donors the world has never seen. People like Bill Gates and George Soros, among others, are listed.

However, if you examine closely, their perspective borders on the absurd to the hilarious. The article espouses the generosity of these people and heralds their charitable intentions sans the strings attached.

What the magazine failed to discuss is that somehow, these supermegaultrarich magnates are in fact avoiding being taxed by the government. Instead of giving away their monies to the government, they'ed rather set-up foundations one after the other. In the end, circumvention of the law under the auspices of generosity.

Cheap ploy and very misleading to the uninitiated!

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