Dec 7, 2015
The media gushed all over Mark Zuckerberg, the founder of Facebook, for promising to give away 99 percent of his wealth. But that’s not what happened.
Zuckerberg created a “Limited Liability Corporation” that he controls. And these corporations can invest in regular, for-profit companies. So all Zuckerberg did was shift wealth from one pocket to another.
On top of that, Zuckerberg can use this new corporation to avoid taxes. So after amassing one of the biggest fortunes in the history of the world, 45 BILLION dollars, he will probably wind up paying almost NO taxes on it.
Worst of all, Zuckeberg, like Bill Gates, George Soros, the Koch brothers, and other billionaires who donate a lot to “charity,” will use his wealth to control society. The Gates Foundation is one of the biggest backers of school “reform” – the word they use for all the attacks we’ve seen on the public schools in recent years. Soros and the Koch brothers donate enormous sums to politicians. Other charities like the Ford Foundation use their money to influence politics in the direction THEY want, all over the world.
“Charity” from billionaires like Zuckerberg is no solution to the problems we face. Instead, workers will have to take that wealth back, control it ourselves, and use it to meet our needs.