John Arnold – Why The Greatest Natural Gas Trader Walked Away To Pursue Philanthropy | #386
The Meb Faber Show - Better Investing
The Philosophy of Giving and Incentivizing People to Give
There's bipartisan legislation sponsored both in the Senate and the House now to try to update modernized tax rules associated with charitable giving. The problem is that private foundations, when they were created through Congress, there was debate about what should society get in return for giving a tax break. And so one of the things that came out of that was there's a minimum 5% distribution a year required for a private foundation. What many people don't realize is for donor advice funds, there's no minimum distribution a year. So you can have a donor advice when you can fund it today. If the tax break this year, you never have to give away that money.
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