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YoYoMoMa t1_iua823k wrote

This is awesome. One of the few companies that is actually good. Owner legit surrendered billions to make the company into an environmental charity.

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buttpincher t1_iuaagma wrote

No, it's just another billionaire scam/grift to get out of paying taxes

https://youtu.be/0Cu6EbELZ6I

Edit:

> Owner legit surrendered billions to make the company into an environmental charity.

Lol. You are hilariously dense. There is no such thing as a "benevolent billionaire". His family still 100% controls the company, now just thru a 501c4 "charity" that he conveniently just setup.

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YoYoMoMa t1_iuadzwc wrote

Source: a YouTube video

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todareistobmore t1_iuakera wrote

He's not wrong, but maybe a more balanced way to put it is that the Patagonia guy's doing the same thing RW billionaires do to... :gestures at everything:, and on basic level there's a real value difference there.

Every billionaire is a policy failure, but some billionaires are less bad than others.

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buttpincher t1_iuausig wrote

The smug remark of “Source: A YouTube video” really pissed me off. As if you can’t find MIT lectures on YouTube or deep dives into many subject matters by experts

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todareistobmore t1_iub1t9v wrote

Well, even though Adam Conover's generally good, the video's 20 minutes long! It would take significantly less time to find a decent link, send somebody that link, and have them read it.

Otherwise, while the glow up is bigly cringe, if you want to drag Pa Tagonia (...Pat Agonia?), I think Barre Seid (tbf I had to google this) really should be mentioned too. The difference between complicity and abuse matters even when it comes to billionaires.

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buttpincher t1_iub2av8 wrote

I get what you're saying but he covers Patagonia right away in the video it's not like you'd have to scroll to find a mention.

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todareistobmore t1_iubpwg8 wrote

But it would still involve clicking play on a video with a runtime of 20 minutes and ...hard pass, personally speaking.

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buttpincher t1_iubv3lq wrote

Understandable attention spans are in seconds these days

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todareistobmore t1_iubznve wrote

I have no idea what the point of that dig is, but be honest: does it work for you offline?

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buttpincher t1_iuc13dy wrote

There is no dig...? Its true people's attention span is short no thanks to TikTok and the like. Im agreeing with you

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BlarghMachine t1_iubykwi wrote

That’s literally what they do though. All charity is a tax write off. Amazon charities are also a joke, especially ones done through Amazon, as well as Bezos’ donations etc. But keep rounding up at rite aid so they can write it off their taxes and not have it manifest in any tangible way toward a charitable act proportionate to what they make on it. It’s about feeling better after all.

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[deleted] t1_iuafxqh wrote

[removed]

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ocaesar t1_iubri0l wrote

/r/iamverysmart

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buttpincher t1_iubstlh wrote

/r/cringetopiarm

Stop trying to suck billionaire dick

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ocaesar t1_iubznxc wrote

Just say you don’t understand capital gains bro, she’s not gonna take you back

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buttpincher t1_iuc0yyc wrote

Just say you don't understand shell companies and 501c4 charities bro, I pay capital gains tax. Spoken like a true tax dodging billionaire apologist. Keep eating that propaganda cock moron.

This dude's not gonna pay your rent or fondle your asshole so you can stop defending him

Edit:

Jesus Christ you're a stupid fuck 😂😂 You obviously didn't read the articles that I and a couple of other people posted. Reading is hard though I understand that's why I initially put up a video. You just know the buzz word "capital gains" so you throw it around thinking it makes you look like you know what you're talking about. Pathetic

> The Times reports that, in transferring that stock to the trust, the Chouinards are on the hook for $17.5 million in gift taxes. However, they're not going to pay any taxes on the value that stock has accrued since they first acquired it — what's called capital gains taxes. Bloomberg estimates that the capital gains tax on the donation could have come in at more than $700 million.

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jesus_chen t1_iub4mvt wrote

Spot on. Patagonia’s PR team works miracles in selling this farce.

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buttpincher t1_iubtmsm wrote

People in /r/Baltimore so badly don't want this to be true lmao. Look at all the down votes... It makes no sense. Like this dude pays their rent or something. It really does put into perspective how well this propaganda works and how easily the general population is fooled. We are literally surrounded by idiots, thankfully I don't live in the shit hole that is Baltimore

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DfcukinLite t1_iubxjjb wrote

So why are you here in this sub?

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buttpincher t1_iuby3y8 wrote

I was redirected here by /r/NYC and saw this post and the comment praising the Patagonia CEO lol. Fuckin morons suckin that dude off

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grand_larsonie t1_iud8itl wrote

It's always important to remind people, Billionaires are not good people. I also noticed the down votes, there's like 5 bootlickers in this thread, or billionaires idk.

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