CEO Calls Billionaire Philanthropy A ‘PR Scam.’
|Dan Price, founder and CEO of credit-card payment company Gravity Payments, says that billionaire philanthropists who donate lots of money in return for glowing reviews and good press is “one of capitalism’s biggest PR scams.” In Washington state, billionaires pay 3% of their income on taxes while the poor pay 18%, says Price. In response to a proposed wealth tax, Price adds that “the amount [billionaires] donate is a fraction of what they would pay if their tax rates were in line with the working class.”|
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Newsrooms Around The Country Are Turning To A Nonprofit Model
News organizations across the country are embracing a nonprofit model at an increasing rate, according to the Institute for Nonprofit News, a consortium of nonprofit journalism organizations. The organization had a record 28% in membership growth last year. While the IRS is reportedly hesitant to categorize news organizations as commercial entities, “we have to subsidize reporting if we want democracy to survive,” according to Elizabeth Green, the CEO and co-founder of the non-profit local news company Chalkbeat.Read more ➝
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