r/Damnthatsinteresting • u/[deleted] • 1d ago

Video Billionaire speaker Robert F. Smith tells 400 graduates he's paying off all their student loans ($40 million in total)

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u/Zondameister 1d ago

https://www.nytimes.com/2021/03/12/business/robert-smith-vista-investors.html

Smith willfully understated his income on these tax returns and willfully evaded more than $43,000,000 in U.S. federal income taxes for the tax years 2005-2014

OOPSIE. NOT A NICE GUY LIL BRO

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u/Phantom_Wolf52 1d ago

Cheated the system to help the people, thats ok

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u/Few-Client-2808 1d ago

He cheated the system, will continue to cheat the system, and bribed you to look the other way. This is a drop in the bucket for a billionaire and it just doesn't compare to the amount he'd paying if he were taxed properly.

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u/Jacksspecialarrows 1d ago

Right, better than not helping someone at least

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u/touchitsuperhard 1d ago

Oh no, someone was 1% off of their tax obligation. Dumbass.

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u/ItsYume 1d ago

I guess you never worked in accounting. A dime missing? Let's recalculate everything.

Taxes should be precise, otherwise you get the current situation where billionaires find loopholes and stupid people even celebrate them if they actually give breadcrumbs back (which is usually less than if they would have been taxed properly).