I notice a great deal of self-made multi-millionaires and multi-billionaires have established "non-profit chairitable organizations" that for an example, donate food to poor people on thanksgiving, provide help to prisioners, help pay the tuition of bright students that are poor, etc.....What tax-benefit does the multi-millionaire have in setting up one of these? Do they do it for the "giving" , or is there something (which I suspect is so) that actually causes them to preserve their wealth by paying less in taxes than if they didn't have the non-profit organization to begin with? It shall be interesting to see what you have to say about this.
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