You're rich, now what?

[Sheriff Gonna Getcha]

Originally Posted by John Hasbrouck

The rich give to charity and get it back when taxes are filed. So it is a tax shelter for them.

In point of fact, that's not entirely true. Tax deductions for contributions aren't even close to 100%; they only get back (by virtue of the tax deducation) a portion of the money they give.

Plus, not to be incredibly obonoxious, but a tax shelter is a place where you can put money to avoid taxation. It doesn't shelter money to give it away - even if you get a portion of it back.