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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Wall Street church with a $6 billion portfolio, Trinity Church Episcopal parish Lower Manhattan
Trinity has been able to do all this because its been a savvy manager of its resources. It is also, as a church, exempt from taxes.
But some wonder about the ethics of a religious institution being such a power player in the world of New York real estate.
What is the fundamental economic issue going on that churches deserve tax exemption and can build up a lot of wealth? asked Rachel M. McCleary, a lecturer in the economics department at Harvard University and co-author of the coming book The Wealth of Religions: The Political Economy of Believing and Belonging.
https://www.msn.com/en-us/money/companies/the-wall-street-church-with-a-dollar6-billion-portfolio/ar-BBTk0yJ?ocid=spartandhp
tax these bastards!
TheBlackAdder
(28,261 posts)regnaD kciN
(26,045 posts)...to charitable efforts, both nationally and worldwide. And, as these are Episcopal charitable programs, they dont come with a Christians only or first listen to this sermon before we give you food condition.
Incidentally, its no surprise why the parish is that wealthy, and its purely an accident of history: back when they were founded, before the revolution, the King of England deeded them a large chunk of land at the tip of Manhattan. By chance, thats where the NYSE wound up. The parish never sold the land, instead, they leased it to be built on, and all of the major financial institutions needing to be based right next to the NYSE pay them hefty rent for the right to keep their skyscrapers on that property.
DURHAM D
(32,619 posts)stolen from one of my Dutch ancestors.
Not a fan.
wryter2000
(46,136 posts)The land didn't belong to the Dutch any more than it did to the English.
DURHAM D
(32,619 posts)They traded with them. They developed a friendly co-existence and NEVER tried to convert them to some European religion.
Mr. Quackers
(443 posts)wryter2000
(46,136 posts)I don't think you were addressing me
Mr. Quackers
(443 posts)should have been.
Mr. Quackers
(443 posts)DURHAM D
(32,619 posts)Mr. Quackers
(443 posts)DURHAM D
(32,619 posts)changed hands over the centuries due to population changes, migration, and war?
Mr. Quackers
(443 posts)on racism, slavery, genocide, and theft?
We're not talking about centuries and centuries of world history. We're talking about something specific.