Should 'charitable' tax deductions be curtailed or eliminated?

[Dixie - In Memoriam]

Bullshit. They arn't paying income tax, but they are paying lots of other taxes.

So is everyone else. Correct?

 

[Rune]

why do we have nearly 50% of America not paying any taxes at all? [/I]

Just like to keep it acurate.

 

[Billy the Great Khan]

Bullshit. They aren't paying income tax, but they are paying lots of other taxes.

So are 503c's.

 

[Liberty]

We should get rid of the income tax so this isn't an issue.

 

[Schadenfreude]

Maybe the not-so-altruistic truth is that many people do give to charity because they get something in return.






Since 1917, our tax code has allowed individuals who donate to charitable and certain other nonprofit organizations to receive a tax deduction for their gifts.




The deduction, for those who itemize, can be a great incentive for donations. However, it comes with a cost to the federal bottom line.






As we look for ways to reduce the amount of debt our government is taking on, many things we've come to expect may be put on the chopping block.




The Center on Philanthropy at Indiana University found that reducing the tax deduction would have a relatively small negative effect on itemized charitable giving. The center estimated that if the deduction cut had been in effect in 2006, which is the latest year for which data are available, total itemized charitable giving by households would have dropped 2.1 percent. Total itemized giving by the high-income households would have declined 4.8 percent, or a drop of $3.87 billion.






The Center on Budget and Policy Priorities came to a similar conclusion but went further by pointing out that a large portion of charitable giving derives from foundations, estates, and corporations and from individuals who do not itemize their contributions on their tax returns.

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/19/AR2010111906507.html

giving should not be attached to tax deductions and is a hold over from when communities were smaller and donations frequently went to people that were to known

now we have huge communities and givers and recipients no longer know each other so the government steps in

 

[Guns Guns Guns]

Each year, millions of American taxpayers claim tax deductions for contributions to their favorite charities.



The charitable tax deduction subsidizes private giving by reducing the out-of-pocket cost of making contributions.




For example, a taxpayer in the 28 percent tax bracket who gives $100 to a favorite charity cuts his or her tax bill by $28 with a charitable tax deduction, in effect reducing the cost of the donation to $72.




However, giving such tax incentives is not an inexpensive endeavor for the federal government.








http://www.taxpolicycenter.org/publications/url.cfm?ID=310256

 

[Liberty]

Each year, millions of American taxpayers claim tax deductions for contributions to their favorite charities.



The charitable tax deduction subsidizes private giving by reducing the out-of-pocket cost of making contributions.




For example, a taxpayer in the 28 percent tax bracket who gives $100 to a favorite charity cuts his or her tax bill by $28 with a charitable tax deduction, in effect reducing the cost of the donation to $72.




However, giving such tax incentives is not an inexpensive endeavor for the federal government.








http://www.taxpolicycenter.org/publications/url.cfm?ID=310256

We should get rid of the income tax so this isn't an issue.