http://www.reasonableinference.com/2009/03/29/new-tax-structure-charities-and-amount-donated/ Synthesizing topics on law, economics and politics Sun, 01 Aug 2010 20:50:51 +0000 hourly 1 http://wordpress.org/?v=abc http://www.reasonableinference.com/2009/03/29/new-tax-structure-charities-and-amount-donated/comment-page-1/#comment-5 Mjohnson Mon, 30 Mar 2009 18:47:53 +0000 http://www.reasonableinference.com/?p=31#comment-5 Jmartens is right, this proposed change is for families making over $250,000. In 2006 families earning more than $250K, which represents less than 2% of all taxpayers, were responsible for 28& of all giving. More than $81 billion dollars in charitable gifts. According to a study by The Center on Philanthropy, based on the 2006 data, the proposal would result in 4.8% reduction in itemized giving...about 3.9 billion. However, many people believe, including the President, most households who are donors are not going to become non-donors because of this change in policy. we'll see Jmartens is right, this proposed change is for families making over $250,000. In 2006 families earning more than $250K, which represents less than 2% of all taxpayers, were responsible for 28& of all giving. More than $81 billion dollars in charitable gifts. According to a study by The Center on Philanthropy, based on the 2006 data, the proposal would result in 4.8% reduction in itemized giving…about 3.9 billion. However, many people believe, including the President, most households who are donors are not going to become non-donors because of this change in policy. we’ll see

]]> http://www.reasonableinference.com/2009/03/29/new-tax-structure-charities-and-amount-donated/comment-page-1/#comment-4 Jmartens Mon, 30 Mar 2009 05:45:33 +0000 http://www.reasonableinference.com/?p=31#comment-4 What I think is interesting is that the proposed change is only for high income individuals and couples. On first glance, one might think it's appropriate to lower the tax benefit for wealthy folks. However, I suspect that a disproportionate amount of money given to charity is given my small number of wealthy donors. So not only will this tax plan reduce the benefit of giving to charity, it will have that effect only on the people that are most responsible for keeping charities going. Kind of a double whammy. What I think is interesting is that the proposed change is only for high income individuals and couples. On first glance, one might think it’s appropriate to lower the tax benefit for wealthy folks. However, I suspect that a disproportionate amount of money given to charity is given my small number of wealthy donors. So not only will this tax plan reduce the benefit of giving to charity, it will have that effect only on the people that are most responsible for keeping charities going. Kind of a double whammy.

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