Posted by Julie Ponzi
Obama doesn’t believe in a trickle down tax code either.
Charities compete with Government. Those clients may not need Government programs if they are helped by charities. Besides, all money really belongs to the government anyway. If you can afford to give it away, you should just give it to the Government.
Be careful with your argument. If you argue the charitable tax break encourages giving then you argue the estate tax with its charitable tax break encourages giving. I'm assuming you don't favor an estate tax?
I see that and, of course, the death tax does encourage charitable giving . . . in the same way that extortion might. In general, I don't favor the tax code encouraging to or discouraging me from doing anything with my own money other than whatever it is that I am inclined to do with it for my own reasons. But, now that this tradition of charitable giving as one of the only escapes from the long arm of federal taxation already exists, to take away or diminish it apart from any total revamp (or elimination) of the tax code is preposterous. It is just another attempt to stick it to the wealthy and make a political statement. And the consequence, this time (as usual), will be to harm those who are not at all wealthy.
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