|
|
| Re: LIC Yuppies get steamed (805367) | |||
 |
|||
| Home > SubChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: LIC Yuppies get steamed |
|
|
Posted by Broadway Lion on Mon Jul 6 10:21:22 2009, in response to Re: LIC Yuppies get steamed, posted by BMTLines on Mon Jul 6 08:10:31 2009. This has been said. But it is not so.Most contributions, such as to churches are by people who use the short form, and therefore do not deduct contributions anyway. Further, a deduction is not taken from your tax paid, but off the top of your taxable income. Thus if you make $52,000 a year and donate $1,000, your taxable income becomes $51,000. Assuming a tax rate of 15% you pay 7800 in taxes on the 52,000 and 7650 on an income of 51,000, a saving of $150. That on your $1000 donation. Ergo PEOPLE DO NOT GIVE because of tax benefits. Ergo PEOPLE GIVE BECAUSE THE BELIEVE IN THE CAUSE. WE give to charity in the substantial five figures, and we get no tax benefits for doing so. We give a substantial amount (high four figures) directly to indigent persons who appear here at the Abbey, and there is NO tax credit for donations to individuals. We are the recipient of other people's giving, and our gifts are not down due to the economy nor do we expect that they would be affected by tax laws. The LION does not accept your notion that the loss of a tax write off for charitable giving will eliminate or even reduce the substantial charitable giving offered by Americans to those persons in need of for causes that depend on charitable giving. ROAR |
|
|
|