Now We Will Learn Who The Real Charitable People Are
Is one truly being charitable if one seeks tax write-offs for one’s charitable giving? That question is missing in discussions about the effect that tax reform will have on charities.
From Chris Gates, senior policy adviser for the Global Social Enterprise Initiative:
“By doubling the standard deduction, estimates are that between 90-95 percent of filers will not itemize their returns, thus walling off the charitable deduction from all but 5-10 percent of filers. The Tax Policy Center estimates this change will reduce charitable giving by up to $20 billion a year.”
Nothing in the recently-passed tax reform prevents people from giving to a charity if people are truly altruistic.
Plenty of Americans routinely make donations to charity without seeking a tax benefit for doing so.
So, should the federal government use taxation to coerce people into giving to charity?