Roberton Williams, senior fellow at the Tax Policy Center, said it’s impossible to calculate the exact effects of all the tax changes, but said the overall result is clear – less philanthropic giving.
“This will lead people to give less to charities if they behave the way they’ve behaved in the past,” he said. “We’ve already seen a drop in giving as a result of the economic collapse. On top of that, this will just reduce the amount of giving.”
About the prospect of reduced giving:[blockquote]Asked about that, Office of Management and Budget Director Peter Orszag said Mr. Obama took care of that by giving charities government money to make up part of the difference.[/blockquote]So, individual giving to the charity of the giver’s choice is to be replaced in part with government grants to charities of the government’s choice. The government gets to direct charity policy in this shell game.
Why shouldn’t government direct giving to govenrment approved charities? It’s the Marxest way.
And [url=http://spectator.org/archives/2009/03/02/to-the-left]from here[/url]:[blockquote]According to a Senate Democrat aide, who has been briefed on the federal fund to offset charitable losses, the government funds would come with strings attached. “If, say, a Catholic hospital sought and received those funds, it would be required to adhere to federal polices on issues like abortion. Or the hospital could simply not seek the funds to make up the difference,” says the aide. [/blockquote]So, charities with whom the administration disagrees will suffer funding losses, but those who follow the government line will be reimbursed.
In CT, all charitable giving is taxed at the full state income tax rate. There are no charitable exemptions on the income tax. They do provide sales tax exemption…but you have to have a tax number issued and they monitor it pretty closely.
So, the state gets their cut on every dollar given for AIDS relief, Breast Cancer research, Homeless Shelters, and Churches. It’s about 4%. It belies every claim by those in the legislature that they care about the populace they govern.
3, as the saying goes: You take the King’s coin you do the King’s bidding. Of course it’s our money being laundered therough the feds.
Gee, more centralization of power and spending in the hands of Obama and his pals. Imagine my shock.
So, I wonder what effect it would have if everyone who still files taxes via U.S. Mail should include a tea bag with their tax forms?
Too bad I did e-filing this year. 🙂
By the way, it is amusing that the Democrats, who have the lowest charitable giving record, seeks to limit charitable giving by others by taking away the tax credits for this.
Just sayin’.