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View Diary: Mitt donated 30% to charity? (53 comments)

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  •  elmo - I think that is the case for most (0+ / 0-)

    people even the rich. When a person at the top tax rate, 35%, gives a $1 to charity they have a 35 cent benefit, but they are still out a net of 65 cents. If they put that $1 in the bank, and paid 35 cents in taxes, they would still have 65 cents in the bank. It never makes sense on a purely economic basis, even after tax, to make a charitable contribution so there is always some other motivating factor.

    I was just responding to the question of did Romney contribute 30% of his income to charity? I don't know but anyone who really cared could look it up for 2010 & 2011.

    "let's talk about that"

    by VClib on Sat Oct 13, 2012 at 10:40:06 AM PDT

    [ Parent ]

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