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View Diary: Donations to 501(c)4's are not tax-deductible. Good. Why are those to 501(c)3's? (88 comments)

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  •  We donate all year, mostly via recurring donations (5+ / 0-)

    At the end of the year, we add it up, take a third of that amount from our savings and donate THAT amount, knowing we'll get it back in our refund in February, which we re-deposit into our emergency fund.  

    (Yes, we're financially savvy people who choose to give the government an interest-free loan all year foregoing .000025% in a saving account).

    Take away the deductibility, and Meals on Wheels, two Food Banks, two charities for veterans, 2 food banks for homeless/low-income owners of pets and 2 other charities lose that not insignificant amount of money.

    The tax code is set up to protect the wealthy. Charitable giving helps a lot of people in need.

    But sure, take away the deduction, and hope that Republicans will send the money to those in need, because they have such a good track record of doing so, right?

    My rebate from GWB was donated to Northwest Harvest and multiplied by the tax deduction. I bet most citizens can't even remember what they spent theirs on.

    But THAT is what Republicans do with tax receipts when they feel there is a little "extra" lying around.... Or they buy stuff like tanks the Pentagon doesn't want.

    © grover


    So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

    by grover on Sun May 19, 2013 at 02:50:59 PM PDT

    •  Why should (1+ / 0-)
      Recommended by:
      auron renouille

      the tax code be your guide to charitable giving.  I understand your current logic to giving and why it makes economic sense for you.  That does not make it good tax code, good policy or good government.  This sort of policy makes the government spend money to not collect it.  It provides piles of fake work for accountants, bookkeepers and regulators.

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