IDONO profile image 81

What would happen if charitable contributions (across the board) were no longer tax deductible?


To claim tax credit on contributions, you usually have to itemize. For itemized deductions to exceed standard deductions, it would take a certain amount of taxable income. So, would doing away with this deduction create more government revenue than an increase to the top 1%? Or would charities dissappear and the true "giving spirit" of Americans be exposed as a mere facade with an ulterior motive? Are we truly that generous? Thoughts?

 

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Attikos profile image75

Attikos says

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4 years ago
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Goody5 profile image83

Goody5 says

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    Attikos 4 years ago

    People who give to charities would do it regardless. You never save as much in taxes as you give. Deductions don't work like that. What the loss of them would do is send less money to charities, more to government. Fie upon that.


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kathleenkat says

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G. Diane Nelson Trotter (dianetrotter) says

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William Elliott (Bretsuki) says

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    IDONO 4 years ago

    I pretty much agree. I guess I'm just questioning the motives of those that toot their own horns. But no one yet has addressed my revenue question. At least the economic part of it.