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Originally Posted by GBBob
There are plenty of "rich" who wouldn't donate a penney of their money to charity no matter what the deduction...But I bet the majority of the 39% bracket that donate will continue to no matter what the loss of deductions might be. You think Bill Gates does what he does for the deduction?
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That is not the point. The fact that charities are and will struggle with an economic downturn makes this idea a loser. Remember that everyone earning over $250k is now rich so throwing Bill Gates out there is a bit much. You need to come back to the US!
And while some will continue to donate at their current levels some of the not so rich rich people will cut their chartiable giving as to not have to go deeper in their pockets out of necessity of follow ing a budget or simply not having the extra money. In the end this cannot help charity and will hurt them. How is that a good thing?
You know if you disagree with a demoractic proposal we wont turn your name over to Pelosi and crew ....