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I am very well aware of that. *NM* snoopcester Send a noteboard - 24/09/2012 01:47:06 PM
Based on what you write, it's hard to tell whether you know this or not, but there is not a one-to-one tradeoff of charity money and tax money. Charitable contributions give a tax deduction, not a tax credit.

So, for a hypothetical person with a $50,000 income and a tax bill of 20%/$10,000:

If she gives $10,000 in tax-deductible charitable contributions, her tax bill only drops to 20% of $40,000, or $8,000.

The only way for her to get to $0 tax due is to give all of her income to charity.

The above isn't exactly true, as the math is complicated by the other deductions she will have (essentially, giving to charity for most people is not a tax deduction at all unless they have enough deductions so that the total adds to more than the standard deduction, which it won't for most people), as well as progressiveness in the tax code.
*MySmiley*

Robert Graves "There is no money in poetry, but then there is no poetry in money, either."

Henning Mankell "We must defend the open society, because if we start locking our doors, if we let fear decide, the person who committed the act of terror will win"
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Taxes and Charity - 23/09/2012 04:57:07 AM 1115 Views
Proof that Burr is ..... - 23/09/2012 05:05:37 AM 573 Views
Voting. - 23/09/2012 06:43:12 AM 673 Views
Joel = Fool ; I vote every year, are you just saying random things now? *NM* - 25/09/2012 01:42:49 AM 227 Views
"I am proud to say that I didn't vote for anyone in 2004."-Anonymous2000 - 25/09/2012 01:52:00 AM 759 Views
Do you have a reading comprehension problem? - 25/09/2012 02:54:28 AM 555 Views
"Anyone" means "anyone;" perhaps you have a writing comprehension problem. - 25/09/2012 03:39:11 AM 562 Views
Joel = Moron - 25/09/2012 04:37:15 AM 587 Views
You could leave out the insults, you know? - 25/09/2012 08:35:12 AM 652 Views
It is an old debate, and one with many edits. - 23/09/2012 06:32:40 AM 763 Views
Re: Taxes and Charity - 23/09/2012 07:47:16 AM 666 Views
I imagine much of Romney's charitable giving is to the Mormon Church. - 23/09/2012 12:08:45 PM 621 Views
Almost all of my charitable giving goes to Mercy Corps - 23/09/2012 03:48:30 PM 586 Views
Let me see how I interpret this post... - 23/09/2012 04:56:20 PM 639 Views
huh? - 23/09/2012 06:49:52 PM 716 Views
I would argue that "our society" includes the rest of the world as well. *NM* - 26/09/2012 03:24:02 PM 245 Views
Ok - 26/09/2012 07:36:35 PM 652 Views
Is the Mormon Church not part of society? But that issue is part of why I favor taxation. *NM* - 23/09/2012 10:14:39 PM 231 Views
I'm part of society too. Does that mean I'm as worthy a recipient of money as the public purse? *NM* - 23/09/2012 10:37:31 PM 272 Views
To whatever extent that we should support charity beyond taxation, yes, you are, IMO. - 24/09/2012 03:56:31 AM 564 Views
I agree with you - 24/09/2012 11:25:14 AM 1969 Views
Charity in place of tax - 24/09/2012 12:05:03 PM 615 Views
I am very well aware of that. *NM* - 24/09/2012 01:47:06 PM 228 Views
I DISagree with both of you. - 25/09/2012 02:36:05 AM 1888 Views
Re: I DISagree with both of you. - 25/09/2012 02:26:16 PM 862 Views
At the risk of sounding like a fundamentalist... - 23/09/2012 11:05:14 PM 608 Views
Local symphonies are usually charities - 23/09/2012 11:21:07 PM 598 Views
Very well said. *NM* - 24/09/2012 06:12:23 PM 259 Views
will you count Scientology as a church? - 26/09/2012 03:26:53 PM 606 Views
You need both. - 26/09/2012 03:35:41 PM 647 Views

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