The Liberal Slogan
"The Dems don't have to worry about the deductions since they rarely give
to charities. Just check out POS-POTUS and Bidens last years tax
deductions to charities.It's another way for democrats in government to make conservatives "pay
their fair share" and affects conservatives the most since democrats
donate so little to charity anyway. That's their "balanced" approach". MC
POST HI-LITE: Did you know that in a socialist
nation that all charity comes from the government, not from people and
organizations? Kind of fits in with the rest of the socialistic changes
Barack Obama has been making, doesn’t it?08
Most charities in the United States rely on donations as their
primary source of income. When donations are made to a non-profit
charity, they become a tax deduction to the person or corporation giving
the donation. Subsequently, many people only give donations because of
the tax deduction they receive. This can be seen in the fact that
many non-profit charities receive a third to half of their annual
donations in the month December as people begin to think about income
taxes and the need for deductions.
Now, those tax deductions are
in danger of being reduced or disappearing all together and if they do, a
large percentage of donations will also disappear resulting in many a
charity having to close their doors and it all has to do with the
infamous fiscal cliff.
One of the economic plans being put forth by Democrats calls for the reduction
of allowable charitable tax deductions. Others are proposing a cap on
the amount of allowable charitable tax deductions and yet others are
abdicating dropping all tax deductions for charitable donations.
Any
of these plans will have a drastic impact on many non-profit
charities. Reducing the deduction amount or placing a cap on allowable
deductions will hurt many charities. Dropping all tax deductions will
be devastating to non-profit charities resulting in many of them no
longer being able to afford to help those in need. Hundreds and
thousands of charities will cease to exist.
But don’t think the Democrats are alone on this idea. The plan put forth by House Speaker John Boehner
last week also called for a reduction in the tax deductions for
charitable giving. In this respect, his plan was no different than what
the Democrats are considering.
Did you know that in a socialist
nation that all charity comes from the government, not from people and
organizations? Kind of fits in with the rest of the socialistic changes
Barack Obama has been making, doesn’t it?08
If I still worked for
a non-profit charity, I would be getting very nervous right now,
especially with both sides of the table talking about reducing or
eliminating tax deductions for charitable donations. Will non-profit
charities have to start laying off staff or cutting their outreach? For
many, their future does not appear to be very bright as we enter into
the Christmas holiday season.