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You betcher bippy baby! The poor among us would still be the largest/ probably the only contributors...those who always were charitable would continue to be so. Those whose motives were less stellar would stop cold turkey and not even feel guilty! Their multiple chartitable foundations would be dismantled tout de suite, staffs fired, without a doubt! :(
Yep, the majority of large donors are doing this because they have accountants to tell them just how much they need to donate each year as a tax shelter. If the income tax was eliminated they would no longer have the incentive to give.4
No. People give because they want to. Even if they take the tax write-off it's only a percentage of the donation.
I don't think so. If taxes were eliminated people would have more money in their pockets. Donations can only be deducted if you have enough deductions to file something other then a 1040 short form. If you're filing a 1040 you will not be able to claim that charitable donation.
I think the primary purpose of charity is helping other less fortunate souls. The tax deduction is secondary. At least in my point of view. So, no. People will still give. And probably more since the payment of taxes is gone.
No I think they would go up if the boards didn't recieve so much in salaries and more money actually went to the cause instead of adminastration fees. Take UNICEF for example. And will all the money collect every year to feed the starving, why are they not fed...Africa is a perfect example
I honestly think if anything, it would increase. Even with the tax shelter, you still end up giving more money than you get back via the deduction. Most people and companies donate because they want to. It feels good to give.
Depend upon it.
I would give more because I'd have more to give. I don't consider the tax deduction at all when I give. I am sure there are some people who do but I'm not in their income category.
I give because I want to.
+5
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You're reading If all USA income taxes were eliminated, do you think that charitable donations would be drastically reduced, simply because they would no longer be "tax deductible," and the incentive to lower one's tax obligation would be simultaneously eliminated?
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