Yahoo Answers is shutting down on 4 May 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Is the charitable tax deduction important to you? Do you favor this?

I heard Fox reporting last night that the Obama's new jobs bill, if passed, will wipe out the tax deduction for charities. I think it was over a certain amount but I don't know and am wondering if anyone else heard. However, it was being hotly discussed. What do you think?

4 Answers

Relevance
  • Bill
    Lv 7
    10 years ago
    Favourite answer

    the tax deduction is a very big deal for a charity to survive. Obama just wants to destroy everything.he does it a little at a time so his confused supporters don't notice. right out of the Nazi handbook.

  • Anonymous
    10 years ago

    I have mixed feelings. I am for anything that lowers tax. However charity is a tool of the rich and of religious fanatics.

    People give to churches and get away with calling that charity. How is it charity to convert someone to a religion? How much of that money goes to actual helping people in need and how much goes to sustaining temples and churches?

    Corporations typically use charity funds to donate to causes that make them look good. If a large corporation donates to breast cancer awareness of fighting cancer, they are actually spending the money on publicity. That money does just as much good for business as if it were spent on commercials.

    Rich people set up charities to improve their name-like "Bill Gates Foundation". Imagine getting a tax deduction for covering up your unpopularity.

  • ?
    Lv 5
    10 years ago

    Even though I think people should donate without incentives, but charitable tax deductions encourage more donations.

    So I favor keeping the tax deductions

  • Anonymous
    10 years ago

    It will hurt donations but in all fairness why should tax payers make up the difference with the tax deductions in the first place.

Still have questions? Get answers by asking now.