3 ms·
I agree that setting a limit (rather than getting rid of deductions altogether) could be beneficial, while also eliminating a lot of the abuse, but there is one
by mangeletti 11y ago
I agree that setting a limit (rather than getting rid of deductions altogether) could be beneficial, while also eliminating a lot of the abuse, but there is one other thing to consider:
If the limit is $10,000, the middle class and wealthy gain the benefits of directing tax dollars while the underclass remain unrepresented.
I'm a capitalist through and through (you might guess that based on my ideas herein), but giving different people different rules is always a problem.
- jcdavis 11y agoThe "underclass" likely already don't gain any benefits because they almost certainly take the standard deduction instead of itemizing.
- ant6n 11y agoWell, you could make it 1K$. But I think the issue is to try to make it harder to use donations for tax-avoidance by very rich people; this isn't really about the middle class vs poor people (who tend to pay fewer taxes anyway). I think another general issue is that many deductible donations go towards organizations that spend very little on their prescribed cause; or aren't non-profits or for the benefit of the public at all.