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This is technically incorrect. They definitely are giving the money away, to the DAF. You may not like that the money sits in a DAF instead of your preferred ch
by mercutio2 8y ago
This is technically incorrect. They definitely are giving the money away, to the DAF. You may not like that the money sits in a DAF instead of your preferred charity’s coffers, but it’s still given away, they can never get it back.
If you want to criticize DAFs (which I don’t, but I’d rather debate my opponents’ best arguments, not their worst), the tax credit significantly precedes the distribution to any 501c3s, and those 501c3s might theoretically be benefitting society.
I’m generally in favor of removing the charitable deduction entirely, but the time shifting really doesn’t bother me. Most 501c3 missions barely benefit the people I think actually need and deserve help, in large part they just provide jobs to rich westerners and then as almost an after thought benefit needy people, often with such onerous strings attached that their primary purpose looks like marketing and signaling, not improvements to the aggregate human condition.
- nerdponx 8y agoThank you for clarifying