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The tax break is only around 20% of the donation. Even if the donated money is not spent as perfectly as you would like, there's 5 times as much of it.
by ars 4y ago
The tax break is only around 20% of the donation. Even if the donated money is not spent as perfectly as you would like, there's 5 times as much of it.
- s1artibartfast 4y agoExactly. You would have to believe that taxes do 5x more public good per dollar than charities. With defense spending, pet projects, and incompetence, it is hard to make a case that they are on parity.
- mercutio2 4y agoHuh? My marginal tax rate is ~45%. I get way more than a 20% benefit from 501c3 donations. I get to avoid capital gains on the donation of appreciated assets on top of that. For whom is the benefit only 20%?
- ars 4y agoLong term capital gains tax is 15%. The vast majority of these are against capital gains, not income.
- lmm 4y agoThe tax break for SALT works exactly the same way, no?