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So is this an argument against charitable donation to nonprofits in general? And I doubt your effective tax rate is 40-50%
by dymk 4y ago
So is this an argument against charitable donation to nonprofits in general? And I doubt your effective tax rate is 40-50%
- UIUC_06 4y agoTax math: it's the marginal tax rate you have to look at for deductions, i.e. the rate you'll pay on the next dollar you earn, or save on the dollar you deduct. We don't have a flat tax at the Federal level, or most states. We can find plenty of taxpayers in NY, CA, or MA who have a marginal rate of 40-50%. They are the highly affluent people that those PBS pledge drives featuring Baby Boomer musical acts are aimed at.