2 ms·
Since a lot of commenters seem confused about this in relation to charitable deductions: https://www.investopedia.com/terms/m/marginaltaxrate.asp https://www.i
by AlbertCory 4y ago
Since a lot of commenters seem confused about this in relation to charitable deductions:
https://www.investopedia.com/terms/m/marginaltaxrate.asp https://www.investopedia.com/terms/m/marginaltaxrate.asp
https://www.investopedia.com/articles/personal-finance/110614/overall-tax-burden-state.asp https://www.investopedia.com/articles/personal-finance/11061...
It's the marginal tax rate we're concerned with, not the average. That's what you're deducting against.
Secondly, some people cite the 13% of taxpayers who itemize as the relevant number. The relevant number is the high-income taxpayers who itemize, and even more relevant is that same number but in high-tax states.
It's a legitimate debate whether public broadcasting serves a purpose, or whether it's biased. It's also a legitimate debate whether 501(c)(3) should exist at all. But whether we're subsidizing NPR through private deductions is not a debate. We are.
Likewise lots of 501(c)(3) organizations that are deeply controversial.