Charitable Contributions...what Do You Think?

It is my suspicion that the government would prefer that people NOT give to charities, and instead people in need HAVE to rely on the government for assistance. Most good private charities are MUCH more efficient operations than any government program. We also give a great deal to charity (much more than the Bidens do each year, according to their own tax returns,) but would not be able to give nearly as much if we weren't able to get a tax deduction from it.

I think both the charitable contribution and mortgage interest tax deductions should be untouched. We wouldn't have bought a home if we had even thought it possible that the mortgage interest deduction would be revoked.

The government doesn't need more revenue, they need to STOP wasting our money.

Since when did it become the job of the "Rich Dudes" to "FIND THE WAY TO BALANCE THE GOVERNMENTS BUDGETS". No i don't believe they should touch any deductions especially the mortgage interest deduction, that's one of the perks of buying a home.

Politicians like to give big tax perks to large companies so they get big campaign money, makes you wonder why Obama won't give details about where he got his campaign donations from & he plans on raising a BILLION this time around!!! The head of GE made hundreds of BILLIONS here & overseas & his company doesn't have to pay any taxes & now this idiot is sitting in the Whitehouse next to Obama advising him. Maybe large corps & unions shouldn't be allowed to give campaign donations so all this corruption can stop.

We give 10% of our gross income to our church because they have set up a lot of organizations that send relief and aid to the rest of the world. We trust them and have seen how great they do with the money they are given. We do this no matter how much money we have or don't have.

I'm a flat tax type of person. I've quit listening to the radio/politics because it was driving me crazy so a bit out of the loop. I don't agree with taxing rich people more. They will take that money back somewhere else, so I don't see it the benefit that some think it will be...and really...why should they have to pay more? Are they more American? Should they be punished for making more? I think a flat tax makes sense...and for those below a certain bracket, either no taxes for them or else more aid offered, etc. (and, fyi, we are NOT rich at all! it's just my feelings on it)

Like you - I believe it's important to give to charities - real ones that actually do good....there are scams out there!! URGH!!! People trying to take advantage of people's generosity...

Any way - Our elected officials shouldn't be touching this deduction....

they should be focusing on entitlement programs that need to be cut and other programs that should no longer be supported by the U.S. Government - like NPR - while it serves a purpose, it should no longer be getting $1M or more per year....

Our elected officials should be thinking of cutting off Hurricane Katrina "victims" it's been 6 years - if your home isn't rebuilt - that's not the American Tax payers problem...

Our elected officials should be cutting into life-long welfare recipients...there are too many people out there who TRULY need it...

Cutting grants for schools to find out about TV and the affects it has on mice...seriously? About $2M or MORE go out for this!! NO KIDDING!!!

EAR MARKS MUST BE STOPPED!!! It was promised in the 2008 campaign and it's not better - IT IS WORSE!!!!!!

oh man - you got me started...there are more places that the Government needs to cut instead of charities...maybe starting with their life long full pay retirement?

We give 10% of our income. We don't make enough to itemize the deduction into our taxes. At least you got something, at some point. Shouldn't we give to give...and not care about getting back? Isn't that what giving is? Just a thought.

With that said, since so many want that money back...and they did give of their own money...they probably shouldn't touch that deduction.

P.S.
Sorry, that wasn't meant for you personally!! I was just thinking out loud...er...in text. Hey, if we could claim what we give, I would! I was just talking about giving, in general. Sorry, if that seemed personal :)

I think you have an idea that cutting the charitable giving loophole somehow benefits rich businessmen?? what? first of all, rich people are some of the most charitable people I know - except for too many dems in washington. when the 2008 election was happening and candidates had to disclose their taxes - Joe Biden gave only $3000 to charity and he is a millionaire. Obama gave something like $10,000 in a year he earned over a $1million.
Also - tell your representatives and senators in Washington DC to cut out a lot of the waste, redundancy, and special interest perks. That's what is going to help.

edit: also, let me add that I applaud your faith in continuing to tithe even when things seem tight and there isnt enough to go around. All the more reason to make our little voices heard. all the best to you

As a career non-profit professional I have found that personal giving remains fairly through good and tough economic times. While some people's giving decreases during hard times, others, who previously never gave, begin to donate because they see a real need within their communities. Statistically, households in the lower income brackets actual donate a higher percentage of their annual income to charity than households in high income brackets (the households that are perceived as being able to give more).

What really has gotten cut during this recession is the private and foundation grants - those foundations escrow their capital and make grants based on earned income - usually stock investments. When the stock market takes a hit so do the foundations, resulting in less income for them to distribute.

One cut that has been debated for years is the tax exempt status of non-profit organizations. A sect of our government has been pushing to have monetary donations to non-profits taxed - increasing the taxable income for the government while decreasing the amount of the actual donation that the non-profit can keep.

If this happens, coupled with a decrease in tax exemptions to the private donor, like you, the impact on smaller non-profits will be devastating.

Just my thoughts. :)