The Goldendale Sentinel - Headlines & History since 1879

By Don Brunell
Association of Washington Business 

Will limiting charitable tax deductions really work?

Guest Commentary

 


With all the class warfare these days, “rich” has become a four-letter word. To hear some tell it, high-income earners are greedy misers who don’t pay their “fair share.”

Well, not quite.

When it comes to taxes, the IRS reports that, in 2009, the latest year figures are available; the top 1 percent earned 17 percent of all income and paid 37 percent of federal income taxes.

As for contributing to charity, Americans are a generous people. According to the Urban Institute’s Center on Nonprofits and Philanthropy, private donors contributed $202 billion to charities in 2010. The Chronicle of Philanthropy reports that last year the top 10 wealthy individuals donated $8.3 billion,...



For access to this article please sign in or subscribe.


 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2018