Thursday, August 27, 2009

Will High Taxes Alone Reduce Charitable Donations?

Not only do higher taxes help reduce funds being donated to charities, as evidenced from past experience, there is a possibility that there will be future political influences.

These will occur in the form of allowable donations and preferences. Certain types of donations to favored charity types will get tax exemptions, that other charities may not get.

Thus, ideology and political persuasion may take over. Remember, it once was tried in an attachment to a previous Pension Protection Act in Congress. It can happen again, especially with this politically-pointed administration and Congress.

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