Home > Uncategorized > If You Take a Charitable Tax Deduction, You Should Actually Give to Charity

If You Take a Charitable Tax Deduction, You Should Actually Give to Charity

August 1, 2018

Here’s the quote from this article that caught my eye:

For every dollar a millionaire gives to charity, the public subsidizes 37 to 57 cents of that donation through diminished tax revenue. By giving to their own selected charities, millionaires are paying less for public services like infrastructure, national defense, veteran care, and parks.

As noted in several previous posts, philanthropy undercuts democracy by diverting funds available for tax revenues, funds that would be distributed based on democratic deliberations. So instead of priorities being set in the political arena, where the public gets to weigh in on the importance of various programs, the priorities are set by philanthropists who can underwrite pet projects— some of which undercut the common good. Bill Gates’ charitable gifts to public schools are a case in point.

Source: If You Take a Charitable Tax Deduction, You Should Actually Give to Charity

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