Talk of The Villages Florida - View Single Post - Rick Perry
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Old 09-05-2011, 10:59 AM
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Originally Posted by Figmo Bohica View Post
Katz, all that does is lower their federal, state and local taxes. Do you really think they would give it away if not for the tax breaks? Really now.
People who make charitable contributions reduce the amount if income that is subject to tax - these contributions do not reduce the amount of taxes owed dollar for dollar.

If you are in a 25% income bracket and choose to give $1,000 to the charity of your choice, you reduce your taxable income by $1,000. However, you reduce your tax obligation by only $250. You are out a net $750. In effect, you give away $750 and obligate the rest of us for the $250 deficit. If you choose to give to the charity of your choice, that should be your business and your business alone. The government should not kick in.