The Washington Times’ recent front-page article “Charities could be losers in tax plan” (Friday) is off-base in portraying charities as the biggest losers in the president’s proposal to cut income tax deductions for charitable contributions. The biggest losers are going to be the taxpayers.
When taxpayers claim charitable contributions, they get to save approximately 15 percent to 20 percent of the contribution amount in reduced taxes, which means the government pays 15 percent to 20 percent of the total contribution. However, if the government ends the tax deductions, the total charitable contributions will drop considerably. With less money coming in to support those in need, the government then will have to step in with entitlement programs.
If the government steps in, it will have to make up the shortfall and we, the taxpayers, will be on the hook. We will end up with more entitlements, more debt and more voters beholden to a sugar-daddy-style government.