Re:The Undermining of American Charity
by Retric on Wednesday August 31, 2016 @03:37PM
(#12400868)
It's not exactly a small change over time. There is ~350 billion in charitable giving in the US per year. If you assume that was taxed at say 20% on average and ignoring inflation or interest * 238 years that's 16.6 trillion or close to the national debt.
Of course our GDP and tax rates has grown over time, but not nearly as quickly as debt interest. So, without doing excessive analysis we would probably have a national surplus if literally nothing else changed in the tax code or spending.
Granted, arguments about lowered GDP and other knock on effects are reasonable. But, suggesting no long term tax breaks seems unlikely.
Of course our GDP and tax rates has grown over time, but not nearly as quickly as debt interest. So, without doing excessive analysis we would probably have a national surplus if literally nothing else changed in the tax code or spending.
Granted, arguments about lowered GDP and other knock on effects are reasonable. But, suggesting no long term tax breaks seems unlikely.