Re:The K-shaped recovery
by username90 on Friday September 25, 2020 @02:19PM
(#24592631)
USA donates a lot since it is tax exempt compared to paying money. Donating to your local church to keep it running so you can keep attending it isn't really a charitable donation for example.
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Donating $1000 and getting $250-350 of credit on your taxes for that is still a net loss of $650-750. That it keeps the church you prefer to attend open is no worse to me (as an atheist) than supporting a museum, a university, or the orchestra.
Why isn't my gym membership or my football tickets or my Starbucks orders tax deductible, but my church dues are?
"Democratic vice presidential candidate Joe Biden and his wife gave an average of $369 a year to charity during the past decade, his tax records show." - ABC news
That was in 2008.
"Joe Biden and his wife donated just $70,000 to charity in the two decades leading up to 2017, per their tax returns. But when their earnings skyrocketed in 2017, so did their giving. That year they handed more than $1 million, or about 9% of their income" (including $250K to their own foundations) (still pretty low since he and his surviving children got stinking rich after the Vice Presidency and is quite old)
-Forbes