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Originally Posted by GBBob
There are plenty of "rich" who wouldn't donate a penney of their money to charity no matter what the deduction...But I bet the majority of the 39% bracket that donate will continue to no matter what the loss of deductions might be. You think Bill Gates does what he does for the deduction?
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"It's an important part of tax planning" Riot 3/25/09
Seriously to me it has nothing to do with being fair and everything to do with getting their hands on yet more money. Damn if they have to rob charities to do so. I also believe Gates deducted his charitable donations AND is wealthy enough to create his own charities with his wife manning the register. Still far better than the likes of Leon Panetta who formed the Leon & Sylvia Panetta Institute for Public Policy at Cal U and now gets paid by the school?
