WashPost Worries Tax Cuts Will Spur Middle Class to Stop Donating to Charity

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On Christmas Eve, The Washington Post found another reason to suggest the Trump tax cut was a terrible policy: Middle-class people would stop giving to charity. That’s a bit insulting, to insist that most Americans only donate to get a tax break. Under the headline “Tax law could crunch charities, “ Post reporter Todd C. Frankel warned:

Many U.S. charities are worried the tax overhaul bill signed by President Trump on Friday could spur a landmark shift in philanthropy, speeding along the decline of middle-class donors and transforming charitable giftgiving into a pursuit largely left to the wealthy.

The source of concern is how the tax bill is expected to sharply reduce the number of taxpayers who qualify for the charitable tax deduction – a big driver of gifts to nonprofits. One study predicts that donations will fall by at least $13 billion, about 4.5 percent, next year.

The study came from a lobbying group for philanthropies called Independent Sector. (It should be called Liberal Sector.) – READ MORE

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