Charitable giving drops after GOP tax 'cut': report

[turbinetree]

Published 1 min ago on June 18, 2019
By Matthew Chapman

On Tuesday, the Washington Post reported that charitable giving dropped 1.7 percent last year, adjusted for inflation, even as the economy surged.

The likely culprit? The GOP tax law, according to a report from Giving USA.

Although corporate donations rose 2.9 percent and foundation gifts rose 4.7 percent in the previous year, charitable donations from individuals — which is where the bulk of actual charity takes place — dropped 3.4 percent, the first time this has happened since the financial crisis.

The GOP tax law significantly changed how the standard deduction works, making it much harder for middle-class families to take advantage of itemized deductions — something that even before the tax law, were disproportionately taken out by the top 1 percent of earners.

https://www.rawstory.com/2019/06/charitable-giving-drops-1-7-percent-after-gop-tax-cut-report/

I wonder if the republicans would go to Goodwill and ask them if the tax cuts worked................I know my account told me that my charitable giving just wasn't enough it lacked about 20,000 dollars to make the grade..........................

[JaneQPublic]

1. I was afraid of that.

I gave more to charitable organizations last year than ever before. I tried itemizing the donations on my taxes, but still it didn't help because of the new standard deduction.

Without that little incentive, even generous folks will de-prioritize writing those checks.

[turbinetree]

2. My account told me that since I am not in the 1% class or a corporation just forget about it

and I still had to pay, I didn't qualify for itemize deductions I wonder what that jerk Paul (AYN RAND) Ryan is doing right now besides working for that lobbying firm getting tax breaks.........................

[Coventina]

3. My husband and I had to cut back due in order to pay under the new tax structure.