WHY THE CHARITABLE DEDUCTION SHOULD BE AVAILABLE FOR ALL TAXPAYERS
Currently, Americans can reduce their taxes by giving to charities. This is called the charitable deduction. The charitable deduction is only available to itemizers. Under the current proposals, only 5% of Americans are expected to itemize their taxes. It's time for all American taxpayers to have access to the charitable deduction. Watch the video and take action. https://youtu.be/pQq5ONUyQ-I or read below.
100 years ago, the United States Congress did something remarkable: It used the tax code to say something vital about what America believes in. The year was 1917, we were on the brink of World War I, and the US Treasury needed every dollar it could find. But even as taxes increased overall, Congress passed a law allowing Americans to reduce their taxes based on donations made to charity. This is known as the charitable deduction. It’s a bedrock of American tax policy because it expresses some bedrock American values: • That people should be empowered to solve problems; • That communities should care for their own; • And that the best solutions are often found close to home. Those may be things we believe in 100%, yet only 30% of taxpayers can actually take advantage of the charitable deduction. That’s because all deductions are reserved for those who itemize on their taxes—and itemizers are usually those with higher incomes. But why should that be? Isn’t giving good for all of us? 100 years after Congress first passed the charitable deduction, we believe it’s time to make the deduction available to 100% of taxpayers. Would this be a better, stronger, fairer country if the tax law encouraged every American to support the charitable community? If you believe the answer is YES, please help us get to 100%. Find out more and join the cause at Giving100.org.