Open Season on Wealthy Donors

Open Season on Wealthy Donors

A new report claims the rich are stingy givers. But  Internal Revenue Service data indicates that just those earning more than $200,000–in the top five percent by income– donated $69 billion—or fully 33 percent of the total $206 billion in individual (non-corporate, non-foundation) charitable giving in 2010. In other words, this is another version of the income tax debate, in which it’s argued that rates on the wealthy are too low—at the same time they actually pay a lion’s share of taxes.

 

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