Who Owes Me Three Dollars?

August 2, 2005

A workable solution to the problem that still all…

Filed under: Uncategorized — ineedsheetmusic @ 2:24 am

A workable solution

to the problem that still allows individuals to claim deductions on their income tax returns for charitible giving is the following: A score is given to each institution for which an individual may want to claim a deduction. That score becomes a percentage which is multiplied with the amount donated by the individual. The resulting number is how much of the individual’s donation he may deduct. The score is a function of the the percentage of the “take” is actually used to help the needy in a material way. This will tend to lead people to give to the institutions which materially meets the need best. It will incentivize institutions to help the needy more efficiently.

People who donate to a church whose budget of $1,000,000 includes $25,000 actually given to the “poor” will find they can deduct only 2.5% of their donation.

The devil, of course, is in the details (or in Massachusetts) and centers around the definition of “materially” assissting. The goal is to get the US government out of the ideology business, as it is supposed to be already.

Come back tomorrow for something new and, if you’re good, maybe a new photo for your viewing pleasure.

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