During the campaign, Obama folk said of anti-socialism folk that they make "a virtue out of selfishness." Typically, the McCain camp had no comeback except tired irrelevant sound-bytes
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(b) by making charitable giving the tax rebate to the giver rather than to the charity.
No, I don't even understand what that means. Americans can deduct charitable giving from the AGI (annual gross income)on their tax returns, provided they have receipts. (Why on earth would you think the charity doesn't get the money it's given?) I believe the UK does something quite similar.
As for motive--well, right, of course. God forbid we should give them credit for generosity.
"In the USA if you give money to charity you get the tax back."
I'm sorry. This isn't how it works. There is no tax on charitable giving to "get back" in the first place.
"In the UK if I give money to charity the charity gets the tax."
But here, there is no tax to get. Charities are exempt from taxation, and any money that we give to them--those registered as tax-exempt--is not taxed. That's the point. If we have receipts to show that we've given money to a tax-exempt charity, we deduct that amount from our AGI, or Adjusted Gross Income on our tax returns. Charities are not taxed, nor do they "get" taxes. They get what we give them, and we don't have to pay income tax on the amount we give them.
Sigisgrim, you should visit south Georgia--then again, maybe not. We're very polite here on the streets and roads. Nobody has to be a bully here as they do have to be in England. It's not that we're "better," just that we are nice to each other, so it's not necessary here to be so rude.
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No, I don't even understand what that means. Americans can deduct charitable giving from the AGI (annual gross income)on their tax returns, provided they have receipts. (Why on earth would you think the charity doesn't get the money it's given?) I believe the UK does something quite similar.
As for motive--well, right, of course. God forbid we should give them credit for generosity.
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(The comment has been removed)
I'm sorry. This isn't how it works. There is no tax on charitable giving to "get back" in the first place.
"In the UK if I give money to charity the charity gets the tax."
But here, there is no tax to get. Charities are exempt from taxation, and any money that we give to them--those registered as tax-exempt--is not taxed. That's the point. If we have receipts to show that we've given money to a tax-exempt charity, we deduct that amount from our AGI, or Adjusted Gross Income on our tax returns. Charities are not taxed, nor do they "get" taxes. They get what we give them, and we don't have to pay income tax on the amount we give them.
Sigisgrim, you should visit south Georgia--then again, maybe not. We're very polite here on the streets and roads. Nobody has to be a bully here as they do have to be in England. It's not that we're "better," just that we are nice to each other, so it's not necessary here to be so rude.
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