By Charles T. Clotfelter
The U.S. is particular between Western nations in its reliance on nonprofit associations to accomplish significant social features. This reliance is rooted in American background and is fostered through federal tax provisions for charitable giving. during this research, Charles T. Clotfelter demonstrates that alterations in tax policy—effected via laws or inflation—can have an important influence at the point and composition of giving. Clotfelter makes a speciality of empirical research of the results of tax coverage on charitable giving in 4 significant parts: person contributions, volunteering, company giving, and charitable bequests. for every quarter, discussions of monetary conception and correct tax legislations precede a assessment of the knowledge and method utilized in econometric reviews of charitable giving. moreover, new econometric analyses are awarded, in addition to empirical information at the impression of taxes on foundations. whereas taxes will not be an important determinant of contributions, the result of the analyses provided the following recommend that charitable deductions, in addition to tax charges and different facets of the tax approach, are major components in making a choice on the scale and distribution of charitable giving. This paintings is a version for policy-oriented examine efforts, however it additionally provides an enormous (and very well timed) addition to the proof that needs to tell destiny proposals for tax reform.
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Extra resources for Federal Tax Policy and Charitable Giving (National Bureau of Economic Research Monograph)
Example text
2 percent of itemizers reached the limit on deductibility, and the value of gifts exceeding the limit was 6 percent of deductible contributions. The limit on contributions was most often exceeded in the highest income classes, with more than 4 percent of taxpayers with incomes over $500,000 reaching the limit. These nondeductible gifts exceeded 20 percent of giving in each of the three highest income categories. The table also suggests, however, that the usage of the carry-over allowed for such deductions over the limit roughly corresponds to the incidence of nondeductible contributions.
The Charitable Deduction, 191 7 In the debate that accompanied congressional action to add the charitable deduction in 1917, proponents of the change justified the deduction in large part because of its presumed incentive effect. Senator Hollis, the sponsor of the amendment, argued that rising income tax rates would hurt contributions by reducing the “surplus” out of which gifts are made: “we impose these very heavy taxes on incomes, [and] that will be the first place where these very wealthy men will be tempted to economize, namely, in donations to charity” (Congressional Record, 7 September 1917, p.
If contributions are deductible at a constant rate, the budget set swivels in a counterclockwise direction to hft causing contributions to increase under both preference assumptions. Although such a positively sloped budget set is conceivable, the remainder of this section is confined to the analysis of the usual negatively sloped budget sets. To sum up, helping behavior in the form of donations or charitable actions may be divided, roughly, into altruism, reciprocal helping, or strictly self-interested activity.