A study released this week by Bank of America and conducted by the Center on Philanthropy shows 47 percent of affluent households say they would give less if their tax deductions for charitable giving were eliminated, though 52 percent said it wouldn't matter.
Recall that during her 80th birthday celebration poet Maya Angelou made the statement " Any corporation that donates money to charitable organizations for the sake of receiving a tax credit has NOT done a charitable act. Charity is the giving of your excess to another person for the benefit of sharing your wealth with them".
It appears that the Obama Administration, seeking to take away this tax deduction is about to put this to the test.
(Note: I agreed with Ms. Angelou but added a complementary statement to bear out this entire truth:
A government official who promotes social entitlements for the benefit of the poor making use of TAXES that are CONFISCATED FROM PRIVATE INDIVIDUALS without any voluntary element of their own choosing has NOT executed a charitable act either because one has no choice in paying their taxes.)