We’re fairly harsh on our senior Senator to the US Senate and most of the time, we’re actively using the second part of one of our various mottos (“Spank’em when they’re wrong but thank’em when they’re right”) today.
While we generally want Government out of our lives to the furthest extent possible, Shaheen and other Progressive Socialists want the exact opposite; moving Government as close to micromanaging our lives as possible.
Sidenote: like in the Islamic hygienical jurisprudence, Qadaa’ al-Haajah.
But, Jeanne Shaheen did us all a solid this time and if we are to remain intellectually and politically honest, we have to say “thank you!” (reformatted, emphasis mine) :
“In recent years we’ve seen a consistent and growing trend in giving by foundations comprising a larger share of total giving than it did 15 years ago,” Amir Pasic, dean of the Lilly Family School of Philanthropy at Indiana University, said in a statement. “This change may reflect larger trends such as in the distribution of wealth and in asset growth across a decade of stock market expansion.” The boost in charitable giving comes as lawmakers have been contemplating expanding tax breaks for charitable donations after the 2017 tax overhaul curbed the availability of some of those deductions and the coronavirus pandemic has forced many nonprofits to cut staff and cancel fundraisers while need is growing.
Bernie Sanders is just fine with nonprofits (“charities”) going out of business completely. After all, in his brand of Socialism, only the Government should be doing “good works” in “caring” for us.
In March, lawmakers included a measure in the cornanvirus economic rescue bill that allows individuals to write off as much as $300 in donations for 2020 even if they don’t itemize their taxes. And there’s a bipartisan push from Senators Jeanne Shaheen, a New Hampshire Democrat, and James Lankford, an Oklahoma Republican, to make charitable deductions permanently available to all taxpayers. Generally, deductions for charitable contributions are only permitted for individuals who itemize their tax returns, or add up all their individual tax breaks, such as those for state and local taxes, mortgage interest and charitable giving. Only about 10% of taxpayers do this, with the rest taking the standard deduction, which is $12,400 for 2020.
The number of people who itemize their taxes has fallen in recent years, after the 2017 overhaul increased the standard deduction, meaning fewer people would have to itemize, a more complex way to file taxes. Extending the tax break to non-itemizers would mean more middle-income taxpayers would benefit from the tax break.
Giving should just be giving regardless of tax structures.
That said, people are of the nature to be incentivized. I’m also looking at this as lessening a revenue stream into Government coffers and heightening the ability of folks to direct such spending on their own needs, wants, and desires. I’m generally opposed to Government “nudging” behaviors but I’ll take that extra “financial freedom” (such as it is) any day.
So, thanks to Senator Shaheen. I don’t normally associate her with adding to the Founders’ vision that Freedom is an absence of Government interference, but I’ll take it any day.
(H/T: Union Leader)
