By Michael King
Let’s be honest about the “fiscal cliff” and the faulty logic that claims that charitable tax deduction is a benefit for the wealthy that won’t be missed. Political leaders touting this bromide are justifying proposals to redirect these dollars away from important work happening in communities nationwide.
Congress is seriously considering caps or cuts to the charitable deduction. The potential result—millions served by America’s nonprofit sector will be hit with the double whammy of government cutbacks and decline in the support of organizations like Volunteers of America, American Red Cross, the Salvation Army, the Boys & Girls Clubs and the American Cancer Society.