Assume someone makes 50K and they want to give their entire 50K to charity. Do you think that person should be able to give 50K to charity and not pay tax or only 32.5K (50k x 35% tax rate) and have to pay 17.5K in tax?
Suppose that someone wants to donate their money to their friend, or to Walmart then. Why should they be penalized while somebody person who donates their salary to the Ku Klux Klan (a 501c3 organization) pays no taxes?
Suppose that someone wants to donate their money to their friend, or to Walmart then. Why should they be penalized while somebody person who donates their salary to the Ku Klux Klan (a 501c3 organization) pays no taxes?