Sunday, February 27, 2011
Would Change In Tax Law Kill Donations To The Arts?
NPR: "Americans can be awfully generous: The Giving USA foundation estimates that in 2009, more than $300 billion in charitable contributions were made by corporations, individuals and foundations. The money went to a range of nonprofits working in the environment, education, health care and the arts.
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3 comments:
it's a shame to know that the arts are going to suffer along with the economy. the general attitude towards arts typically improves when times are hard because people look for escapes from their modern day drone but when even the rich are hurting and the people who keep artists employed no longer have a chance to do so. the prospects of losing tax incentives and art grants has been lingering around for the past few months and in recent weeks is starting to become reality for many states and it is a necessary loss for many states which are attempting to fight a rising deficit.
It's really upsetting to see just another way that the government is screwing the arts over. This proposed tax deduction limit essentially discourages donors from donated more than their limit-which means arts will still get donations, but in smaller amounts. I do believe that most who donate large amounts do not donate for the tax incentive, as the article states. But at the same time, I could definitely see them donating less because the incentive will be curtailed. While the arts are still widely supported by donors and patrons, and people are still flooding into theaters, the arts are getting hit from the other direction and losing their government support. This is another sign that the times are going to continue to get worse for the arts communities of America.
So now the government is going to cut what little funding they give to the arts and then they are going to minimize the incentives for charitable donations? Of course people aren't going to say they are doing it for the tax break, but some of them, especially corporations are. Let's be realistic about the situation. Now, arts funding though donations is how our country operates. It was all started by the Ford Foundation back in the day (I think it was them...) And then the tax laws developed around that.
I am not in favor of making it easier for the wealthy to save / make more money, but don't level the playing field by penalizing the organizations that depend on it.
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