Tax Code Revolution

[SuperScout]

In their continuing effort to raise money, I received a fancy, four-color hard paper brochure from one of the national charities. It contained all the usual blather and sob-stories, much of which doubtless was true. But then came the questions in my mind: how much do these organizations really take in each year, compared to how much they actually spend on their core group? What sort of other tax-free grants and other largess do they receive? How many thousands more organizations are there, just like this one, operating as a private, non-profit, i.e., 501c(3) entity?

What if the US Tax Code were amended so that so such tax-dodging apparatus was no longer available? Would Americans still give monies to these charities, churches, temples, etc.? What if all current 501c(3) organizations were to be taxed on the current wealth and current income? How much income would this generate on an annual basis?

BOTTOM LINE: Like it or not, we are forced indirectly to support some philanthropic endeavors that may run violently counter to our core belief system, but under the current tax code, there's not a blessed thing we can do, legally. If somebody could crunch the numbers, I'll wager we could eliminate the tax-free ride now offered to some, and lower or even eliminate the federal income taxes on individuals.