Philanthropists give for many different reasons, but bequests could decline by about $7 billion a year.
Congress changed the tax system to benefit companies with overseas operations but failed to help Americans actually living abroad, who still face punitive taxation.
The lost incentives to give are likely to make a bigger difference than the small uptick in economic growth expected from the new law.
The party’s promise to be all things to all people has hit a wall.
New York, California and other high-tax states are angling to use the charitable deduction and state payroll taxes as workarounds to shield both their residents and their revenue.
Historically, wishful thinking has blunted pushback.
Giving could decline by $21 billion or more per year.
Alaska and oil proponents are cheering a move to open up an ecologically sensitive part of the Arctic National Wildlife Refuge to drilling – a position environment supporters can’t abide.
The American middle class has been on a rocky ride during the 20th century, surging after World War II but falling since the 1980s. The Republican tax plan may be its death knell.
Republicans were able to push through a tax plan and a flurry of judicial nominees after the Senate curtailed use of the filibuster. It’s time to go all the way.
As the GOP prepares to slash spending to pay for tax cuts, lawmakers have been bringing up claims about the poor that don’t stand up to scrutiny.
While much has been written about why the GOP’s tax plan would exacerbate income inequality, there are two reasons it’s even worse than you think.
The tax bill that just cleared the Senate contains sweeping changes to nearly every facet of American life.
Universities play a vital role in promoting economic growth, something the writers of the Republican tax plan have apparently forgotten.