How do you feel about charitable contributions?
I have tried to stay out of the political mumbo jumbo this time around, but as many of you know, I just can't seem to help myself!
So how do you feel about charitable contributions? Do you think that people should give out of the goodness of their hearts? Do you think that people do give without having to? If there were no taxes to force us to, would you give to charitable causes? Do you?
The Bible talks about this several times. One of my favorites is in Matthew: From whom do the kings of the earth collect duty and taxes - From their own sons or from others? (For the whole story, see Matthew 17:24-25.)
A radio talk show host recently compared the two presidential candidates in regards to their charitable contributions. I was skeptical so I did my own research. Here's what I found out.
John McCain
Information found at http://www.johnmccain.com/mccainfinancial/
Senator McCain donates his royalties from his books to charitable organizations. This sum has totaled over $1,800,000 since 1998 when he signed his first book deal. Senator McCain's book income of $256,898 for 2006 and 2007 is comprised of earnings for Faith of My Fathers, Worth the Fighting For, Why Courage Matters, Character is Destiny, and Hard Call.
Beginning in 1991, Senator McCain has also donated the increase in his Senate salary for that year and each subsequent year to charity because he opposed the Congressional pay increase at that time and pledged not to accept the pay raises. The cumulative total of these donations is over $450,000.
2006
In 2006, Senator and Mrs. McCain donated $129,390 from community assets to charity, of which Senator McCain's one-half allocation was $64,695. This is 19% of his adjusted gross income.
2007
In 2007, Senator and Mrs. McCain donated $210,933 from community assets to charity, of which Senator McCain's one-half allocation is $105,467. This is 27.2% of his adjusted gross income for the year.
Barack Obama
Information found at http://taxprof.typepad.com/taxprof_blog/2008/04/obama-releases.html (I'm sure this information is on his website but I couldn't find it.)
2007
AGI (adjusted gross income): $4,139,965
Taxes paid: $1,396,772
Tax/ AGI: 33.7%
Charitable gifts: $240,370
Gifts/ AGI: 5.8%
2006
AGI: $983,826
Taxes paid: $277,481
Tax/ AGI: 28.2%
Charitable gifts: $60,307
Gifts/ AGI: 6.1%
2005
AGI: $1,655,106
Taxes paid: $545,614
Tax/ AGI: 33.0%
Charitable gifts: $77,315
Gifts/ AGI: 4.7%
2004
AGI: $207,647
Taxes paid: $40,426
Tax/ AGI: 19.5%
Charitable gifts: $2,500
Gifts/ AGI: 1.2%
2003
Gifts/ AGI: 1.4%
2002
Gifts/ AGI: 0.4%
2001
Gifts/ AGI: 0.5%
2000
Gifts/ AGI: 1.0%
I guess if I didn't give on my own I'd be in favor of higher taxes too.
4 comments:
Thank you so much for posting. Of course this kind of information isn't going to be made too "mainstream". Because that would not go very well with the idea of Obama being for the "little guy" and from the party of compassion. It also doesn't fit the idea of McCain coming from the evil money-hungry right wing GOP. Hey...my site is up. It's completely goofy and not much substance, but...check 'er out.
Hi hon - Great stuff! I would like you to take a test though.....
There are only 4 possible ways to spend money:
1) I spend my $$ on me.
2) I spend my $$ on someone else.
3) I spend someone else's money on me.
4) I spend someone else's $$ on someone else.
The test is just two questions- Question 1: which is the most efficient?
Answer, in the order of most efficient to least:
1) I know how much money I have, and what I think it is worth spending on say - a book. I know what I have to give up in order to get said book.
2) I know how much money I have, and I think I know of a book you might like and I do know how much I am willing to spend.
3) I know what book I like, what I think it may be worth but not a clear idea of what someone else may be willing to spend on my book.
4) I have no idea what book someone else may want, or any idea of how much they think it is worth or are willing to spend on it. This is like giving Tristan my money to buy a book for Al Gore.
Question 2 - Which way does the government spend money?
To Anonymous: LOVE your comment, thanks! Who are you???
I am so proud of you for putting yourself out there and telling your views. Good job, babe!
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