NYT: In Hurricane Tax Package, a Boon for Wealthy Donors

[RamboLiberal]

http://www.nytimes.com/2005/10/27/national/nationalspecial/27tax.html?hp&ex=1130385600&en=089b06778db31ba7&ei=5094&partner=homepage

A little-noted provision in the tax relief package to aid victims of Hurricane Katrina is shaping up as a windfall for charity and a drain on government coffers.

It allows donors who make cash gifts to almost any charity by the end of this year to deduct an amount equal to virtually 100 percent of their adjusted gross incomes, double the normal limit of 50 percent of income. The tantalizing prospect has set off a financial scramble among some wealthy donors and charities vying for their dollars.

"I just keep thinking there's got to be a catch, they can't really be doing this," said C. Kemmons Wilson Jr., a Memphis businessman whose father was the founder of Holiday Inns Inc.

Mr. Wilson said that he and his siblings gave away several million dollars a year and that the amount could double this year because of the provision. "How many sales does the government have?" he said. "This is a big sale, and you bet I'm going to go."

[Erika]

1. More cuts to the needy and the Vets

to pay for a tax dodge by the wealthy, served to you via the W.

[DeepModem Mom]

2. kick

[WCGreen]

3. If it goes to reputable charities...

It is a good thing...

The money would go directly toward helping those in need instead of having to go to washington and then come back....

There is, however, much room for Titanic amounts of thievery...

[highplainsdem]

4. Remember that FEMA's promoting Pat Robertson's charity

[UrbScotty]

5. I'm shocked! This is so unlike Bush&Co.

:sarcasm:

[Polemonium]

6. yeee haw lets bankrupt the government

Over-rated government programs. The National Park Service, the Environmental Protection agency - hell what am I saying the entire Department of Interior. The NEA, HUD, hell any program that assists Americans who need assistance, the department of Education, the department of Agriculture, ok anything that can not be farmed out in a no bid contract to Halliburton et al. Good grief :puke: :puke: :puke: