Anecdote: charitable giving in wills has disappeared.

[AP]

My new church announced recently that they are in huge debt because they usually receive about 120,000 a year in charitable giving in members' wills when they die and when they establish their budget they do so expecting to receive at least part of that total.

This year, with about two months to go, they have received ZERO. Not a single dollar has come to them from wills.

They joked that they guess they're lucky that none of the members have died this year.

Well, the truth is probably that people aren't dying with money, or they're giving it to their own relatives who are probably in desperate need of charity themselves.

This is part of the problem of living in a debt culture. When you die and you have to balance the books, you're going to find that you don't have money.

Incidentally, the drug and health care industries have been having record years the last five. Hmm. Wonder where they're getting their money? Could it be from all those senior citizens who didn't grow up in a debt culture and retired with money but died this year with none.

[aquart]

1. Could that be a reason the churches have gone political?

They no longer have the independence that inherited wealth brings?

[AP]

2. If the middle class disappears and churches can't get money any other way

they'll have to rely on Faith Based Initiatives.

[Tanuki]

3. death and taxes

With the changes in estate taxes, people have less incentive to bequeath to charities. This was previously seen by many as a tax shelter. It is going to hurt non-profits of every kind.

[oneighty]

4. One reason is

federal money for religious organizations. Why give when Uncle Sam is doing it for you?

I believe a lot of people resent that.

180

[renegade000]

5. all part of the new "ownership society"

eom

[Warpy]

6. They're not giving because the inheritance tax has been removed

and there is no reason to give the taxable portion of the legacy to anyone but offspring. That was the predicted result of Bush's giveaway to the children of the extremely wealthy, and that prediction is coming true.

Foundations, universities, charities and churches will all find themselves scrambling for donations to try to make up some of the shortfall.

The last place they should look is the children of the super rich. Trust me, they won't give up a dime.

[AP]

7. Right. It doesn't kick in until what? 700K now? It's capturing fewer...

...people.