A network of associated nonprofits – most of which count co-founder Jonathan Ben-Dor as an officer – allow tax deductions on donations to Israeli nonprofits for residents of the US, Canada, the EU, the UK and Australia. It also runs a donor-advised fund, a kind of nonprofit entity which have been widely criticized for, among other things, concealing flows of “dark money” to rightwing causes.
It’s tax deductible so no loss of money to them, everyone else just gets proportionally less out of their tax dollars because American politicians won’t hold Israel to the same standard
Legal experts say that some of these campaigns may be illegal under US tax law, but that this is rarely enforced on donors to Israeli causes.
I really hope you’re quoting George and everyone one else is taking you serious.
He was just really really well written, and I’m not even a Seinfeld fan. There’s not many 90s sitcom lines that would still pass for a normal exchange 30 years later.
Too bad it made you sound like George Costanaza lol
For real, though. If the top-end of someone’s income is in the 28% tax bracket, and they donate $1000 to a qualified charity, then they get back the 28% tax they paid on that $1000, which is $280. They still donated $720 of their own money.
I say “their own money” because you could argue that the $280 is “America’s” money, but it’s not. The person donating the $1000 effectively never earned that money. Giving to charity is like redirecting your pre-tax income to the charity, so you don’t get taxed on it since it’s now the charity’s money, and the charity doesn’t pay income tax. The $280 was money that the government had withheld because they didn’t yet know you were redirecting that income to charity.
Also, it’s not cool to try to insult someone just because they criticized your comment. You need to keep an open mind. Especially since you were, in fact, wrong. You should only insult someone for being an asshole, or greedy, or racist, or a Trump supporter, etc., and not make yourself look like an idiot by assuming someone who points out your obvious error is a Trump supporter.
They’re not just giving their money…
It’s tax deductible so no loss of money to them, everyone else just gets proportionally less out of their tax dollars because American politicians won’t hold Israel to the same standard
Tax deductible doesn’t mean it costs you nothing.
They just write it off, Jerry
I don’t think you even know what that means
No, I don’t. Do you??
I don’t need to. they are the ones writing it off.
…close enough
I really hope you’re quoting George and everyone one else is taking you serious.
He was just really really well written, and I’m not even a Seinfeld fan. There’s not many 90s sitcom lines that would still pass for a normal exchange 30 years later.
Too bad it made you sound like George Costanaza lol
it’s Kramer. But you are more or less spot on.
Happy Christmas bud!
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That’s not what tax deductible means
It’s ok, you can just say you don’t know what tax deductible actually means
Go back to defending trump running for president.
I’ll go back to blocking people who think they’re smart. Big overlap with trump supporters for some reason
I have literally never defended trumps removed ass lol.
For real, though. If the top-end of someone’s income is in the 28% tax bracket, and they donate $1000 to a qualified charity, then they get back the 28% tax they paid on that $1000, which is $280. They still donated $720 of their own money.
I say “their own money” because you could argue that the $280 is “America’s” money, but it’s not. The person donating the $1000 effectively never earned that money. Giving to charity is like redirecting your pre-tax income to the charity, so you don’t get taxed on it since it’s now the charity’s money, and the charity doesn’t pay income tax. The $280 was money that the government had withheld because they didn’t yet know you were redirecting that income to charity.
Also, it’s not cool to try to insult someone just because they criticized your comment. You need to keep an open mind. Especially since you were, in fact, wrong. You should only insult someone for being an asshole, or greedy, or racist, or a Trump supporter, etc., and not make yourself look like an idiot by assuming someone who points out your obvious error is a Trump supporter.