Posted on 09/21/2012 2:19:07 PM PDT by Southnsoul
Republican presidential nominee Mitt Romney was far more generous to charities than President Barack Obama or Vice President Joe Biden last year, both in dollar terms and as a percentage of income, tax return data Romneys campaign released Friday indicate.
Romney and his wife, Ann, gave 29.4 percent of their income to charity in 2011, donating $4,020,772 out of the $13,696,951 they took in.
Obama and first lady Michelle Obama gave 21.8 percent of their income to charitable organizations last year, donating $172,130 out of the $789,674 they made.
Biden and his wife, Jill, gave 1.5 percent of their income away in 2011, with charitable donations totaling $5,540 out of $379,035.
Republicans have mocked Obama and especially Biden for being unusually tight-fisted when it comes to making charitable gifts.
When the Obama campaign released past tax returns for Biden in 2008, it was revealed that the Bidens donated just $3,690 to charity over 10 years an average of $369 a year.
(Excerpt) Read more at politico.com ...
In general IRS doesn"t care what your intention is ~ so just about all the charitable donations are counted as charitable donations to the giver ~ at the same time the receiving organization may have to consider them unreleated business income and subject to the applicable tax (see ubit ~ marvelous night time reading)
However, my question is about the status of an otherwise charitable contribution that entitles the giver to downstream monetary benefit ~ like insurance ~ that is, a benefit inures to the individual making the gift.
In general IRS doesn"t care what your intention is ~ so just about all the charitable donations are counted as charitable donations to the giver ~ at the same time the receiving organization may have to consider them unreleated business income and subject to the applicable tax (see ubit ~ marvelous night time reading)
However, my question is about the status of an otherwise charitable contribution that entitles the giver to downstream monetary benefit ~ like insurance ~ that is, a benefit inures to the individual making the gift.
In Mormonism the tithe is required to go to the best heaven, and to become a God, and even to enter those temples that we see.
To be a temple Mormon you must go under examination every two years and one of the things being verified is that you are giving them at least 10% of your income, if so, and you retain your temple status, then you are issued an ID card which must be renewed every year, along with the interviews with the Bishop every 2 years.
Catholics don’t have that.
Muawiyah = Obama Troll. Enemy in our camp. Beware, never to be trusted. Do not engage.
What is it you are hiding?
Not really read some of the Comments on Politico! Sickening.
Everyone knows your game. Tell Chicago your cover is blown and you need another. Muawiyah = Obama Troll. Enemy in our camp. Beware, never to be trusted. Do not engage.
No, but the Catholic church helps out businesses who use illegal alien labor who also make donations by campaigning for amnesty or clemency for illegals, as well as attending to the material needs of illegals to keep them able to work in the country.
Saw it all the time in California.
I’m glad you accept post 23 as accurate.
Much of Mitt’s “donations” are required and verified, not voluntary for someone to become a God.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.