The conservative Republican commentator argues that capping charitable deductions, coupled with tax incentives for high investments that target long-term success, will improve the American Dream: "If
we must choose between keeping the charitable contributions deduction
as-is while raising taxes on potential growth creators or capping these
deductions while fostering growth-friendly tax rates, we must choose the
path of long-term growth. It is a difficult but necessary choice."
Mr. McAllister continues his commentary about charitable donations: "Americans who donate
resources at a high level must be encouraged to place as many tax-free
resources as possible into eradicating problems that cause long-term
poverty for many Americans in the 21st century: ongoing failures in our education system, an outlook of shortages of doctors and nurses, and an inability to innovate at the rate we previously had for decades. 'Economic
patriotism' cannot be defined as providing charitable contributions
while sitting on much-needed investment capital for growth, as we have
seen with some financial institutions and private entities since 2008. It must be defined with
an environment where re-strengthening America involves a thoughtful
direction of resources that fill the gap between struggling Americans
and their potential."
Lenny McAllister: "Limit Charitable Tax Deductions"
