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."