Some professors at Yale Law School have a cunning plan:
Yale Law School professors Daniel Markovits ’00 and Jacob Hacker, along with Cornell law professor Robert Hockett ’03 LLM ’06 JSD, are encouraging Americans to give back the tax cuts just approved by Congress by making donations to organizations that “promote fairness, economic growth, and a vibrant middle class.”
The website they’ve created, GiveItBackforJobs.com, enables visitors to the site to calculate what their tax cut would be, choose a charity, and donate their tax cut amount to that charity.
“The goal of the website is to provide a way for ordinary Americans to put their money where their mouth is and help individuals and organizations who will be harmed by the recent vote to extend the tax cuts,” say the professors. “Donors can pledge their money to support the kinds of programs that will help families, create jobs, and set the country moving toward a just prosperity.”
What's interesting about this apporach is that the charities that come up on the site are Habitat for Humanity, Children's Aid Society, Salvation Army, and Nurse Family Partnership. They are all worthy charities, but they do nothing for the entity most harmed by the tax cuts: the government.
This effort, which is pretty clearly against the tax cuts, pays them the ultimate if unintended compliment by implicitly assuming that the charities, rather than the government, will make better use of the money they collect. But if you really philosophically oppose the tax cuts, you can calculate your tax savings there and then write your check to the Bureau of the Public Debt.
For myself, I intend to use some of my savings to create private-sector employment by saving some of it for future consumption, while using the rest to create jobs by buying useful things from somebody to make life more pleasant for me and my family.
The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to