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Americans intuitively understand the value of the charitable tax deduction, and without tax incentives for charitable contributions, 30 percent of Americans would reduce their giving levels.
This was among the findings of a poll released this week by United Way Worldwide, Alexandria, Va. Among the results:
• 79 percent of Americans believe reducing or eliminating the charitable tax deduction would have a negative impact on charities and the people they serve.
• Of those who would reduce their giving, 62 percent indicate they would have to reduce their contributions by a significant amount; 26 percent would reduce by 50 percent or more; 36 percent by 25-50 percent.
• 67 percent are opposed to reducing or eliminating the charitable tax deduction.
• The percent of people indicating they use the charitable deduction is the same for households with incomes between $50-$100K; $100-$150K; and $150K and more.
United Way Worldwide conducted the Charitable Tax Deduction Poll from Nov. 9-20. The study was based on phone interviews of 2,000 adults, age 18 and older, with a margin of error of +/-2.2% at the 95% confidence level. It is a representative sample of the U.S. adult population. Details: www.unitedway.org.