this post was submitted on 13 Mar 2024
736 points (96.5% liked)
Science Memes
10988 readers
2012 users here now
Welcome to c/science_memes @ Mander.xyz!
A place for majestic STEMLORD peacocking, as well as memes about the realities of working in a lab.
Rules
- Don't throw mud. Behave like an intellectual and remember the human.
- Keep it rooted (on topic).
- No spam.
- Infographics welcome, get schooled.
This is a science community. We use the Dawkins definition of meme.
Research Committee
Other Mander Communities
Science and Research
Biology and Life Sciences
- !abiogenesis@mander.xyz
- !animal-behavior@mander.xyz
- !anthropology@mander.xyz
- !arachnology@mander.xyz
- !balconygardening@slrpnk.net
- !biodiversity@mander.xyz
- !biology@mander.xyz
- !biophysics@mander.xyz
- !botany@mander.xyz
- !ecology@mander.xyz
- !entomology@mander.xyz
- !fermentation@mander.xyz
- !herpetology@mander.xyz
- !houseplants@mander.xyz
- !medicine@mander.xyz
- !microscopy@mander.xyz
- !mycology@mander.xyz
- !nudibranchs@mander.xyz
- !nutrition@mander.xyz
- !palaeoecology@mander.xyz
- !palaeontology@mander.xyz
- !photosynthesis@mander.xyz
- !plantid@mander.xyz
- !plants@mander.xyz
- !reptiles and amphibians@mander.xyz
Physical Sciences
- !astronomy@mander.xyz
- !chemistry@mander.xyz
- !earthscience@mander.xyz
- !geography@mander.xyz
- !geospatial@mander.xyz
- !nuclear@mander.xyz
- !physics@mander.xyz
- !quantum-computing@mander.xyz
- !spectroscopy@mander.xyz
Humanities and Social Sciences
Practical and Applied Sciences
- !exercise-and sports-science@mander.xyz
- !gardening@mander.xyz
- !self sufficiency@mander.xyz
- !soilscience@slrpnk.net
- !terrariums@mander.xyz
- !timelapse@mander.xyz
Memes
Miscellaneous
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The part where he "gets to keep more of it."
$1 in charitable contributions does not lower your tax burden by $1, and certainly not more than $1.
If that dollar would have been taxed as capital gains, assuming 20% capital gains and 3.8% NII tax, it saves 23.8 cents meaning the $1 donation costs 76.2 cents.
If that dollar would have been taxed as normal income, assuming a marginal tax rate of 37%, it saves 37 cents meaning the $1 donation costs 63 cents.
(These two examples are not intended to be an exhaustive list.)
Charitable contributions cost money, just not as much money as they would if there wasn't a tax deduction.