Fiscal Cliff! NOOOOOOOOO!

Received this email from “Americans for the Arts” today. Thought it was worth reposting. I think the bit about caps on charitable giving is actually related to rich people and companies using charitable giving as a tax loophole – instead of giving out of the kindness of their hearts – but I could be wrong. It’s worth noting that yes, it could pose some problems for non-profits, in the same way that trickle-down economics 1) doesn’t work and 2) poses problems for industry because “job creators” use their wealth as a threat to get what they want (ie, they refuse to let it “trickle down” if tax cuts aren’t implemented).
December 5, 2012
Dear L. Nicol:
As Congress and the White House consider various proposals to avoid the impending fiscal cliff scenario of more than $600 billion in federal spending cuts and tax increases for 2013, some have set their sights on limiting the deductions for charitable gifts and possibly even the status of nonprofit organizations as an answer.  In particular, we are deeply troubled by reports of proposals under consideration that would create an aggregate dollar limit or percentage cap for all itemized deductions as a potential short-term revenue solution during the lame duck session.

Over the past 18 months, Americans for the Arts has intensified its outreach to Congress on the detrimental impact that these policies would have on thousands of nonprofit organizations across the country and, more importantly, the communities and individuals that they serve.  In addition to lobbying on this issue during our own Arts Advocacy Day conferences for the last few years, we are actively working with Independent Sector and its diverse network of nonprofit organizations, ranging from American Cancer Society and YMCA to Catholic Charities and The Nature Conservancy. Together, we have lobbied dozens of congressional offices, sent letters (including one today) to the president, and ran ads in major political newspapers, with another new ad coming out this month.

Because of the importance of this issue, a new Charitable Giving Coalition has also emerged, in which Americans for the Arts is a member.  Today, December 5, hundreds of nonprofit groups will lobby together for “Protect Giving – DC Days.”  Americans for the Arts will be leading one of these delegations.  It doesn’t stop there.  We need our grassroots advocates to participate as well.
YOU can ensure that your voice of support for the arts and the nonprofit sector is heard by your congressional delegation as they consider these issues in this lame duck session. Take two minutes to send a customizable message to your members of Congress.

Help us continue this important work by becoming an official member of the Arts Action Fund. If you are not already a member, you can play your part by joining the Arts Action Fund today — it’s free and easy to join.

Also, I’m going to let John Green explain some of this economic crap for me.

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