ATLANTA, Dec. 26, 2012 /PRNewswire-USNewswire/ -- As talks of final negotiations over the fiscal cliff dominate the news, Crown Financial Ministries CEO Chuck Bentley says that some things should not be on the table. Writing for a national newspaper this week, Bentley noted, "A fundamental misunderstanding of the Robin Hood legend in the current discussion of tax policy undergirds a mistaken idea, too rarely evaluated -- that hurting the 'rich' helps the 'poor.' Right now, this is played out specifically in proposals to reduce tax deductions for charitable giving."
But it will not be the rich who suffer if their monies go to Uncle Sam and not their local food banks or other front-line organizations serving the poor. Most importantly, discouraging people from charitable giving would put at risk the $300 billion donated to nonprofits each year.
Bentley observed, "America has unwisely spent more money than it takes in and failed to address the reality that political promises come with a steep price tag. A budget crisis exists and it needs to be solved. But it will not be the 'rich' who suffer if the charitable giving deduction is ended. It will be those most vulnerable who will lose the blessings of help provided through the private sector. This is no Robin Hood plan; it will take from the rich and the poor alike."
Even politically speaking, this is a mistake. Three out of four Americans do not favor cutting, capping or limiting the charitable tax deduction, according to a survey by Dunham+Company, a consultant group to charities. And it is not just about assistance for the poor. At stake are jobs created through the generosity of Americans.
"It's important to remember that 1 out of 10 jobs in America come from the charitable sector," said Rick Dunham, President and CEO of Dunham+Company. "And that charities are much more efficient in delivering social good as independent studies have shown that 70 cents of every dollar goes to recipients of charitable services compared to only 30 cents of every dollar from the government."
For almost 100 years, America has encouraged generosity through its tax policy. As a result, Americans became the most charitable givers in the world.
In its second annual study of 153 countries, the Charity Aid Foundation concluded that the U.S. has demonstrated "strong" behavior across all three criteria measured -- volunteering, helping strangers and donating money.
"Perhaps the tax break didn't cause acts of good will – but it didn't hurt," said Bentley.
Charitable giving requires thoughtful planning, through tools like MoneyLife, and a genuine compassion for others. Bentley concluded, "Discouraging charitable giving in this stagnant economy would be a mistake."
Crown, a non-profit, helps people and businesses integrate their values into business practices, debt reduction, and financial decision-making. For more than 35 years, Crown has been offering economic analysis and advice based on timeless truths. Theirs is a strong, international grassroots organization with offices in the U.S. and overseas. Crown experts work one on one with individuals and business leaders, as well as through workshops and seminars, teaching people how to build on a strong foundation that includes the business principles and practices found in the Bible. It is well known for its cutting edge materials first developed by its founder, the late Larry Burkett. For more information, go to www.crown.org or call 800-722-1976.
Contact: Kristi Hamrick, firstname.lastname@example.org
SOURCE Crown Financial Ministries