This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Survey Shows Americans Want Charitable Deduction Protected As Congressional Hearings Begin

DALLAS, Feb. 12, 2013 /PRNewswire/ --  With the House of Representatives set to hold hearings Thursday on the future of the charitable tax deduction, Americans say they strongly oppose capping or cutting the deduction to help solve the debt crisis facing the country, according to a Dunham+Company national study conducted by Wilson Perkins Allen Opinion Research. 

Seventy-five percent of Americans continue to say they value the deduction as it currently stands. And 61 percent say they feel strongly about maintaining the current deduction, up from 56 percent in January 2012.  Only 9 percent strongly disagree, which is up from 5 percent a year ago.

The strength of support for protecting the charitable tax deduction cuts across geographic boundaries, with 70 percent of those in the Northeast and West supporting it, 76 percent in the Midwest and a high of 80 percent in the South.

In addition, key groups of President Obama's 2012 coalition strongly agreed that "charitable deductions should not be cut, capped or limited."  The key groups were women (58 percent), adults 18-34 (56), Hispanics (65) and people making at least $50,000 a year and less than $75,000 (67).

This support for the charitable deduction goes even further, as only 20 percent of Americans believe cutting or capping the deduction is vital to solving the debt crisis.  The survey showed that no group of Americans wants to cap or cut the deduction as a way to solve the debt crisis, with the lack of support apparent in President Obama's 2012 coalition women (20 percent), adults 18-34 (30), Hispanics (26) and people making at least $50,000 a year and less than $75,000 (17).

"The support for protecting the charitable tax deduction among the American public continues to be exceptionally strong," said Rick Dunham, President and CEO of Dunham+Company, a company that specializes in nonprofit marketing and fundraising.  "Regardless of household income, education, age, race, or gender, Americans do not want the deduction to be hurt in any way as Congress and the administration debate how best to deal with our national debt crisis."

Nearly 6 out of 10 (59 percent) of respondents to the survey said they believed that capping or eliminating the deduction will cause a drop in donations.  According to Giving USA, which is the longest running and most reliable report on the sources and uses of giving in America, charitable giving is in uncharted waters, having gone through its single greatest historical decline from 2007-2009 (an approximate $30 billion drop), and still continues $13 billion down as of 2011, the latest data available from this report.  The prospects for recovery are bleak as another report, the Blackbaud Charitable Giving Report, which is based on overall giving data from 3,144 charities across America, indicates that for 2012 there was only a 1.7 percent increase in giving, and this is against inflation of 2.1 percent, which means there was no real growth in charitable support.

The Dunham+Company study was part of Wilson Perkins Allen Opinion Research's January Omnibus Study of 1,000 adults nationwide. All respondents were contacted via Random Digit Dialing methodology.  Interviews were conducted via live telephone interview Jan. 10-13, 2013.  A sample of 1,000 has a margin of error of plus or minus 3.1 percent at the 95 percent confidence level.

Please visit http://www.dunhamandcompany.com for more information on the survey.

FOR INFORMATION, CONTACT: Steve Yount 972.267.1111, X 205 steve@alarryross.com

SOURCE Dunham+Company

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs