Mike: Plan a charity bash
“An awful lot of charities” will suffer if President Obama is successful in limiting charitable tax deductions for the wealthy, Mayor Bloomberg said yesterday.
But the mayor also said that the super-rich who’ve pledged to give away their fortunes wouldn’t be affected.
“Most of the people who want to give it all away are going to give it all away regardless,” observed Bloomberg, who is in that select group.
“Reducing the deductions would not be good for an awful lot of charities. You may want to do it for other reasons, but I don’t think anyone would argue when they go out and solicit money, the fact that it is deductible is a help.”
The Chronicle of Philanthropy reported last week that Bloomberg donated $279 million to charities last year, more than any other American except financier George Soros.
Bloomberg also serves as chairman of the World Trade Center Memorial Foundation, where he’s done considerable fund-raising.
