Some argue the proposed British policy, now abandoned, was largely an unintended consequence of broader populist measures to clamp down on tax avoidance and boost government revenue. It has since been justified by ministers as a way to enhance equity by ensuring that even the richest pay some tax each year; and to prevent donations to fraudulent charities.
The reaction had been vociferous, with many leading charitable groups under the umbrella of the “Give it back, George” campaign warning that the policy would severely harm the non-profit sector.
A study the campaign commissioned estimated that up to £500 million in donations and nearly 19,000 jobs could have been affected if the measures had gone through, as wealthy donors who were able to contribute far beyond the proposed thresholds would have been restricted in their future ability to give.
In the United States, the reaction to Obama’s proposals has been aggressive, too. Pablo Eisenberg, a senior fellow at Georgetown University and a veteran commentator on the non-profit sector, says criticism from the super-rich, with backing from Republicans, has been matched by equally tough opposition from the beneficiaries of their donations.Page 2 of 5 | Prev Page | Next Page