By Randall G. Holcombe

ISBN-10: 0765800136

ISBN-13: 9780765800138

Within the 20th century, tax-exempt foundations have grown considerably, either of their monetary significance and within the scope in their actions. This demanding publication examines the industrial, cultural and highbrow implications of tax-exempt companies. How do a variety of tax legislation impact foundations and what forms of rules do foundations produce? How do the actions of foundations relate to the pursuits and intentions in their founders? Does the industrial administration of beginning resources serve the general public solid, or may such resources be larger hired during the inner most quarter? round the flip of the century, people who had accrued sizeable wealth desired to direct a few of it towards actions that might additional the general public curiosity. Their person causes could have diverse. John D. Rockefeller used to be attracted to deflecting public feedback through the use of his wealth to additional the general public curiosity. James B. Duke, who endowed Trinity university in North Carolina, desired to enshrine his relatives identify. How good do the rules' actions fit the intents in their founders? Writing Off principles examines those and similar questions essentially through taking a look at particular examples in addition to the final effect of origin practices economically and socially. Non-profit foundations have grown simply because contributions to them are tax-deductible. Federal property taxes have been validated in 1916, and rose to as excessive as 25 percentage (on estates over $10 million) in the course of international warfare I. the pinnacle fee used to be elevated to 70 percentage (on estates over $50 million) in 1935. starting in 1942, the pinnacle price was once raised to seventy seven percentage on estates over $10 million, the place it remained for many years. the pinnacle cost is now fifty five percentage for estates over $3 million. Does the tax legislations create firms protected from fiscal realities and actual social wishes, generating a self-indulgent, philanthropic culture that regularly squanders assets, fosters questionable ideologies, and launches silly, fashionable crusades? What will be the impression of the flat tax, aid or abolition of property taxes, or proposals to alter or mandate the quantity given away every year? those concerns are major. a wide and accelerating percent of wealth is being positioned into foundations for tax reasons, and the expenditure of such wealth via non-profit companies could or is probably not socially valuable. Writing Off principles presents a complete exploration of this significant quarter of yank Society. An self reliant Institute e-book

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The irony that this study, done for the Independent Institute, might be subject to many of the criticisms that the book makes about foundation-sponsored research has not escaped me. Surely they had good reasons for asking me (rather than someone else) to do this study, but if the study appears to be biased in any way, I can assure the reader that those are my biases and the study's conclusions are my conclusions. I did not work in a vacuum, however, and along the way I have received comments and advice from a number of readers.

Furthermore, foundations tend to operate by giving grants to individuals or other organizations rather than operating programs of their own. F. "10 The purpose of this section is not to try to supply an authoritative definition of the term foundation, but rather to identify those characteristics of foundations that are of interest for this study. The definition supplied by Andrews does a good job of identifying those characteristics. The nonprofit aspect of foundations is important because nonprofit status confers tax benefits, and foundations must comply with the federal regulations involved in maintaining their nonprofit status.

Spring State University of New York Old Westbury Richard L. Stroup Montana State University Thomas S. Szasz State U. of New York, Syracuse Robert D. Tollison University of Mississippi Arnold S. Trebach American University Gordon Tullock George Mason University Richard E. Wagner George Mason University Sir Alan A. Walters AIG Trading Corporation Carolyn L. Weaver American Enterprise Institute Walter E. A. org Page vii Contents Preface ix 1. Introduction 1 2. The Origins and Development of Foundations 25 3.

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Writing off ideas: taxation, foundations, and philanthropy in America by Randall G. Holcombe

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