I would like to encourage everyone of large or small means to donate as much as you can to charities that you trust. If you are extremely wealthy this might involve some help from a tax lawyer but please begin planning now. Well run charities do a lot to help many people in need. In addition, as the tax laws are written today, you are able to make tax free donations to charity (The government doesn't take it's usual cut since charitable donations are deductible.)
It's important to plan ahead if you are going to be donating large amounts of money though because Obama has made it clear that he intends to tax donations. Why? Well because people who want to donate money to charity to help people are usually the same people who don't really trust the government to run social programs that compete with the charities. Government greed is a major factor. More money given to charity means less tax revenue to the corrupt government officials. Plan ahead. Set up trusts, foundations, etc. Bill Gates understands this. He wants to help the people of the world and puts Billions of Dollars into his foundations (tax free) to actually help people vs. funding a wasteful government that is unwilling and unable to do the same.
In summary, give freely to charity. It's a win win. Less tax money for the government to waste and you actually get to help people as well.
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