Soros emphasizes the price effect as opposed to the income effect of taxation. According to the price effect, if it costs you more to give you will give less to charity. If it costs you less to give, then you will give more. For example, with an estate facing the 55 percent marginal estate tax rate, every dollar given to charity only costs 45 cents, because 55 cents of each dollar are saved in taxes. And so the saga continues.
Family farmers weep.
Billionaires wag their fingers. Journalists wax eloquent. And George W. waits. Jim Grote is director of development for Boys Haven in Louisville, Kentucky. He is currently completing coursework for the CFP designation.