Proposal would change the way charity is given - gainesvilletimes.com

Proposal would change the way charity is given - gainesvilletimes.com: "Proposal would change the way charity is given
Whalen offers idea to withhold agreed amounts from paychecks

By ALMA BOWEN
The Times
Gus Whalen
An idea that originated in Gainesville may change the federal tax code, spread good will across the country and increase charitable giving.

Gus Whalen suggested the idea, and Rep. Nathan Deal introduced it in the U.S. House. Put simply, it proposes that donations for charitable organizations be withheld from salaries before taxes.

Gus Whalen said it would democratize philanthropy, comparing it to a 401K that employees use to save for retirement.

Funds for a 401K are voluntarily withheld from a salary before taxes and put in a retirement account. Employers can match all or some of the employee contribution, and taxes are paid on the money as it is withdrawn from the retirement fund."