Republican tax writers preserved the deduction for charitable donations in the reform that President Trump signed last week, but no economic mistake goes unpunished. Despite this political favor for charities, the philanthropy lobby is still trashing the tax bill. “The tax code is now poised to de-incentivize the heart of civic action in America,” Dan Cardinali, president of Independent Sector, a left-leaning lobby for philanthropic outfits, told the Washington Post. “It’s deeply disturbing.” The Post story includes a Festivus-worthy...

Source: Wall Street Journal December 25, 2017 21:22 UTC