Elsewhere online
February 01, 2013

Payroll-Tax Increase Will Take Bite Out of Giving, Survey Says

One in five of respondents to a poll commissioned by a global children's charity said they plan to curtail charitable donations this year by an average of 29 percent as a result of the payroll-tax increase implemented as part of the government's fiscal-cliff deal, says Reuters.

About 21 percent of respondents say they don't plan to give at all this year, according to the online survey of 1,012 U.S. adults conducted in mid-January by Ipsos Public Affairs for the aid group ChildFund International.

Most U.S. workers are getting less take-home pay as a result of the 2 percentage-point hike in the payroll tax, to 6.2 percent, which took effect with the sealing of the budget deal on January 1. Fifty-four percent of the those polled said the increase will not affect their giving.