Birdwatch Note Rating
2024-11-26 02:49:23 UTC - NOT_HELPFUL
Rated by Participant: EFB53F2EFCED94313073AE291D345569A034A9D521655AA6166C66A2DECE11C2
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Original Note:
The $71 billion figure overstates the amount of religious income. The $71 billion is GROSS income, not net income. Churches have expenses. https://lawprofessors.typepad.com/nonprofit/2012/11/a-71-billion-tax-break-for-churches-no-way.html#:~:text=Dr.%20Cragun%20gets,on%20net%20income https://www.investopedia.com/ask/answers/101314/what-are-differences-between-gross-profit-and-net-income.asp Gifts generally don't count as income. https://lawprofessors.typepad.com/nonprofit/2012/11/a-71-billion-tax-break-for-churches-no-way.html#:~:text=Under%20current%20law,income%2C%20as%20well https://www.law.cornell.edu/uscode/text/26/102#:~:text=Gross%20income%20does%20not%20include%20the%20value%20of%20property%20acquired%20by%20gift%2C%20bequest%2C%20devise%2C%20or%20inheritance The property tax portion is inaccurate. https://lawprofessors.typepad.com/nonprofit/2012/11/a-71-billion-tax-break-for-churches-no-way.html#:~:text=the%20largest%20chunk,is%20pure%20speculation
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