In an attempt to close tax loopholes for the super-rich, the British government proposed a tax-relief cap on large donations. Museums argue that this will greatly discourage large charitable donations, especially for new building projects, hugely hampering a museums ability operate and improve.
Museums largely rely on big donations during constructions projects, and anything over £50K will now have a much lower tax benefit for the donor. Some museums report donors are already threatening to pull out of large projects...take a look.
http://www.theartnewspaper.com/articles/Tax-relief-cap-will-curtail-major-gifts/26361
I have to say, this is a side of the "tax-loophole for the rich" argument that I suppose I hadn't thought of. Would the same thing happen to our museums if we stopped the loopholes that the occupy movement has targeted? Are there other repercussions we aren't thinking of other than simply "making the rich pay their fair share?"
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