Trump’s Tax Proposals and Mormons

It occurred to me this morning that Trump’s tax plan, if it passed in its current form, would impact many middle- (and some high-) income U.S. Mormons.[fn1] I mean, it would affect U.S. taxpayers in general, but it would have a particular effect on the deductibility of tithing.

The church cares about deductibility. In 2011, Elder Oaks gave testimony to the Senate Finance Committee that the charitable deduction is vital to the nation’s welfare.

And why might that be? Basically, because it reduces the cost of charitable giving, at least for taxpayers who itemize their deductions (more on that in a minute). For example, imagine I’m in the 25-percent tax bracket and I itemize. If I write a tithing check for $1,000, I’ve made a $1,000 charitable donation, and the church has an additional $1,000. But the after-tax cost to me of that donation was $750. [Read more…]

Tl;dr: The #PanamaPapers

Note: if, for some reason, you’d rather get this information in the style of a morning newscast rather Panama_Skylinethan read it, I’ve got a link for you at the end of the post.

You’ve probably heard by now about the Panama Papers leak: basically, the International Consortium of Investigative Journalists got 40 years of documents (about 11 million documents, or 2.6 terabytes of data) from Panamanian law firm Mossack Fonseca.

Mossack Fonseca apparently specializes in creating offshore entities and otherwise providing the tools people need to hide their money. (Note that the law firm claims it didn’t do anything wrong, and that there are non-illegal and -immoral reasons for putting money offshore.)

Even though there’s nothing Mormon about the leak, it’s a big enough thing that Mormons (and, frankly, everybody else) should know something about it. In Q&A format. [Read more…]

In Which I Unpack a Finance-Based Atonement Parable (or Mammas Don’t Let Your Babies Grow Up to Work on Wall Street)

Understanding the Atonement is tough.[fn1] To try to understand it, theologians have come up with theories to describe the whys and hows of the Atonement, and stories to illustrate how the Atonement works.

We’ve got a handful of favorite illustrative stories in Mormonism, including bicycles and lickings. I was recently reading chapter 12 of the Gospel Principles manual, and I came across an Atonement story that I haven’t seen in a while: a parable of a debtor and a creditor. What follows are my thoughts as I reread it:[fn2]  [Read more…]