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Saturday, December 31, 2016

Will Tax Exemption For Religious Entities End?

Once Government Realizes There's Money To be Had, Tax Exemption For Religious Entities Will Come To An End Soon

A new study says religion in the United States is worth $1.2
trillion per year.

 Not only is that equivalent to the 15th largest national economy in the world, but it's more than the combined revenues of the top 10 technology companies in the U.S., including Apple, Amazon and Google.

The study, "The Socioeconomic Contributions of Religion To American Society: An Empirical Analysis," was conducted by Brian J. Grim from Georgetown University and Melissa E. Grim from Newseum Institute.

The Guardian reports:  

The Socioeconomic Contributions of Religion to American Society:

 An Empirical Analysis calculated the $1.2 trillion figure by estimating the value of religious institutions, including healthcare facilities, schools, daycare and charities; media; businesses with faith backgrounds; the kosher and halal food markets; social and philanthropic programs; and staff and overheads for congregations.

 Co-author Brian Grim said it was a conservative estimate. More than 344,000 congregations across the U.S. collectively employ hundreds of thousands of staff and buy billions of dollars worth of goods and services. 

More than 150 million Americans, almost half the population, are members of faith congregations, according to the report. 

Although numbers are declining, the sums spent by religious organizations on social programs have tripled in the past 15 years, to $9 billion.

 The report points to analysis by the Pew Research Center which shows that two-thirds of highly religious adults had donated money, time or goods to the poor in the previous week, compared with 41% of adults who said they were not highly religious.

The analysis didn't account for the value of financial or physical assets held by religious groups, or for "the negative impacts that occur in some religious communities, including [...] such things as the abuse of children by some clergy, cases of fraud, and the possibility of being recruitment sites for violent extremism."

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