Passer au contenu principal

Messages

Affichage des messages du 2020

Should Religions Hoard Their Cash?

People seem to be outraged that religions hoard their cash. While this is in no way a recent phenomenon, the outrage is. The bottom line is that some religious organisations are very, very rich  –  and have been for a very long time.  The Catholic Church, at the helm of the most popular organised religion on Earth, settled sexual assault cases for billions (with a b ) of dollars. Scientology is estimated to own between one and three billion dollars (net) worth of property. We recently learned that The Church of Jesus Christ of Latter-Day Saints (known, to its dismay, as the Mormon Church) owns an investment portfolio worth 100 billion dollars. The Church only has some 16 million members. It also takes in some 7 billion dollars each year. (The Church mandates tithing of 10% of its members' gross income.) Recently, some have made that argument that churches should not benefit from a tax exemption if they hoard their cash.  It is true that churches are tax exempt. Their member