Sri Lanka & Ski Parkas: Why Cash is the King of Gifts

The WSJ reports that many non-cash tsunami-relief donations are items "unusable" by the recipients -- "ski jackets, moisturizing gel[,] Viagra[,] cozy winter hats, Arctic-weather tents, cologne and thong underwear."

This reminds me of Prof. Cowen's Christmas post.

Perhaps there was wisdom afterall in the special tax provision Congress passed to permit a 2004 federal income tax deduction for cash contributions (and not non-cash contributions) made in January 2005 for the purpose of tsunami relief.