This sounds like a great idea to me. You know, since the government does such a great job using our tax dollars to take care of the needy. Why would we want to encourage the wealthy to give to charities to take care of the needy? How in the "H" do the democrats get away with claiming to be compassionate and care for the needy? This makes me SICK! The OPPOSITE of what we SHOULD be doing. But doesn't surprise me since Obama has proven over and over again that he believes in BIGGER GOVERNMENT and his "god" complex has him so delusional that he actually believes he can solve all these problems himself. What a joke! (both Obama AND this ridiculous tax plan)!
http://www.breitbart.com/article.php?id=D974O0HG0&show_article=1
Obama defends tax plan on charitable giving
Mar 24 08:52 PM US/Eastern
WASHINGTON (AP) - President Barack Obama is defending a budget idea that would reduce the tax deduction that wealthier families can take when they make charitable donations.
Obama says the plan is "the right thing to do."
Speaking at a prime-time news conference, the president said the change in tax policy would be realistic and fairer to lower-earning families that make charitable gifts but get a smaller tax deduction. Some lawmakers don't like the idea. They say it could hurt donations to needy groups in a time of need.
Obama says the provision would affect only about 1 percent of the American people, and they would still get a tax deduction, just not as big as they used to get.
1 comment:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAKl4RpzgwpY&refer=worldwide
Senate Rejects Obama Plan to Cut Tax Breaks on Charitable Gifts
Share | Email | Print | A A A
By Brian Faler
April 2 (Bloomberg) -- The U.S. Senate rejected a proposal by President Barack Obama to finance an overhaul of the nation’s health-care system by limiting the ability of the well-to-do to take tax deductions for charitable contributions.
The chamber unanimously approved an amendment to a pending budget plan that rejects the proposal to limit the size of itemized deductions that can be taken by those earning more than $250,000.
Obama proposed using the estimated $318 billion such a change would generate to help finance a health-care overhaul, which he says will cost at least $630 billion. Lawmakers said they feared the effect of such a tax change on charities.
“The Senate sent a clear message to the president,” said Senator Bob Bennett, a Utah Republican who sponsored the amendment. “Charities benefit greatly from the donations made by individuals in this income bracket, and raising taxes on these contributions would be a disservice to Americans and the millions of charities across the country.”
To contact the reporters on this story: Brian Faler in Washington at bfaler@bloomberg.net
Last Updated: April 2, 2009 17:22 EDT
Post a Comment