Obama’s war on charities

Weasel Zippers has it right

Just like the Soviet Union, do in private charities, so all that remains is the State.

Via Forbes: 

President Obama’s long-awaited budget proposal, to be released today, does not come right out and say that it  intends to reduce  contributions to charity—but that is almost certainly what would happen were it to become law.  Here’s why.  The White House has effectively doubled down on a tax change it has been pushing for four years that would limit the value of the charitable tax deduction.  The Administration has, since 2009, pushed unsuccessfully to allow only 28 cents on a dollar donated to charity to be deducted—even though the top tax rate for the wealthy donors who make most use of the deduction has been 35 percent.  In the budget released today, the President again proposes to cap the charitable deduction at 28 percent—despite the fact that the top rate on the highest earners has increased to 39.6 percent.  Think of it this way:  the White House proposal would raise the cost of giving to charity from 60 cents per dollar to 72 cents per dollar.  That’s a 20 percent increase in what can be called the “charity tax.” 

 

3 thoughts on “Obama’s war on charities

  1. How incredibly malicious, not only to those who are wealthy enough to donate to charities, but to those who rely on those donations!

  2. Pingback: Sunday Morning Links: 1969 Boss 302 Mustang | motorcitytimes.com

  3. Pingback: Obama’s war on charities | Not Good News

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