Obama has decided to cut down the charitable giving tax deductions. However, this time it was criticized by Democrats and Republicans alike, and it poured more fuel on the economic fire that he is building. Pres. B. Hussein Obama has put limitations on charitable giving, aka the "charitable giving deduction reduction", which limits deductions that can be made by couples making $250,000 + a year. It also reduces the amount that can be made by individuals that make $200,000 + a year.
Now, not only has Obama raised the taxes on the top 2% of the population (they won't mind since they pay 2/3 of the taxes anyway), but now we are going to limit the reach of the biggest givers in the country. I know, some or maybe most will still give, but others will limit their donations.
I'm curious what the people, and groups that depend on the charitable giving will do? I wonder if the "hope" is to limit traditional giving, and create room for the government teet? Barry's campaign slogan was slightly off, instead of "The Change We Need" it should have been "The Change that Creates Need."
Friday, February 27, 2009
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