Comments on: What Do You Think About Obama’s Plan To Reduce Charitable Giving Tax Deductions?

By: author

author — Fri, 13 Mar 2009 17:34:53 +0000

@done – i agree that it’s not common, i was just trying to come up with some advantages to him reducing the deduction. I am sure there are some people who believe that wealthy people should be penalize for their charitable giving, because they believe that some of it is bogus giving.

By: BobV

BobV — Fri, 13 Mar 2009 09:30:15 +0000

It certainly is something to be concerned about. From what I have read, most people from that income range though won’t let that effect their regular giving. What happens however is that it decreases the desire to give more, above and beyond what they might already give. Also, if that income bracket has their taxes increased overall, there will be less to give to deserving organizations.

By: DoneToZen

DoneToZen — Wed, 11 Mar 2009 23:01:11 +0000

Just how common is it for rich people to set up bogus charities to avoid paying taxes, do you think? I can’t imagine that many rich people do that.

By: Casey

Casey — Wed, 11 Mar 2009 20:11:31 +0000

I don’t like this at all! I agree with you wholeheartedly that giving generously is a wonderful thing, and it is great that those who give are able to receive a tax deduction for their generosity. I think that charities and religious organizations are also going to suffer so much more than they are already suffering!! This new plan will continue to breed a culture of death and selfishness in this country! But I hope those who do give will not be discouraged and will continue to give.

By: Nate @ Debt-free Scholar

Nate @ Debt-free Scholar — Wed, 11 Mar 2009 19:58:23 +0000

WOW! Actually, I am not surprised. This is the kind of behavior that I expected from Pres. Obama. It really is too bad.

Thanks,
Nate