Comments on: What Do You Think About Obama’s Plan To Reduce Charitable Giving Tax Deductions? http://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Erik Folgatehttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-20899 Erik Folgate Tue, 04 Jan 2011 02:37:59 +0000 http://www.moneycrashers.com/?p=754#comment-20899 Sarah, I'll need to do some more research on this, because this article is a little dated and I don't now if he's followed through with this tax provision. Sarah, I’ll need to do some more research on this, because this article is a little dated and I don’t now if he’s followed through with this tax provision.

]]> By: Sarahhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-20758 Sarah Thu, 30 Dec 2010 14:56:46 +0000 http://www.moneycrashers.com/?p=754#comment-20758 Aren't there plenty of provisions in the tax law now to limit charitable deductions? We have 50% of AGI for charities and 20% for foundations. There's also the AMT for excess itemized deductions. And...foundation fraud gets lots of press, as it should, but I don't think it's widespread either. Wouldn't we capture the "rich" more if we added another tax bracket or two at the top? Aren’t there plenty of provisions in the tax law now to limit charitable deductions? We have 50% of AGI for charities and 20% for foundations. There’s also the AMT for excess itemized deductions. And…foundation fraud gets lots of press, as it should, but I don’t think it’s widespread either. Wouldn’t we capture the “rich” more if we added another tax bracket or two at the top?

]]> By: authorhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-6500 author Fri, 13 Mar 2009 17:34:53 +0000 http://www.moneycrashers.com/?p=754#comment-6500 @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. @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: BobVhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-6499 BobV Fri, 13 Mar 2009 09:30:15 +0000 http://www.moneycrashers.com/?p=754#comment-6499 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. 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: DoneToZenhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-6497 DoneToZen Wed, 11 Mar 2009 23:01:11 +0000 http://www.moneycrashers.com/?p=754#comment-6497 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. 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: Caseyhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-6496 Casey Wed, 11 Mar 2009 20:11:31 +0000 http://www.moneycrashers.com/?p=754#comment-6496 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. 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 Scholarhttp://www.moneycrashers.com/what-do-you-think-about-obamas-plan-to-reduce-charitable-giving-tax-deductions/#comment-6495 Nate @ Debt-free Scholar Wed, 11 Mar 2009 19:58:23 +0000 http://www.moneycrashers.com/?p=754#comment-6495 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 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

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