Obama Raising Taxes On Charitable Donations
Yes it’s a tax hike on the rich, so according to the left and their class warfare ideology it’s ok. But it’s a tax hike on the charitable giving of the rich. And that’s going to have a disproportionate impact on charities, because “the rich” have and give more money to charity than any other demographic.
The White House proposal would reach into these deductions and effectively levy an additional tax of 7% on charitable contributions and mortgage interest (and up to 11.6% if Obama’s tax increases go into effect) for those in the highest tax bracket—in other words, those with the most ability to support America’s charities.
Nothing says hope and change like punishing charitable giving with new taxes.
