Will President Obama Restrict Charitable Contributions?

“In an effort to educate our constituency, we are making you aware of an issue that is under consideration in Washington, DC. Under a new Obama administration proposal, the value of itemized deductions for charitable contributions for higher wage-earners will go down. The purpose of this reduction is purportedly to pay for new healthcare initiatives, according to administration officials.
Under the plan, there would be a cap on itemized deductions for mortgage interest and charitable donations for families making $250,000 and above. The administration hopes to generate approximately $300 billion in new taxes over ten years, and the plan would …” Read more here 
Source : Faith News
Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Leave a Reply

Your email address will not be published. Required fields are marked *