October 2, 2011
Changes in Charitable Deduction May Have Mixed Impact on Giving
The charitable deduction is once again at the center of political debate.
President Obama, for the fourth time in his presidency, proposed last month to curb the tax break for wealthy Americans, along with all other itemized deductions. He said the money lost to the federal treasury from all those write-offs was needed to pay for his jobs bill, the centerpiece of a plan to revive the economy.
Charities immediately denounced any effort to limit the incentive to give, especially
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