Obama's Tax Plan

[peterp]

President Obama’s plan to revamp the health-care system could come at a significant cost to charities that rely on wealthy individuals for donations.

According to news reports, the president is calling for a cap on itemized tax deductions for Americans who earn more than $250,000 annually.

Such a move would reduce the value of tax deductions for people in this income bracket by about 20 percent.

What would such a change mean to your organization? Would it impact your fund raising efforts? If so, by how much?

[quabbin]

I am with Robert Reich. Let's look at the big picture. And the long term.

[walterhuber]

I expect that charities will suffer significantly if this plan goes through.