Thursday, March 26, 2009

Obama's Attack on Charitable Giving

Charities Skeptical About Obama's Proposed Tax Change - First 100 Days of Presidency - Politics FOXNews.com:

"Ironically, Obama's proposal to change tax policy is intended to help raise hundreds of billions of dollars for expanding health care -- but Hillman said in the near-term, the tweak to charitable donations policy could put more strain on hospitals that rely heavily on philanthropy."

This is incredible stupid. Someone willing gives money to an objective "good cause" (ie an approved charity) and in the past the Government gives a tax break to the person giving the money. The tax break isn't extra money, or less taxes on the rest of their money, it just a simple deal - If you give money away to help others, the government won't make you pay taxes on that money.

Example:
Now,
You give $100 to a worthy charity of you choice
You don't pay taxes on that money.

New plan (with correct math - it's very complecaited!)
You give $100 to a worthy charity of your choice
You also give $7 to the government (to fund some atrocity like medical experiments on human embryos)
for a total of $107

or more likely...
You pay $7 in taxes on the $100 of income if you give it away
If you keep it, you pay $35 (and only "keep" $65)
So for every $100 you make, you can keep $65 or give $93 away
Where as before, you could give away the whole $100


This is a stupid plan, and it's SO Stupid I think it's a distraction and I question the real reason behind it... which I think will be to re-categorize what is and isn't an "approved charity"....more on that later.

1 comments:

Anonymous said...

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It is said that $7 Billion LESS will be donated.

absurd thought -
God of the Universe says
discourage charity

reduce the deduction
government soup is best
.
A Leader's Cult of Personality is dangerous. This Obama & Unicorns business is way too funny and insane! Obamamania runamok.

In case you haven’t already been amazed by the Obama and Unicorns Art Phenomenon, I thought you might get a kick out of this.
Obama and Unicorns Art
Wild, wacky stuff! Very bizarre! Enjoy!
.
absurd thought -
God of the Universe says
deify your dear leaders

they are supernatural
with magical qualities

.
absurd thought -
God of the Universe says
always create more taxes

hypnotize the people
one more tax will fix it all

.
absurd thought -
God of the Universe says
don't believe in me

put faith in communism
despite it killing billions
.
USpace
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Philosophy of Liberty Cartoon
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:)
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