Document Type

Editorial

Publication Date

4-1-2009

Publication Title

Omaha World-Herald

First Page

7B

Last Page

7B

Abstract

Beginning in 2011, President Barack Obama's proposed budget plan would reduce the value of charitable tax deductions for wealthy Americans (families with more than $250,000 in income, 1.2 percent of households) to 28 cents on the dollar.

At the same time, the president's budget also would increase taxes for this group (from 33 percent and 35 percent to 36 percent and 39.6 percent of their income) to help pay for reshaping the nation's health care system. The tax deduction changes would not affect foundations or Americans making less than $250,000 a year.

Some in the philanthropic community argue that this change would decrease the charitable giving of wealthy donors. However, the data are unclear as to whether the changes really would have a net negative effect.

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