Obama’s Budget Targets Charities – Slashes Charitable Tax Deduction
Posted by iusbvision on March 4, 2009
Targeting charities using the tax code to bleed them dry. This policy is heartless and cruel, not to mention destructive. These are the only terms that fit. This policy will raise the degree of human suffering in our country and around the world as Americans give more to charities then the rest of the world by far. It also says something about what Barack Obama is all about. The people must make sure that this provision never becomes law.
The following video contains Ben Stien and John Huntsman from the Huntsman Cancer Institute talking about this proposal in Obama’s budget. The elite media should be screaming about this.
Democrats and Republicans poured cold water on President Obama’s budget plan to cut down on wealthy taxpayers’ charitable giving tax deductions, the second of his ambitious cost-savings plans to earn lawmakers’ scorn, and underscoring the legislative minefield he is entering.
By reaching so broadly with his $4 trillion 2010 budget plan, and the giant deficits it will incur, Mr. Obama put his hard-won election mandate on the line, saying if lawmakers want to do big things – from boosting education and clean energy technology to overhauling health care – they will have to find ways to pay for it.
From his plan to cut payments to farmers, which both parties all but ruled out this week, to his goal of a complex cap-and-trade system to control greenhouse gas emissions, lawmakers predicted Mr. Obama will have to survive challenges from political friends and foes alike.