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No more deductions, will your favorite charity survive?

Posted: Mon May 11, 2009 11:26 pm
by Floyd Alvin
I don't want to start a big political debate but can you believe they are considering "curbing the ability of wealthier people to reduce their tax bills through deductions for mortgage interest, charitable contributions and state and local taxes".
http://www.etaiwannews.com/etn/news_content.php?id=945956&lang=eng_news

Charities of all kinds are having serious problems raising funds as it is. Rather you like the rich or not, this would be devastating to most if not all charities. It would put even more demands on governments on all levels to make up the loss of income.

This just seems like a really, really bad idea. How can they even consider such a crazy idea?