Home » Opinion » Editorials
President Grinch: Obama's 'assault' on charities
President Obama's crusade against the wealthy is not about "fairness" or helping the less fortunate. It is about who gets to control the allocation of wealth, as the President's effort to cut tax deductions for charitable giving shows.
From the start of his presidency, Obama has sought to reduce the percentage of charitable contributions higher-income earners can deduct from their federal income taxes. That effort is being pressed more aggressively now, The Washington Post reported last week. Obama is meeting with officials and board members of many of the nation's biggest charities to get their support for his proposal to cap income tax deductions at the 28 percent rate. If a person in the 35 percent tax bracket makes a charitable donation, he or she would get to deduct 28 percent of it instead of 35 percent, as is now allowed.
The White House says that change would raise $574 billion for the federal government over 10 years. Of course, the change would take that $574 billion from American charities. Obama proposes literally taking money people would otherwise give to charity and redirecting it to Washington for politicians to use.
Obama portrays this change as a way to take money from the rich. But as the people who run charities know, it would really be taken from the people they help, not from the donors. Stacey Stewart, president of the United Way, told the Post that charities have been unable to convince Obama of the folly of pursuing what she called his "assault" on the charitable deduction.
During the presidential campaign, Mitt Romney proposed capping the amount of money the wealthy could take in tax deductions. But unlike Obama, Romney would have lowered tax rates in exchange. Obama would cut the charitable deduction and raise rates on the rich, doubly reducing both the amount of money the wealthy have to donate to charity and their incentive to give. And Romney's plan did not single out the charitable deduction, as Obama does.
In the context of broader tax reform, reducing the charitable deduction has merit. But Obama proposes no other reform. He simply wants to take money from charities so he, not they, can decide how to spend it. He intends to shrink the charitable sector for the purpose of growing the government sector. What a guy.
READER COMMENTS: 9
- Kuster's abortion lies: Claims against Garcia are untrue - 29
- The Obamaconomy: Shea-Porter shows its flaw - 30
- Smith schools Hassan: Leadership in Londonderry - 0
- Where officers live: Manchester is missing the point - 4
- Leo Bernier: For Hillsborough County Commission - 0
- Insurance exchanges Sam's Club or Obama's club? - 11
- Garcia and Guinta: For a change, send them to DC - 22
- Jeanne's travel ban: She doesn't want Obama here - 14
- Making it up: Shameless state Senate attacks - 9
READER COMMENTS: 0
- John Habib's City Sports: St. Thomas coach: I owe Central - 0
- Armed burglar from Derry sentenced to prison - 0
- 'Bingo hunting' police use random license plate checks to make arrest - 0
- Bedford police investigating burglary at Verizon Wireless store - 0
- Police: Manchester man charged with endangering child after going 101 mph - 0
- FairPoint customer concerned about blocked emails - 0
- Plaistow narrows field in search for its new police chief - 0
- Man faces robbery, assault charges after extradition from NY - 0
- Hershey Bears shut out Monarchs - 0
Hockey brought them together; Hooksett ice rink will serve as NH couple's 'church' for wedding
NH Audubon's Rare Bird Alert
Dartmouth women skaters beat Union