Obama's Proposal for Limiting Charitable Deductions

Thursday Mar 26, 2009

Last week I endorsed the President Obama's proposal to increase the funding for Perkins Loans. These loans are a boon to middle class Americans.

Today, I have to give a "thumbs down" to President Obama's proposal that would limit charitable deductions for individuals making over $200,000 and couples making over $250,000.

The reason? This would result in less contributions not only to universities such as Golden Gate but to charities of all types.

Golden Gate University has - like virtually every institution of higher education in the country, at least on paper - lost a sizable portion of its endowment. Our endowment is used for scholarships for students in need.

This proposal is penny wise and pound foolish. It needs to be relegated.

What do you think?

Category: Government

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