Washington – President Barack Obama is defending a budget idea that would reduce the tax deduction that wealthier families can take when they make charitable donations.
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Obama says the plan is “the right thing to do.”
Speaking at a prime-time news conference, the president said the change in tax policy would be realistic and fairer to lower-earning families that make charitable gifts but get a smaller tax deduction. Some lawmakers don’t like the idea. They say it could hurt donations to needy groups in a time of need.
Obama says the provision would affect only about 1 percent of the American people, and they would still get a tax deduction, just not as big as they used to get.
According to the JTA More than 100 Jewish organizations signed a letter to Congress last week stating that they had “signifcant concerns” with the proposal and the effect it could have on charitable organizations, although they stopped short of opposing the plan. The Orthodox Union declined to sign the letter, because it opposes the deduction change,
Raboisay, I actually agree with him on this one. I think there is too much tzedaka that isn’t being given lishma and its disgusting!!!! And don’t give me all that “lo ishma, bo lishma” nonsense!!!!!
This man is killing this country with his extreme socialist/dictatorship policies! As someone who is heavily involved with different Mosdos, which rely on charitable contributions, doesn’t this “President” know that the work Mosdos/CBO’s do SAVES HIS GOVT. MILLIONS EVERY YEAR???
If grass-roots organizations don’t pick up the slack from City, State, & Federal agencies, millions more will go hungry, stay addicted, be homeless, be unemployed…the list goes on! Obama knows that. But his agenda is to destroy what little entrepreneurship there is left. He is so dangerous…think Chavez & Castro! Thank G-d I can at least take some small measure of comfort in knowing I didn’t vote for him, Because I saw the writing on the wall. But I suspect nobody foresaw the terrible damage that started January 21st, 2009.
This is the “Change we can believe in”, ladies & gentlemen! My question: How on earth can we stop this runaway train? 2 1/2 months & look at the havoc he’s caused!
Raboisay, I actually agree with him on this one. I think there is too much tzedaka that isn’t being given lishma and its disgusting!!!! And don’t give me all that “lo ishma, bo lishma” nonsense!!!!!
Sruly how can you speak such utter stupidity and foolishness
People who give large contributions simply want / need to have the tax deduction. How can you say thats shelo lishma, all they gain is that the money given is not taxed !!!
Obviously you don’t give charity so you don’t understand. Currently when you give the charity your income is lowered to income minus charitable donation and you’re only taxed on the post charity dollars.
Or would you prefer the people not be able to give the charity b/c they are taxed on this money and dont have enough left.
Sruly, you are some self hating person. I did not say jew for a reason!
When you deduct your contribution. you are not getting anything back, you are just not paying 39% tax on the 100% contribution.
Also, it is exactly by Tzedakah, that Chaza”l tell us that Shelo Leshmo is considered a Full Tzedakah (Tzedakh Gemurah).
But as I pointed out, you don’t have to believe it, if your name is …..
Who does the President think funds the non-profit social service agencies that serve the poor?
Yidden: Obama is eliminating everything good and advocating for everything that will lead to our destruction – as Yidden and as Americans. Whoever voted for him should ask mechila from Hashem and the entire community. There is nothing we can do except to be mispallel bishloma shel malchus – to the exclusion of Obama and his administration who are setting up Yidden for trouble. Examine his socialist views and actions. Examine his foolish laughter and derision of others. Examine his broken promises. Examine the blame he lays on others for his gross incompetence. Examine his plans for the Middle east, where he will entrust our enemies with tons of money and the very weapons they want to kill us. Examine the faith he places in those who have a zero track record for honesty and reliability. I wish he does something impeachable so we can see him out. I can’t wait for almost four years.
This won’t affect any liberals because stats prove they don’t contribute nearly what conservatives give to charity.
Obamanation is an exception but he only gave to his church of hate.
Partial Birth Abortions are in, Condoms for Schools are in, Same Sex marriages are in….. But CHARITY is out !!!
Here’s a theory: “O” knows exactly what he’s doing. Lack of charitable giving will result in the poor relying ever more on…..the government—-which seems to be exactly what his Royal Highness wants to happen.
Just another step to bring this country toward communism, so that he can control you better.
Such foolishness and shortsightedness. Obama’s tax rate for charitable deductions is better than under any president since the 60’s except for George W Bush. Statistics show that people gave no more or less charity under Regan than under W. This just a ridiculous issue. People who donate 10k/year to a particular charity are not going to suddenly reduce it to $9,880 because of the deduction change. Thats just silly thinking.
Stupid tax policies that benefited the wealthy have helped to bankrupt this country. Its about time that things were evened out a bit.
Here are some things you can think about:
1. More people became millionaires under Clinton than any other president and average pay went UP for nearly every income group.
2. Under Bush’s policies, middle and lower income groups so no increase at all in their average income (and a few groups dropped), while the top 1% saw a 40% increase.
All Obama is doing is fixing with the Bushies messed up. Bush stacked the deck in favor of the rich and threw the rest of us under the bus. Obama is just putting the numbers back where they were before. I don’t know about you, but I did much better under Clinton than under Bush.
I must admit that I find it bizarre how we pick and choose what we support. On this issue every poster here is so conservative it would make William F. Buckley have to look to the right to find you. But when it comes to ridiculous entitlements, you are all as liberal as they come (HUD, WIC, Welfare, etc.).
I am unimpressed with this president! I do believe he is leading us down the road to disaster. PMO Clinton is the reason we are in this financial mess in the first place. In 1999, (The Clinton Administration) the Financial Services Modernization Act repealed certain sections of the Glass-Steagall Act. Since that time we have seen the barriers between institutional financial services providers (banks, insurance companies, securities firms and investment banks) begin to disappear. All were moving toward offering similar services and products. However, during the financial crisis of recent months, many are beginning to question the wisdom of this original deregulation. Indeed, we can assume that significant modifications relating to function, services and supervision will emerge from the massive bail-outs. This is a result of our financial infrastructure which contributed to industry irresponsibility leading to the sub-prime mortgage crisis. Clinton also Required Fannie May and Freddie Mac to significantly increase the percentage of their portfolio dedicated to providing loans to low income people who would not have qualified for a loan under traditional requirements. Mr. Obama is nothing Like Clinton… he is far far worse for this country, and I believe Clinton was the second worst President we ever had, only Jimmy the Peanut Farmer Carter was worse.
If a person gives the money away, why should he pay taxes on it? This is not a subsidy, it’s simple justice.
And since when does it matter whether tzedakah is “lishmah” or not? What difference does it make, so long as the money gets to the right place? What are we, Xians ch”v?
Where I live (not America) you can give a $10,000 donation and get a receipt for $20,000 – which means you end up giving nothing at all, because the tax benefit is refunded to you. This is NOT TZEDAKA. This is called “fraud” – ripping off the government.
Give ten percent of your net income – whether or not you receive a deduction – just give the ten percent.
As for Obama….. he is the most dangerous man since Hitler yemach shemo. One day we will be saying Obama yemach shemo.