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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Limiting charitable deductions will hurt all--not just rich

Charity, President Obama, Socialism / Marxism, TAXES, THE ECONOMY, Unintended consequences

President Obama has little understanding of the charitable giving mindset. No wonder, he gives very little. But to say it isn't fair that the rich get to receive a 39% return on their deduction when others only can receive a 28% return shows his ignorance of the whole tax issue. It is OK to tax the rich at 39% buy not allow them the deduction return of 39%?

He is not alone in not understanding tax deductions. Mortgage interest incident.

Milwaukee Ballet was mentioned as an arts organization that will be harmed by the Obama plan to limit full deductions for gifts. When I worked at the Ballet, it was in iffy circumstances. Corperate and private doners kept the dancers in shoes, so to speak. Mary Ladish was our Executive Director???.  The back of the program was full of donors.

Without their donations, the show would not go on.

More faith based charities will be harmed as well. Maybe that is the President's goal--to eliminate faith based organizations? What he isn't realizingis that it will also be detrimental to public schools, public parks, public zoos, etc.

On a recent trip to the zoo, I was rather surprised to see all the donation placques on various structures. From the avairy house to a bench. There were so many, I almost expected to see one on the restroom door! (There might have been one there, but I never had occasion to check it out.)

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