Wednesday, March 11, 2009
In a column in the Atlanta Journal-Constitution, former Congressman and Libertarian candidate for President criticizes the Obama administration for proposing to limit the deductibility of charitable contributions for high-income households. We have previously blogged extensively about this proposal and the debate it is sparked. Citing already declining donations both among large dollar donors and from corporations (the latter based on a Conference Board report released late last year), as well as shrinking revenues and resulting layoffs and other budget cuts at Atlanta area charities, he argues that reducing incentives for giving by the wealthiest households can only hurt charities further. He does not, however, address the arguments noted in earlier postings that any effect from the reduced charitable giving incentives would be minimal.