Peter Orszag, Director of the Office of Management and Budget for President Obama, responded Friday to critics of the administration’s proposal to reduce the amount of charitable contributions that high-income taxpayers can deduct. Many tax analysts, including this writer, argued that such a reduction would deplete much needed resources from …
Here’s a test: Guess who made most of the charitable contributions in 2006, according to the most recent data available from the Internal Revenue Service? If you guessed “taxpayers with high incomes”, you’d win the prize. Now, guess which class of taxpayers the Obama administration wants to discourage from making …
