And we thought we avoided the fiscal cliff. Well we avoided the major cliff but now we have some mini cliffs to deal with one to address is charitable donations. Legislation passed by the Senate late Tuesday night will limit the amount wealthy people can claim for charitable deductions on their taxes. While some say donors shouldn’t be motivated by the amount of money they can write off, others –- including some nervous nonprofits –- argue that tax breaks for charitable giving should have been left untouched in the deal.
This is ridiculous since if you want to help help without exceptions like a higher tax write off. Is this guy going to feel the crunch if he can’t deduct as much? It appears not just our government is selfish but other special interest like non-profits and the wealthy are trying to get in on the act. These people again need to realize that the people who are going to get hurt in this scenario are those people who need the help and let’s be frank the people these kind of people make money off of everyday.