President Obama’s Press Conference
Listen live on WPRO. Comment here. (In case anyone else has been ranting at a radio or television for the last 27 minutes …)
Listen live on WPRO. Comment here. (In case anyone else has been ranting at a radio or television for the last 27 minutes …)
What was the answer to Chip Reid’s question about the $7 trillion he proposes to spend versus his promise not to saddle future generations with our problems??
“We’re doing everything we can to reduce that deficit”?
So he is saying in all seriousness that 1.) energy reform and 2.) health care reform will save us money?
Obama is in serious denial about the effect of his plan to reduce the percentage that people can deduct for charitable contributions. While it may be true that giving to charity is at its most basic, altruistic, for larger contributors and corporations, it is almost always a means of reducing one’s over all tax burden, while at the same time, doing a good thing.
Obama seems to be under the foolish delusion that “rich” folks are going to give more money to get the same bang for the buck, instead of what is much more likely to happen, is that the charities are going to be the one’s to suffer, because they’ll end up absorbing the lost revenue.
Maintaining and growing on-going contributions to charities is very difficult, and often is a matter of a few percentage points. I know many people in the non-profit sector, and they are absolutely cringing over what is going to happen to them under his poorly thought out plan (and they are almost all Democrats!).