President Vows Not to Deter Wealthy From Giving

President Obama said that he wants to ensure that his efforts to force the richest Americans to pay more taxes do not hurt people who make big donations to charity.

In his State of the Union address, Obama said those making more than $1 million should be required to pay at least 30 percent of their income in taxes. But, he said in an accompanying document, “the administration will work to ensure that this rule is implemented in a way that is equitable, including not disadvantaging individuals who make large charitable contributions.”