Tax the Wealthy and Hurt Charities

One of the great ironies of the Great Recession is that charities are struggling when we need them most. And now the federal government is considering changes in the 2010 budget that would only make things worse.

President Obama's proposed budget would raise taxes on single households making $200,000 or more and couples making $250,000 or more, as well as limit their deduction for charitable giving to 28 percent, compared to the current 33 to 35 percent.