This week, Obama announced to the public of a plan to put $1.5T in Tax hikes, mainly targeting the rich (people that make more than $250,000 a year) and cutting $580B from mandatory benefit programs, $248B from medicare and $72B from medicaid and other health programs. Despite the fact that the 2% of households in this range donate considerable sums of money to charities for the common good, and already pay 50% of all income taxes. This new tax plan endangers not only the economic wealth of these households, but also the charities supported by them.
2 comments:
You bring up a great point about the charities. Why would a democratic president cut funding to social programs such as Medicare/Medicaid and tax people who make charitable donations to help?
Well it could be (and this is just a idea) he would want to be swapping these charities with even more government.
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