OPINION:
President Obama’s unconstitutional plan to raise taxes on the wealthy will be the death knell of many nonprofit organizations that are helping close the wage gap for families at risk.
When taxes go up, donations go down. Wealthy people will simply cut back - or cut off entirely - the amount of their money that they donate to charity. After all, they have homes to maintain, children to educate and futures to save for, so, like everyone else, they will decrease the amount of money going out in proportion to the diminished amount coming in.
Mr. Obama seems to think that overtaxing “those more fortunate” will have no impact on anyone else, but it will have an impact that will get increasingly stronger as it moves down the economic ladder. As always, it is the ones who are already close to the financial edge because of recessions, depressions and the rising cost of food and fuel who will be shaken the most and will have less of a charitable safety net to catch them should they fall.
DEBRA STEVENSON
Fairfax
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