yes
not sure how he doesnt see how people are just going to give less or not at all
Explain something for me, I am unsure. So do people in higher earning brackets currently get larger write offs for charitable contributions. Or maybe do larger contributions get you a larger percentage write off? Are either of those correct?
Everyone can deduct their charitable contributions at exactly the same rate.
The upper income bracket is limited to the total amount that can be annually deducted.
BHO was just using the tax rate as a "dumb it down" explaination.
In that sense, what it would do is it would equalize -- when I give $100, I'd get the same amount of deduction as when some -- a bus driver who's making $50,000 a year, or $40,000 a year, gives that same $100. Right now, he gets 28 percent -- he gets to write off 28 percent. I get to write off 39 percent. I don't think that's fair.
This is what he said. So he is into people being at the same percentage no matter what they make? Is this his premise?
Transcript: Obama says there are no quick fixes - CNN.com
I suppose you would rather have George Bush handling this crisis
The buzziest moment came about 35 minutes into the press conference when Ed Henry of CNN asked the President why he didn't spew outrage as soon as he learned about the AIG bonuses. Why, Mr. Henry asked, did the president wait several days before speaking out? The president, with an icy stare, responded that he "likes to know what he's talking about" before he speaks. It was a pretty testy exchange that brought about nervous laughter from the other reporters and snarky responses from Twitterers. Boom! Next question.