President Obama offered a potentially devastating proposal as part of his FY 2013 budget: reduce the charitable deduction from the present 35% to 28% for families with incomes of more than $250,000 & individuals making more than $200,000. Why is this proposal so potentially devastating? A tough economy is challenging charities already stretched to the limit by the increased demand for services.
Please help us demonstrate that the public supports the survival of charities! We need YOU to SIGN this petition TODAY and SHARE IT.
We must ask President Obama & Congress to consider a scenario where children of impoverished nations die of hunger because of this ill-conceived action; where telephones will go unanswered at suicide hotlines; where more mothers, daughters & sisters will die from breast cancer; where animals will continue to be brutally treated to satisfy the greed of those who have no conscience; where our brothers, sisters & innocent children will continue to have their lives cut short by HIV/AIDS. We must ask President Obama & Congress, WHO WILL TAKE RESPONSIBILITY FOR THIS?
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Background Information: Established by Congress in 1917, the charitable tax deduction offers a tax incentive to Americans to assist charities in supporting their vital missions. It is the only tax incentive that does not directly benefit the taxpayer. Higher-income earners provide the biggest proportion of charitable donations – at times exceeding 80% for some charities. Implementing a 28% deduction cap will create a deficit for the nonprofit community of $5.6 billion per year.
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