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Rest Assured--obama Isn't Killing Charities

There's been a bit of hand-wringing these last few days over whether Obama's proposal to cap tax deductions for the affluent would lead to a big reduction in charitable donations--in his column today, David Brooks writes that, "[I]n its very first budget, the Obama administration raises the cost of charitable giving."

But, according to a recent study by the Tax Policy Center, the measure would only decrease giving by a mere 1.3 percent. Also, as the study points out, the measure wouldn't take effect until 2011, which should further ease concerns about depriving charities of revenue during a recession.

For what it's worth...

--Noam Scheiber