Ok – you remember my definition of “mixed emotions” — watching your mother-in-law drive your brand new car over the cliff. I’m thinking President Obama’s budget proposal might just generate a few of those same feelings in some of his most ardent supporters.
Seems his new tax plan reduces the deductions for charitable contributions for those who earn over $250,000/year. This negatively impacts the small/medium size local businesses – Blue Cross Blue Shield, Dick Anderson Construction, Van’s Thriftway, the local banks and credit unions, Power Townsend, etc., etc., etc. – that always seem to come forward to support our community’s various non-profit organizations: The Symphony, Grand Street Theatre, Helena Chamber Singers, the Myrna Loy, the Holter Museum, the Florence Crittendon Home, – the list just goes on and on. Every non-profit group and cause in town counts on the business community to donate to their events, fundraisers, productions, performances, whatever.
What happens next year when businesses profits are down because of the economy and they don’t get the same financial break to support these organizations? Do you suppose those non-profits find their funding goes down too? Yep, you betcha.
And all those arsty-fartsy, bleeding-heart, business-bashing, do-gooders who voted for Obama and support his anti-business tax policies will find their calls for help for this, that, or the other worthy cause might not receive the same positive response.
I hope the local businesses answer those requests for donations with a succinct, “I’d really like to help you out, but I already gave – to President Obama’s economic stimulus, bank bail-out, budget-busting, and universal health care fund. I thought you’d be thrilled.”
Update: Here’s another little gem to add to the mix. You know that “tax break” we’ll be getting in our paychecks in a few weeks courtesy of Barack the Magnificent? The big $13 a week? Turns out that’s a case of giving with one hand and taking away with the other too. Seems the Feds are changing the WITHOLDING SCHEDULES but not the TAX TABLES. So you’ll get a little more now, but in April 2010 you’ll end up owing another $700. Hope! Change! Depression! Pass the Prozac.