Analysts: Giving by Wealthy Would Decline Slightly Under Obama Budget Proposal

March 25, 2009, The Washington Post — President Obama last night defended his controversial budget proposal to cut the rate for charitable tax deductions for wealthy people, arguing that the policy shift would not have an adverse effect on charitable giving.

"If you look at the evidence, there's very little evidence that this has a significant impact on charitable giving," Obama said in his second prime-time news conference.