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

"Charities and the public need to understand that in the current economic environment, which is creating difficulty for some nonprofits and their constituents already, this public policy change is likely to have an additional negative effect," Patrick M. Rooney, the philanthropy center's interim executive director, said in a statement. "However, changes in personal income and wealth, both of which have declined in the past year, have a greater impact on charitable giving than do tax rate changes."