Obama Plan May Cost Charities Billions
Feb 28, 2009

According to estimates released on Friday by the Indiana University Center on Philanthropy, Mr. Obama’s proposed tax plan could reduce charitable giving by wealthy Americans by several billion dollars annually.  The report also suggests that for every 100 point drop in the stock market, giving declines by $1.8 billion.  When the Dow Jones Industrial Average dropped 332 points (4 percent) on Inauguration Day, for example, the charitable giving sector theoretically declined by $5.98 billion.  The estimates are detailed in an article in the Chronicle of Philanthropy linked below.  http://philanthropy.com/news/updates/7285/obamas-tax-plan-could-cause-giving-by-the-wealthy-to-drop-by-several-billion-dollars-annually