Quote du jour

There’s a reason people like me argue that elections have consequences, and it’s because of Barack Obama’s tax and spending proposals announced yesterday. Obama’s massive $315 billion tax increase that violates a basic fairness principle in our tax code: that no matter who you are, we don’t count a dollar of income for taxable purposes once deductions for things like charitable donations and mortgage interest are taken into account. Contrary to the White House’s smarmy insinuations, the poor and the rich are treated exactly the same under current law.

The White House proposal would reach into these deductions and effectively levy an additional tax of 7% on charitable contributions and mortgage interest (and up to 11.6% if Obama’s tax increases go into effect) for those in the highest tax bracket — in other words, those with the most ability to support America’s charities.

-Patrick Ruffini