Among the many bad ideas of the new administration the idea of raising taxes on the investor class in the midst of a recession is one of the worst.

Losses in the market have destroyed 50 years of confidence. It will be years before many will return to the equity market. Raising taxes on the investing class adds further disincentive to the average investor to help replish the capital pool.

Equally absurd is the idea that deductions for charitable organizations should be reduced. Charitable organizations have suffered the double trauma of losing much of their investment capital in this atrocious market and having a much harder time time getting donations from the public suffering from this recession.

In fact dedcutions for charity should be increased. If the top tax bracket is going to be 39% then why not allow one to deduct charitable donations at a rate of 50%. Why would anyone want to discourage charitable donations?

It seems that every idea this administration proposes is less economically sound than the one before.

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