This is the elimination of a scam. The tax rate remains the same.
Bully! This is the right thing to do.
do you think this is spin designed to make bush look bad today after talking about the bill????
I don't think it was a scam. I donated my old car to charity back in 2002, got a blue book of $1200 on it and the charity probably got much more than that by sending it to a chop shop to sell its parts on the market. Everybody won there.
Now, thanks to this latest regulation, the charities are going to get less donations, taxpayers are left with one less tax break, and people are gonna be pissed off on both sides of the aisle. That ain't what I call a solution.