A tax by executive action. On contributions to athletics.
http://www.forbes.com/sites/mikeozanian ... e-hardest/" onclick="window.open(this.href);return false;By hook or crook, President Obama would like to eliminate the tax deductions for donors to college sports who use their contributions to get tickets to games.
A month ago, Obama revealed his plan that would no longer let donors deduct four-fifths of the value of a gift made to a school, even if priority seating rights they get in exchange are worth more than one-fifth of the gift’s value. It was thought that Obama’s plan would not likely to become law soon because the constitution gives congress the power to lay and collect taxes, and Republicans, who control congress, were sharply critical of the plan.
But as Robert Wood wrote yesterday, White House Press Secretary, Josh Earnest, says the President was “very interested” in raising taxes through executive action. The President wants to deny tax deductions for donations linked to sports tickets. Many colleges and universities rely on event tickets to goose alumni contributions. Today, if you give to charity and your contribution makes you eligible to buy advance tickets, you can only deduct 80% of your contribution, not 100%. The White House says no part of your donation should be deductible, period.”
