Article Summary:
- Administration turning philanthropy into a class issue
- Backlash from "rich liberals"
- Universities and charities "scored" by Obama's proposition to fund public welfare partly by reducing the tax benefit to private charity ($310 billion over 10 years)
- Estimates show annual giving could be reduced by 2%, or $9 billion
- A flat-tax incentive (that would create wealth for givers) would be ideal - but Obama quickly headed in the opposite direction
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