President Obama Tax Plan Hurting Charities?

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President Obama wants to limit the charitable contributions tax break for wealthier Americans.

The deduction for donating money and goods is one of the most popular for all taxpayers.

Businessman Rick Dunham has devoted his company to advising non-profits on their fundraising efforts. He said stopping tax breaks for wealthy Americans wanting to give back will ultimately hurt charities.

"It's clear the Obama administration doesn't respect the enormous impact these [wealthier] households have on charitable institutions," Dunham wrote in a column.

"At a time when charities are struggling as people continue to pull back in their charitable support, these proposals could accelerate the erosion of charitable institutions and their effectiveness," he later added.

CBN News spoke more with Dunham about President Obama's plan to raise taxes on the rich, and how this could impact charities.  Click play to watch.

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