=+f. Shortly after assuming office, President Barack Obama proposed repealing the 2001 tax cuts implemented by President

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=+f. Shortly after assuming office, President Barack Obama proposed repealing the 2001 tax cuts implemented by President George W. Bush, thus raising the top income tax rate to 39.6%, back to the level it was under President Bill Clinton in the 1990s. At the same time, Obama made the controversial proposal only to allow deductions for charitable giving as if the marginal tax rate were 28%. For someone who pays the top marginal income tax under the Obama proposal, what does the proposal imply for d? What about for someone paying a marginal tax rate of 33% or someone paying a marginal tax rate of 28%?

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