In 2009, President Obama proposed limiting the rate at which itemized deductions can reduce tax liability to

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In 2009, President Obama proposed limiting the rate at which itemized deductions can reduce tax liability to 28 percent. What would this do to the price of charitable donations for an itemizing taxpayer in the 35 percent tax bracket? If the price elasticity of demand for donations is 1.0, how would this affect charitable donations by itemizers?

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Public Finance

ISBN: 9780073511351

9th Edition

Authors: Harvey Rosen, Robert Guell, Ted Gayer

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