Not so much the money as the camel’s nose in the tent

President Obama has four times floated the idea of capping the deductibility of charitable gifts – and other itemized tax deductions such as home mortgage interest payments and state and local taxes – for high-income federal taxpayers. Each time he has been stridently opposed by non-profit sector leaders. If the president were to revive his proposal and somehow find traction in Congress, would non-profits be justified in their concern that charitable giving would decline?