Another Bush favor hidden within legislation -

[cyberpj]

Giving trash no longer deductible
However, new law offers tax break for donations from an IRA

Earlier this month, President Bush signed a pension reform bill requiring donated clothing and household items to be in "good" condition in order to be eligible for tax deductions.

snip...
In addition to tightening the rules for deductions, the provisions also allow taxpayers 70 or older to withdraw up to $100,000 a year from an IRA without paying a tax if the money is donated to a charity. The break is temporary, though, and expires at the end of 2007.

snip...
"I don't know if this will generate new donors, but it will generate new gifts," Langloh said. "This creates an incentive because it's a way for folks to avoid significant estate taxes on their assets. Congress is trying to stimulate charitable giving in the wake of Hurricane Katrina, to get folks more energized about giving."

Who has that kind of money they would donate to a charity from an IRA? Oh, yeah... Republicans. Think Delay, Frist, Sensenbrenner, Bush, and so on. They donate it to charities of friends and families in order to get jobs or kickbacks or writeoffs to reduce profits and pay fewer taxes.

Bush. You just gotta hate him don't ya?

http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20060901/NEWS/609010362/1006/NEWS