Tuesday, March 24, 2009

Obama Reduces Charitable Deductions

For the 5% of Americans whose household income exceeds $250,000 a year, those families can currently save $350 in taxes for every $1,000 donated to charity.

Under the new Obama plan, that amount would drop to $280 per $1,000 donation.

“By doing this, you raise the cost of giving” said Roberton Williams, a senior fellow at The Tax Policy Center, a liberal Washington think tank.

By Williams’ calculations, the change will result in a 10% drop in charitable giving by wealthy Americans, who typically contribute about 20% of all charitable dollars. In real dollars, Williams projects a decline of about $6 billion in charitable donations because of the change.

Emanuel Humes Sr. Obituary

Emanuel I. Humes Sr., a former businessman, church leader and columnist, died Wednesday in Los Angeles. He was 81.

Mr. Humes was born in Miami but spent his youth in New York City, where he was a Golden Gloves champion and leader of a street gang until he joined the Church of God of Prophecy in 1948. He met his wife, the former Lillie Melvin, at the church. They were married in 1951 and moved to Buffalo, NY.

After serving in the Army during the Korean War, Mr. Humes returned to Buffalo and began work as a labor foreman at Bethlehem Steel. He left the plant in 1969.

In 1963, he and his wife opened a beauty salon, Humes’ Styles in Beauty, which they operated for 30 years. Mr. Humes also established Humes Construction and Sullivan-Humes Painting on Jefferson Avenue. The company was hired to perform the masonry work on the City Mission, among other commercial construction projects throughout the area.

In 1972, Black Enterprise magazine recognized Humes Construction as one the top 100 minority businesses. Mr. Humes also operated a bookstore and wrote a history column for the Buffalo Challenger called “Tell Us More, Dad.”

He was active in local Democratic politics and was a life member of both the NAACP and the Urban League.

Known to many as Rev. Humes, he served as an assistant pastor, then pastor at Bethel Tabernacle and was a leader in the Church of God of Prophecy, establishing churches in Buffalo, Rochester and Olean.

He retired and moved to Los Angeles in 1996.

In addition to his wife of 58 years, Mr. Humes is survived by four daughters, Theresa Jordan, Belinda Mullen, Dyan Nispel and Denisha; three sons, Emanuel Jr., Lemuel and James; two brothers, Louis Starr and Robert; and a sister, Gloria Woods.

[from The Buffalo News]