But I think he's missing a few key points. He says the Obamas' charitable contributions only spiked to 5 percent of their income in 2005, ostensibly when they started looking toward the White House. However, 2005 is also the year that Barack Obama's book became a bestseller, which (it's well publicized) allowed him to pay off his student loans for the first time. I'd say that would affect your ability to give to charity.
Jacoby also says you "dont' have to be rich" to realize that it's a bad idea to tax the top tier of taxpayers -- 1 percent of whom pay 40 percent of the taxes in America.
HELLO -- you're missing the obvious caveat that this indicates how lopsided income distribution is in this country!! And you think it's a BAD idea to give poor people a tax break?