Obama Shows Lack of Knowledge of Economics

Obama really messed up on the question about the deduction for charities. Does he understand Economics 101? Or, does he think that the “evil rich” give without any thought of the tax consequences? A lot of Democrats aren’t going to like this one too!

Also, notice that he completely missed the point of the questioner about what would be the impact on the needy. He was just obsessed with taxing the rich. Does he think it’s fair when the amount of help that goes to the poor get is reduced? I’m reminded of his answer to a question during the campaign about the capital gains tax where he didn’t care about the effect it has on economic growth. He was only concerned that the rich pay higher rates out of his sense of what is fair.