Obama May Lose His Charity Deduction Plan

From George Stephanopoulos:

To pay for half of his $634 billion health reform fund, President Barack Obama has proposed limiting itemized tax deductions -- from mortgage interest to charitable deductions -- for wealthier Americans starting in 2011.

The plan may not be dead-on-arrival -- but it is pretty close.

In my reporting across Capitol Hill today, I couldn't find any strong support for the plan.

And it's strongly opposed by several key Democrats on the key Senate Finance Committee, including chairman Sen. Max Baucus, D-Mont.

But the Obama administration is pushing back.

The White House argues this would only affect the top 1.2 percent of taxpayers and about one percent of charitable contributions.

It's not the numbers that matter, it's the image of taking money away from charities. Obama hasn't figured that out yet.