President Obama likes to talk about how “millionaires and billionaires” who make over $200,000 a year need “to give back a little bit more.” But by restricting charitable deductions, his proposed jobs bill would incentivize them to give back a little bit less. In today’s Wall Street Journal, former Major League Baseball commissioner Fay Vincent takes exception:

“…Mr. Obama wants to pay for much of his new jobs legislation by restricting the deductibility of charitable contributions (along with other items such as home mortgage interest and state taxes) by those he has defined as wealthy….