U.K. Trying to Eliminate Tax Breaks for Millionaires

Chancellor George Osborne wants to limit tax breaks for millionaires who make substantial donations to charities. The Prime Minister of the United Kingdom, David Cameron, claims that many multimillionaires are donating to charities to simply “wipe out” their income tax bills.

Osborne was reportedly “shocked” by the number of people who donate in order to receive a substantial tax break. The Chancellor was shown official reports this week from some of the richest people in the country, which showed the number of loopholes some of these millionaires are using.

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