Feeling undertaxed?

The Tax Me More Act

Excerpt:

We recently suggested that if Bill and Hillary Clinton are eager to pay more taxes, they should write a personal check to the U.S. Treasury to compensate for the lower tax rates they so frequently decry. And lo, here comes legislation to make it easier for the former first lady and other pseudo-populists to do just that.

California Republican John Campbell yesterday introduced in the House his "Put Your Money Where Your Mouth Is Act," which would amend the tax code to allow individuals to make voluntary donations to the federal government above their normal tax liability. The bill would place a new line on IRS tax forms to make this easy.

Mr. Campbell says he has heard the "cries" of those wealthy Americans – Mrs. Clinton, Warren Buffett, Barbra Streisand – who reject the lower tax rates passed in 2001 and 2003 and complain that they and their fellow rich don't pay enough. "It's a great injustice that citizens wishing to fulfill their dream of paying more taxes cannot simply check a box on their 1040 form to make a donation," he says. His bill would give liberals a chance to salve their consciences without having to raise taxes on millions of Americans who already feel overtaxed as it is.

Also:

Congress raises limit again as U.S. debt nears $10 trillion

Until the early 1960s, people couldn't donate money to the federal government with a specific use in mind. When a Texas woman wanted to contribute money specifically to lower the debt, she got Congress to pass a law creating a special fund for gifts. Since then, thousands of Americans have contributed, donating $1.6 million last year alone. In 2006, a 98-year-old Ohio woman donated her $1.1 million estate.

Pete Hollenbach, the bureau’s spokesman, said the names and addresses of donors are kept secret because of privacy concerns. Most of the donations are modest, with people sending checks of $25 to $50 as they express a desire to both reduce the debt and give a little something back to their country. Hollenbach said donations usually peak during tax season.

If you’d like to donate, make your check payable to the Bureau of the Public Debt. In the memo section, note that it’s a gift to reduce the Debt Held by the Public. And mail your check to: Attn Dept G, Bureau of the Public Debt, P. O. Box 2188, Parkersburg, WV 26106-2188.


Comment: My soon to be 88 year old Mother had a bad day yesterday. First she lost Daddy's wedding ring that she has been wearing on her thumb for the 9 years since his death. And then her tax accountant called to tell her she owed $ 4,000 on her taxes. She was in a panic about both when I called her last night. Turns out Mom misunderstood the accountant - he said $ 400! Feeling undertaxed? Send your check to the address above!