Tuesday, January 29

Fred's Voluntary Tax Increase Suggestion Endorsed By President Bush

I was only half listening to the President's State of the Union Address last night when I heard him comment:
We have other work to do on taxes. Unless Congress acts, most of the tax relief we've delivered over the past seven years will be taken away. Some in Washington argue that letting tax relief expire is not a tax increase. Try explaining that to 116 million American taxpayers who would see their taxes rise by an average of $1,800. Others have said they would personally be happy to pay higher taxes. I welcome their enthusiasm. I'm pleased to report that the IRS accepts both checks and money orders. (Laughter and applause.) - White House
Former President Clinton is one of those people who have commented in the past about the desire to pay more taxes. Hell, if I remember correct, Senator Edwards is another one. Well, I suggested back in 2005 that if they felt so strongly about it, there is a way to pay more to the Government without having to wait for a tax increase:
Now lets give President Clinton the benefit of the doubt. From his statement, you appears eager to give up his tax cut. Well I have good news for the former President, he can donate the money back to the Government.

From the Bureau of the Public Debt: - FAQ Pages

How do you make a contribution to reduce the debt?

Please follow these important steps to make a contribution to reduce the debt. Make check payable to the Bureau of the Public Debt. In the memo section of the check, notate Gift to reduce Debt Held by the Public. Mail check to -

PO BOX 2188
PARKERSBURG, WV 26106-2188
In the 2005 Fiscal year people donated $792,000 back to the Government. I think 'we' can do much better. We just need to get the word out to the unhappy rich who don’t know what to do with their refund checks. - FFI
The current total for donations for 2007 is $2,624,862.42 and I bet that none of it came from President Clinton. While an impressive number by itself is does indicate that either this option of voluntary payment is not well known or not very popular.

Anyway the option is available to all and now thanks to the President, everyone knows about it.

President Clinton: Put your Tax Refund where your Mouth is! - 21 Sept 05

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