Tuesday, August 23, 2011

Why Not Write The Check Warren?

Why not write it? I continue to be amazed at Warren Buffet and his demand to pay more taxes. His $6,938,744 that he paid last year in Federal taxes apparently was not enough. Why not write the check then Mr. Buffet? There is a way for any taxpayer to pay more in taxes to our spendthrift Federal government. Way back in 1843, an account was formed so that citizens could give gifts to the government including money.
From the US Treasury Website:
Gift Contributions to Reduce Debt Held by the Public

The Bureau of the Public Debt may accept gifts donated to the United States Government to reduce debt held by the public. Acting for the Secretary of the Treasury, Public Debt may accept a gift of:

Money, made only on the condition that it be used to reduce debt held by the public.
An outstanding government obligation, made only on the condition that the obligation be retired and the redemption proceeds used to reduce debt held by the public.
Other intangible personal property made only on the condition that the property is sold and the proceeds from the sale used to reduce the public debt.
Gifts to reduce debt held by the public may be inter vivos gifts or testamentary bequests.

Thus in Fiscal Year 2011 $2,035,349.94 has been given so far. With a $14.5 trillion dollar debt it helps buy our government a few more seconds of deficit spending.

So again I ask why can't Mr. Buffet and his liberal friends put their money where their mouths are? Send your billions to pay off the national debt. Your illogical economic arguments about higher taxes leave a great deal to be desired. Higher taxes on people who earn $250,000 and more are stale and do little to help our economy or economic growth. Those are income earners who are paying the bulk in taxes, not you Mr. Buffet and your liberal rich friends. Maybe Congress could pass a Buffet tax. A tax to bring your tax rate to lets say 90%? Or how about 100%? If that were to happen watch the outcry by these same liberal rich folks-how dare you take our hard earned income! But it is acceptable to tax our $250,000 millionaires in our economy?
Just write the check.

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