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.
Considering that the IRS already accepts donations, yet folks haven't exactly jumped at the opportunity, I'd guess this won't go over so well. Could it be that wealthy individuals feel that there are more effective, more efficient methods of aiding the poor, curing diseases, and improving society than via Uncle Sam's vast bureaucracy? Hmmm....
2 comments:
I know that when I'm making millions of dollars a year...I'll give as much away to tax deductible great causes (ministry organizations, cancer research, etc.) as I can just to avoid giving money to the government!
Good for people to know.
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