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September 20, 2012
House Makes it easier for Buffet, billionaires to pay down Federal debt
The House of Representatives--on a bi-partisan voice vote--passed the "Buffet Rule Act", which allows anyone to voluntarily pay more in taxes.
Under the legislation, which would still need Senate approval, taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS."If Warren Buffett and others like him truly feel they're not paying enough in taxes, they can use the Buffett Rule Act to put their money where their mouth is and voluntarily send in more to pay down the national debt, rather than changing the entire tax code to inflict more job-killing tax hikes on hard-working Americans," said Rep. Steve Scalise, the Louisiana Republican who wrote the bill....Current law already allows taxpayers to send money to pay down the debt, but Republicans said that process is onerous. Under their new plan, taxpayers would have an easy option on their tax returns allowing them to pay more.
Under Republicans' legislation, the money would go directly toward reducing the debt.
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Interesting to note that in MA, you can voluntarily select a higher payment option on your state income tax return. Care to guess the % of the people who live in this bastion of liberalism who chose to do so?
Posted by: Mike at September 20, 2012 9:17 AMZero point zero.
Posted by: Dean Wormer at September 20, 2012 10:31 AMPaging Elizabeth "Cheekbones" Warren ...
Posted by: Monique at September 20, 2012 1:09 PMIt's good to see that Monique is sticking to the issues in this political season offering even handed analysis on the various political contests.
Posted by: Phil at September 21, 2012 5:47 AM"It's good to see that Monique is sticking to the issues in this political season offering even handed analysis on the various political contests."
That's the gold standard response when your candidate has no integrity. After this election it maybe called the Cicilline response. By the way Phil, how is Ms. Warren for small business when she supports Obamacare?
Posted by: Max D at September 21, 2012 9:34 AMYes ultra rich Mass liberals like John Ketchup Kerry want to pay more in taxes. This is why he tried to register his oceanliner in RI. Let's just give more to mama govt. She's even hungrier now that Hussein has gutted work requirements for welfare recipients. There are more people on food stamps and "disability" now than ever. This takes cash people...now fork it over! Do not fret. You will soon be one of the recipients of mama's milk bottle.
Posted by: ANTHONY at September 21, 2012 4:56 PM