"Put your money where your mouth is" tax

[cptacek]

Congressman John Campbell, Republican from California, is proposing adding a line to the income tax returns to allow people to add money to what they owe in taxes. What do you think of this?

Congressman John Campbell

[GrimJack]

I believe that the IRS already accepts money to reduce the national debt - is that what this is about?

[cptacek]

I realize it is political. I think it is just calling people out who oppose the Bush tax cuts. If you really oppose the Bush tax cuts and think we shouldn't have had them, then go ahead and pay more. Here is a line on your tax form to do it.

[jc3900]

Congressman John Campbell, Republican from California, is proposing adding a line to the income tax returns to allow people to add money to what they owe in taxes. What do you think of this

I heard this same thing on a radio show. I think it was glen beck. They interviewed an IRS agent and beck asked him if anyone has ever paid significantly more money to the government than they had to. The IRS agent said it NEVER happens.

[GrimJack]

Originally Posted by jc3900

I heard this same thing on a radio show. I think it was glen beck. They interviewed an IRS agent and beck asked him if anyone has ever paid significantly more money to the government than they had to. The IRS agent said it NEVER happens.

Sorry for the mis-information, all the checks that go to the IRS are re-routed (or are sent directly) to Bureau of the Public Debt which is also in Treasury Department and I quote: "If you really don't want the money, you can send it back to the federal government. Many send money into the government to pay down the national debt," said Andrew DeSouza, a Treasury Department spokesman.

I leave it up to you to decide whether "it NEVER happens".

[cptacek]

Here are official statistics from the treasury department:
Government - Gift Contributions to Reduce Debt Held by the Public

While you are right, "it NEVER happens" is too broad a stroke, "many send money" is also too broad a stroke, IMHO. I mean, it was only $2.5 million last year. There are over 280 million Americans.

It is also tax deductible, like charitable contributions are. That's a bit ironic, I think.

[InDebtInDC]

That's one step closer to making taxes 100% voluntary.

[bjl584]

Does anyone actually believe that if you send extra money to the government that it will go to paying down the national debt?

[JimInOK]

Originally Posted by bjl584

Does anyone actually believe that if you send extra money to the government that it will go to paying down the national debt?

It doesn't matter. $2.5mm is nothing compared to the rate each legislative session piles on new debt.

Personally, I believe it's all futile until we begin to hold all candidates up to the standards of Oklahoma's Sen. Tom Coburn. Halfway through his first term, he's upheld his pledge to fight against the "way things have always been done." He's never requested a single earmark and has fought against waste whereever he sees it. He's probably the most hated man in the Senate. It's too bad he's a lone voice crying in the Washington wilderness.

[GrimJack]

Originally Posted by bjl584

Does anyone actually believe that if you send extra money to the government that it will go to paying down the national debt?

I do.