Thursday, September 27, 2012
WASTING VALUABLE TIME IS APPARENTLY A JOB REQUIREMENT FOR BEING A MEMBER OF CONGRESS
Kay Bell recently told us that “Republican Tax Return Checkbox Version of Buffett Rule Passes House”.
As Kay so eloquently pointed out in her post –
“While Congress was marking time last week until it could recess until after the election, it spent its valuable limited time some important pieces of legislation.
Aside from a bill to keep the government running through March 27, 2013, the House and Senate bandied about politically themed measures to highlight their partisan positions on jobs, the economy and, of course, taxes.”
Instead of addressing the expiring tax “extenders” the idiots passed the “The Buffett Rule Act of 2012”. This Act does not replace the dreaded AMT with minimum tax rate of 30 percent on individuals making more than a million dollars a year as BO and the Democrats have proposed when coining the phrase “Buffet Rule” – it provides a checkbox on the Form 1040 that would allow taxpayers to make a voluntary contribution to reduce the deficit.
You or I could choose to add $5.00 to our federal tax liability to go to a special account that would be used to reduce the public debt. Or Warren Buffet could add $5 Million.
According to Republican Representative Steve Scalise, who introduced the bill –
"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."
While I do not support the Democratic version of the Buffet Rule Act, there is nothing wrong with this Republic alternative – and I have no problem with it. I would support passage, and may even send along $2.00 or $3.00 with my 1040.
Of course if this bill gets to the Senate it will not pass – so it is just another waste of time by the idiots we have elected to represent us in Washington.
As Kay explains in her post, individuals at any level of income who want to help to pay down the deficit have always been able to send a check to the Bureau of Public Debt. And claim a tax deduction on Schedule A as a charitable contribution for the payment!
If millionaires like Warren feel that they should be paying more federal income tax, perhaps out of a feeling of guilt for the source of their millions, they can simply write a check for what they feel is their “shortfall”.
However, when a group of protesting millionaires who, like Warren, felt that they do not pay enough income tax was publicly offered the opportunity to help pay down the deficit by writing a check to the Bureau of Public Debt, none of them offered to do so.
There is no doubt in my mind that the current members of Congress are all idiots. And I firmly believe that all current members of Congress who are running for re-election this November should be voted out (as long as they are not replaced by Tea Party members or supporters).