Signers of "Tax-Me" Petition Can Pay Right Now
Christian Science Monitor -- Raise my taxes, says millionaire Chuck Collins. The scion of the Oscar Mayer family supports a House panel’s healthcare plan that would boost taxes for families earning more than $350,000 a year. He also advocates ending the Bush tax cuts for the rich right away, rather than when they expire at the start of 2011, and closing foreign tax havens to Americans.
Although the financial burden would be sizable, Mr. Collins is busy urging other wealthy Americans to sign a tax-me petition. “The good news is there are still people out there willing to pay for the common good,” says Collins, whose nonprofit Wealth for the Common Good is collecting the names. As of July 21, some 210 wealthy people had signed. Collins hopes to get more than 1,000 signatures before delivering it to President Obama and House leaders.
MP: They now have more than 1,000 names on the "Tax-Me" petition to reverse the Bush-era tax cuts on wealthy households and "almost 200 of these signers have household incomes over $235,000 and would pay the tax" (full list here). I guess that means the other 800 signers either don't make more than $235,000 or just aren't willing to pay the higher taxes themselves?
But if these individuals are willing to pay higher taxes in the future once the Bush tax cuts expire in 2011, they should be willing to pay those higher taxes right now if they are so "willing to pay for the common good." So why wait? Here are the instructions from the Treasury Department's website for making a gift to the United States government today:
Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.
Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
Why doesn't the Wealth for the Common Good publish this information on its website for those signers of the petition who are willing to declare "I Will Pay Higher Taxes to Invest in My Country and I Am Willing to Pay Right NOW." Chuck Collins could be an example and inspiration to his signers by being the first to make such a gift.
HT: Dennis Gartman