Tuesday, August 25, 2009

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


At 8/25/2009 9:00 AM, Anonymous Rand said...

Can I get my hot dogs from Whole Foods instead of from Oscar Mayer?

At 8/25/2009 10:30 AM, Anonymous Junkyard_hawg1985 said...

Unlike 80% of millionaires, Chuck Collins inherited his wealth instead of earning it. His view of wealth creation is distorted. It is much easier to support higher taxes when you have done nothing to earn you wealth besides having the right DNA.

At 8/25/2009 10:40 AM, Anonymous Anonymous said...

Funny how wealthy people like Mr. Collins advocate higher taxes on income, not wealth. He's already got the wealth, so higher taxes on his income won't do him as much harm as those working hard now to get in his position. Perhaps he keeps score with his bank account and wants to disadvantage the up-and-coming competition.

At 8/25/2009 10:47 AM, Blogger juandos said...


These people are idiots!

I can't think of another word to describe them...

If they want to throw money away (as is all money given to the federal government now a days) why don't they throw it my way?

I can at least keep many people employed quite nicely by being a fun loving S.O.B....

At 8/25/2009 12:13 PM, Blogger KO said...

Warren Buffet keeps complaining he doesn't pay enough taxes. But he can create the single largest private tax liability in human history by simply selling his shares and immediately buying them back. As long as he identifies old lot sales for the IRS, he'll still maintain his holdings but will have billions of dollars in capital gains.

Why doesn't he just do that and then we'll all feel better?

At 8/25/2009 9:28 PM, Anonymous geoih said...

Collectivists are only interested in doing 'good' if it's mandatory for everybody to do the same 'good'.

At 8/26/2009 12:24 PM, Blogger sethstorm said...

...and closing foreign tax havens to Americans.

No problem here. Just follow it with a massive tax cut or bind such a measure with a tax cut.


Post a Comment

<< Home