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Well actually any American who wants to can go to pay.gov and send in whatever extra amount they want to in order to pay down the US debt. Been able to do that for years.
Americans do send in millions of dollars; no way to say if its the left of right sending that money in.
And, if you can itemize, you can take a charitable contribution deduction for it.
Wow.. I had to register just to comment on this issue.
I am Norwegian.. I am very conscious about taxes etc etc, because me and my wife are trying to retire very early, ie before 50.
And I have NEVER heard about this tax..I can not remember to have read about anything about this in any paper!
However.. regarding our taxes. Me and my Wife earn 2 to 3 times the national average, and we pay between 35-40% of our wages in taxes. Not the 50+% I see quoted here.
Are you adding up all the taxes and fees that you pay to every government agency? Fed Income,local income, VAT, Gasoline, fee's for telephones (land and cell), Electric, entertainment,etc.
If your already at 35 to 40% with just income tax....
I have always advocated that government should cut entitlements in single bills. The Obamaphone, for instance, has a 65% fraud rate (as of last week; see, for example: 'Obamaphone' program riddled with fraud: Audit - Washington Times ; The Daily Caller has a similar article).
And the last time I checked (about three years ago), a cellphone was considered - and taxed - as a luxury in about 37 states.
But in each individual bill that cuts an entitlement, the Treasury Department should be told to open a direct deposit account for anyone who wants to volunteer their money to start the entitlement up again. Pelosi and Reid are multi-milionaires and I understand Schumer isn't hurting. Since they will be the most vociferous in their condemnation of cancelling an entitlement, they should have the opportunity to keep it going - with their money, instead of ours.
Well actually any American who wants to can go to pay.gov and send in whatever extra amount they want to in order to pay down the US debt. Been able to do that for years.
Americans do send in millions of dollars; no way to say if its the left of right sending that money in.
And, if you can itemize, you can take a charitable contribution deduction for it.
Yes you're correct. I guess it could considered somewhat of an intelligence test who willingly contributes money to pay down the debts of the fedguv?
Yes you're correct. I guess it could considered somewhat of an intelligence test who willingly contributes money to pay down the debts of the fedguv?
I doubt the Treasury or IRS who gets these payments keeps demographic data on the people making these contributions.
When I first heard about this, the anecdotal stories were it was a mixture of people who were patriotic; felt blessed by the financial success they achieved in this country; as well as people who were atoning for ill gotten or criminal financial gains.
Payment is collected electronically, no stopping required.
It's still a tax.
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