The Democrat Presidential candidates want to increase the “taxes to the rich.” How about a voluntary tax that is available to these politicians now? A suggestion for the Democrats such as John Edwards, Mrs. Bill Clinton and her husband, Nancy Pelosi, Barack Obama, Harry Reid, Chuck Schumer and their billionaire supporters Warren Buffet and George Soros : Make a voluntary contribution of a 5-10% surcharge of your pre-tax income immediately. This is available now and they can send the checks to the Federal Government pronto.
I would ask these politicians and billionaires to disclose the amounts that they contributed with a disclosure of canceled checks. In other words put your money where your “beliefs” are.
James Lord of The American Spectator suggests that they pay up to 15% of their income with a Credibility Tax:
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Democrats are saying something else these days that complements perfectly the opportunity given them by the chance to pay the Credibility Tax. They have made much over the last several years with a charge that President Bush has not called the American people to sacrifice during a time of war. Not long ago several top Democrats in the House proposed that in the spirit of sacrifice high-income taxpayers should have a 12%-15% “war surtax” added to their tax bill if they favored the war on Iraq. There is no reason to limit this idea to paying for the war, and the beauty of the Credibility Tax is that one doesn’t have to wait for that irritating legislative procedure to make something like this a law. Democrats, who love the idea of adding programs to the federal government, could just start sacrificing right now — today — by ponying up an additional 12%-15% of their income for the Credibility Tax. Even better, the Treasury Department specifically says that paying these funds is a demonstration of “patriotism.” With that kind of applause coming straight from the government itself these candidates would be instantly vaccinated against any future “swiftboating” episodes that might churlishly challenge their love of country.
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Where would the money go once donated by these rich patriots? Why, to the plethora of federal programs liberals love. Let’s take Hillary Clinton’s list as displayed on her website. Receipts from the Credibility Tax could be used to help provide affordable health care for all Americans, reduce the cost of energy and make us energy independent, expand access to affordable, high-quality child health care, make college more affordable, protect families from predatory lenders and help them avoid foreclosures, balance the federal budget “so we don’t pass today’s massive debts to the next generation” and much, much more. This being the same Hillary Clinton who exuberantly says she has “a million ideas” for the government to spend money, you’ll understand if I list only a few. But you get the idea.
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Think of the political opportunity here for these folks. John Edwards could call a press conference in the massive new gym he’s built on his multi-million dollar North Carolina property and have a check signing ceremony before hopping his next flight to New Orleans to collect his investment from all those residents losing their homes to his favorite investment company. Hillary and Bill could have their check signing in Rep. Charlie Rangel’s Harlem, with the tax-happy chairman of the House Ways and Means Committee by their side as they signed individual Credibility Tax checks. As a matter of fact, Rangel himself could write his own Credibility Tax check, setting a superb example for his fellow tax-paying Americans. Having just proposed a half-trillion dollar tax increase over the next ten years, Rangel and his friend could get an early start on filling those Treasury coffers. With all these prominent liberals raising their own taxes 15% for this year (and why not retroactively for last year?) the fever of self-sacrifice among our liberal friends could sweep the country. After all, you can set your own tax rate when you pay the Credibility Tax. Why cut your payment as low as 15%? Why not, as most liberals favor with the capital gains tax, raise it to 30%? Or 50%? The higher the better, right?
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This from the US Treasury website:
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 6D17
Hyattsville, MD 20782
Contact the Candidates here: Barack Obama, John Edwards, Bill Richardson, US Senate Directory
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