House passes new Buffett rule

[franksolich]

http://www.washingtontimes.com/blog/inside-politics/2012/sep/19/house-passes-new-buffett-rule/

Oh my.

House passes new Buffett Rule

The House on Wednesday passed Republicans' own version of the Buffett Rule, which allows wealthy Americans to voluntarily pony up to reduce the deficit.

The bill, labeled the Buffett Rule Act, passed by voice vote, meaning Democrats and Republicans agreed with it. Under the legislation, which would still need Senate approval, taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS.

"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," said Rep. Steve Scalise, the Louisiana Republican who wrote the bill.....

Okay, the whole of Nebraska is eagerly holding its breath, waiting to see if Warren checks the box.

[rich_t]

Considering he has been fighting the IRS for years over a tax issue, I doubt he will be checking that box.

[franksolich]

Considering he has been fighting the IRS for years over a tax issue, I doubt he will be checking that box.

Well, he'd better.

For years and years, Warren was a mighty popular figure in Nebraska (he lives in Omaha), someone to whom many looked up.

But then a few years ago he began whining that he didn't pay enough in taxes.

Suddenly Nebraskans started asking, "Hey, what's stopping you from sending a little extra to the IRS?"

Warren's not nearly as popular or well-liked as he used to be here.

[Lacarnut]

Considering he has been fighting the IRS for years over a tax issue, I doubt he will be checking that box.

Millions for thee but the IRS can go take a hike. From what I have read, it is almost a billion dollars over a 10 year span. No wonder he sucks up to Obama. He is a damn hypocrite. Don't know why the Repubs don't attack him.

[rich_t]

Millions for thee but the IRS can go take a hike. From what I have read, it is almost a billion dollars over a 10 year span. No wonder he sucks up to Obama. He is a damn hypocrite. Don't know why the Repubs don't attack him.

Cuz the current repub leadership is a bunch of damn pussies.

[thundley4]

Kind of meaningless since there has always been a way to give more money to the government if someone wanted to.

http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

[docstew]

Kind of meaningless since there has always been a way to give more money to the government if someone wanted to.

http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

Actually, by publicizing it, it shuts up those whiny celebs who say "raise my taxes, I make too much".

But other than that, yeah, pretty meaningless...

[J P Sousa]

  taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS.
 

Well, since Buffett is sooooo rich and feels soooo strong about "needing" to pay more taxes, I'm sure he can set up a recurring debit to his checking account until the national debt is paid in full.   


.

[Freeper]

Reid will put this bill straight in the trash can.

[Ptarmigan]

One can give money to the government as a gift called "Gifts to the United States." It has been there since 1843.

http://www.fms.treas.gov/faq/moretopics_gifts.html

[Chris_]

One can give money to the government as a gift called "Gifts to the United States." It has been there since 1843.

http://www.fms.treas.gov/faq/moretopics_gifts.html

I wonder what happened prior to 1843 that prompted the "offer".

[Kyle Ricky]

I like that bill. But I agree, Reid will put it right in the trash can. When you have a liberal who loves socialism, that in itself won't work. They have to mandate it, and force people to do it. Basically because they know that the people screaming about raising the taxes really mean raising the taxes of not themselves, but others.

[Wineslob]

The House on Wednesday passed Republicans' own version of the Buffett Rule, which allows wealthy Americans to voluntarily pony up to reduce the deficit.

The Big 0 has us so far in debt, it won't matter. We could "take" all the money from everyone making more than 250K yr and it wouldn't amount to much more than One Trillion. At that point, there's nothing left.

[Freeper]

The Big 0 has us so far in debt, it won't matter. We could "take" all the money from everyone making more than 250K yr and it wouldn't amount to much more than One Trillion. At that point, there's nothing left.

We can just print more.

[docstew]

The Big 0 has us so far in debt, it won't matter. We could "take" all the money from everyone making more than 250K yr and it wouldn't amount to much more than One Trillion. At that point, there's nothing left.

We all know that here, but the DUmb masses don't. They believe that all those evil 1%ers are sitting on hoards of cash and lighting cigars with $100 bills.

[Kyle Ricky]

We all know that here, but the DUmb masses don't. They believe that all those evil 1%ers are sitting on hoards of cash and lighting cigars with $100 bills.

One of my liberal friends has been on that the rich are hoarding trillions of dollars and not sharing any with the rest of us for over three years now. He also blames the 1% for the unemployment, the deficit, and the welfare rate. As he says; the rich are hoarding all this money, cheating on their taxes, and not hiring anyone. I called him a socialist douchebag yesterday. It upset him because he insists that he is a capitalist.