Get your checkbooks out, kids, time to put your money where your loud mouths are.
Feel your taxes are too low? House Republicans have devised a new convenient way for those worried about government red ink to donate more to the Treasury.
And in a dig at President Barack Obama and his favorite billionaire, they have named the bill the Buffett Rule Act after investor Warren Buffett, who has said that he and other wealthy people don’t pay enough in taxes.
The legislation, approved in the House on Wednesday and heading for an uncertain fate in the Senate, creates a checkbox on tax forms allowing taxpayers to make donations above their normal tax liability for debt reduction.
The original Obama-backed Buffett Rule bill, which failed in the Senate last April, would have required top earners to pay at least 30 percent of their income in taxes.
Obama “has used Warren Buffett as the poster-child for his class warfare scheme because Buffett complains that he doesn’t pay enough in taxes,” said bill sponsor Rep. Steve Scalise, R-La.
“The Buffett Rule Act is a common sense alternative to President Obama’s divisive class warfare calls for higher taxes, and it allows Warren Buffett and others like him to voluntarily donate more of their money to pay down our national debt if that is what they’re really interested in doing.”
We can add up all the non-selfish lefties out there willing to contribute and we’re sure to reap a windfall of at least three dollars.