Comments on: Worried about the deficit?

By: Dan

Dan — Fri, 13 Apr 2012 22:53:25 +0000

Back around 79-80, while stationed with the Army on an Air Base in Japan, my wife and I made a $50 contribution to the Bureau of the Public Debt to help with the (then) terrible deficit problem.

They sent us a nice certificate thanking us for our contribution.

The process and paperwork, shipping and handling probably cost more than the fifty bucks we sent.

But the certificate was a beau geste.

Dan.

By: Mike

Mike — Fri, 13 Apr 2012 13:15:04 +0000

FYI –This is what Google brought up
Looks like GSA could throw 2 parties in Las Vegas with the money given in 2011. 🙂

“So far this year, individuals have donated almost $2 million to a little-known Treasury fund to chip away miniscule pieces of the country’s crushing $14.3 trillion debt. That $2 million is about .0017 percent of the $2.1 billion the United States pays every day just on the interest of that debt.”

http://abcnews.go.com/blogs/politics/2011/07/donors-give-nearly-2-million-to-reduce-public-debt/

By: Jan of MN

Jan of MN — Fri, 13 Apr 2012 05:53:23 +0000

I have just learned that someone I know has written such a check. It breaks my heart because this person is definitely not rich, and is the kind of person who always wants to “do the right thing”.

By: J.J. formerly Jimmy J.

J.J. formerly Jimmy J. — Fri, 13 Apr 2012 04:14:48 +0000

Giving extra money to the Feds is like giving cocaine to an addict. Less spending along with increased economic activity is the way forward – not higher taxes. They’ll get money beyond my legal tax owed when they pry it from my cold, dead, hands.

By: T

Fri, 13 Apr 2012 03:36:46 +0000

” . . . there is not even a patriotic duty to increase one’s taxes.”

efess,

I actually carry that one step further. If the govt is all-consuming and increasingly wasteful as it grows, I truly believe that it is every American’s patriotic duty to arrange their affairs so as to legally pay the least amount of tax.

It is our duty to starve the beast and reign it in.

By: effess

effess — Fri, 13 Apr 2012 02:30:57 +0000

Reminded of Judge Learned Hand statement on the duty to pay ones taxes:

“Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.”

By: Parker

Parker — Fri, 13 Apr 2012 00:04:53 +0000

“Warren Buffet must have missed that opportunity on his tax forms.”

Don’t forget John Kerry, George Soros, Michael Bloomberg, much of Hollywood and the music industry, and a horde of other limousine liberals.

“Total debt held by the public: $10,886,106,101,181.97”

You are a bit low there Rickl…. there are tens upon tens of trillions in unfunded liabilities coming due during the next 20 years unless the aging boomers are euthanized and removed from the social insecurity and medicare rolls.

But no worries mate, Uncle Ben will gladly create money with a keystroke.

By: rickl

rickl — Thu, 12 Apr 2012 22:23:41 +0000

I'm feeling generous. Let's see: Total debt held by the public: $10,886,106,101,181.97 Assuming a total U.S. population of 313,351,785, my current share is $34,740.85. (ulp)

By: T

Thu, 12 Apr 2012 22:22:03 +0000

Neo-neocon,

This is the great “bunker buster” for those who advocate higher taxes. If one is convinced they should pay more, simply write a check and do so.

In MA, I understand that state taxpayers have the option of choosing a lower legal (or higher voluntary) rate. I also understand that John Kerry, that proponent of higher taxes, has never opted for the higher state tax rate. I guess he’s been too busy trying to figure out where to dock his boat to avoid use tax.

By: holmes

holmes — Thu, 12 Apr 2012 21:42:31 +0000

Warren Buffet must have missed that opportunity on his tax forms.