Megan McArdle had a lengthy post a little while back on the question of whether liberals actually believe they are undertaxed. She argued that few really believe they pay too little in taxes; what they really mean is that they would be willing to pay higher taxes as long as other Americans were forced to as well. Congressman John Campbell has introduced legislation that gives undertaxed liberals a chance to put their money where their mouths are:
California Republican John Campbell yesterday introduced in the House his “Put Your Money Where Your Mouth Is Act,” which would amend the tax code to allow individuals to make voluntary donations to the federal government above their normal tax liability. The bill would place a new line on IRS tax forms to make this easy. Mr. Campbell says he has heard the “cries” of those wealthy Americans – Mrs. Clinton, Warren Buffett, Barbra Streisand – who reject the lower tax rates passed in 2001 and 2003 and complain that they and their fellow rich don’t pay enough. “It’s a great injustice that citizens wishing to fulfill their dream of paying more taxes cannot simply check a box on their 1040 form to make a donation,” he says. His bill would give liberals a chance to salve their consciences without having to raise taxes on millions of Americans who already feel overtaxed as it is.
If the deficit is such a huge problem, and so many Americans are ready to contribute more, let’s hope Campbell’s bill gets fast-tracked. Then we can watch the tax revenue roll in.
