Sunday, November 21, 2010

Millionaires Want Their Taxes Raised

According to this publicity stunt.

More than 40 of the nation's millionaires have joined Patriotic Millionaires for Fiscal Strength to ask President Obama to discontinue the tax breaks established for them during the Bush administration, as Salon reports.
"For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you allow tax cuts on incomes over $1,000,000 to expire at the end of this year as scheduled," their website states. "We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more."

I got 2 questions:
1. When these people file their tax returns, do they take any deductions? If so, why? There's no law requiring that you take all the deductions available to you.

2. If these people really want to pay more in taxes, why don't they just give their money (however much of it they consider their "patriotic duty") to the IRS?

I'm all for voluntary taxes. These publicity stunts aren't about contributing to the general good. They're about forcing others to pay what someone else decided they should have to pay.

IOW, write your check to the IRS and STFU.