Sen. John Thune (R.-S.D.) introduced the Senate version of a bill that would make it easier for those who voluntarily wanted to pay higher taxes to do so – a tongue-in-cheek jab at President Obama’s proposed “Buffett Rule” that would eliminate tax loopholes for the wealthiest Americans.
Thune introduced “The Buffett Rule Act of 2011†(S.1676), which would require the I.R.S. to provide a line on tax return forms inviting taxpayers to donate to the federal government. Any donations would be placed in a fund dedicated to paying down the national debt. A similar version of the bill was introduced last week in the House.
“If individuals like Warren Buffett or President Obama are inclined to donate their own personal money toward paying down the federal government’s debt, they ought to have that right to do so voluntarily,†said Thune in a statement. “This bill would make it easier for those wealthy individuals who feel they are currently under-taxed to pay more to the U.S. Treasury above and beyond their current obligations, without raising taxes on America’s job creators.â€
Talk about Prairie Values! I’m glad to see Thuneless is spending so much time drawing up legislation to help out the wealthy.