Heritage Foundation Scholars respond to Obama debt reduction proposal (Part 5)

I love going to the Heritage Foundation website for articles like this:

Obama’s Debt Reduction and Tax Proposal

Heritage Responds to Obama’s Debt Reduction and Tax Proposal

Mike Brownfield

September 19, 2011 at 11:16 am

Heritage’s experts watched President Barack Obama’s debt reduction and tax increase proposal. Here are their immediate reactions:


Here’s How to Pay Your “Fair Share,” Mr. Buffett

President Obama proposes the “Buffett Rule” to make sure the rich pay their “fair share.” However, there is already a system in place for Mr. Buffett and all the other millionaires and billionaires to pay more without a new job-killing tax hike.

Here’s how. Warren and his rich pals can go to this website:http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

There they can follow these simple instructions for sending more of their money to the Treasury to reduce the national debt:

How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called “Gifts to the United States.” This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

Any tax-related questions regarding these contributions should be directed to the Internal Revenue Service at (800) 829-1040.

It is as simple as that. Now how can we stop seeing poor Warren every time we turn on the television incorrectly whining about his taxes are lower than his secretary?

Curtis Dubay

Where Will the Tax Hike REALLY Go???

Obama’s economics are at times stunning.  Proposing tax hikes in the midst of the highest and most persistent unemployment in decades is stunning.  Doing it to pay for a massive jobs package is also stunning.  But for a moment, set all that aside.

Set aside the terrible effect these tax hikes would have on jobs in America.  On investors.  On job creators.  On American competitiveness.  Set aside the cigarette tax that went to pay for expansion of SCHIP at the very beginning of the President’s term. Set aside the 18 new or increased taxes in Obamacare.  Set all that aside and consider this.

Do you believe for one simple moment that these new taxes will be used for paying down the deficit?  Or do you believe that past is prologue? The President’s own jobs package is proof: New taxes go to pay for new spending.

Alison Fraser

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