Does the USA's national debt bother you?
Do you stay up at night, consumed by fears brought on by the amount of money the government has borrowed and the growing interest rate of said borrowed cash?|
Well, now you can do your part and help the United States pay off its massive $16 trillion debt by donating to the government.
On Wednesday, House Republicans passed a bill that would allow taxpayers to check a box on their tax forms indicating that they would like to pay more than the amount they owe for that tax year, which would be used to pay the growing debt. It’s estimated that taxpayers would chip in an extra $135 million over the next 10 years.
The bill, which now has an uncertain future in the Senate, is meant to be a dig at President Obama and the famed investor, Warren Buffett. Our smarter readers will recall that the duo tried (and failed) to convince Congress to pass “the Buffett Rule,” which would have forced America’s top earners to pay a minimum tax rate of 30%.
This explains why the legislation is titled the “Buffet Rule Act” and why Democrats have been quoted as saying they support everything about the bill except the name.
Video: The Buffet Rule
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