Deroy Murdock has some advice for the wealthy who don't feel they are paying enough in taxes.
The IRS simply would add a small box to the 1040 tax form beside these words:
"If you believe you should be taxed at a rate above that assigned to your income bracket, please indicate here the higher rate you prefer. Kindly calculate your tax liability, and send it in."
and when they tried something like this in the state of Massachusetts:
Massachusetts cut its top tax rate to 5.3 percent in 2001, it let guilty liberals pay the old 5.85 percent rate. According to the Massachusetts Department of Revenue, as of June 15, only 930 taxpayers chose to do so on their 2004 returns, generating an extra $246,505. In 2002, 2,215 taxpayers paid the higher rate, yielding $341,829. Among 3.2 million returns filed in 2003, only 1,488 (or 0.046 percent) paid the voluntary higher rate, adding $209,216 to state coffers.
Pro-tax Rep. Barney Frank, D-Mass., spurned the higher rate that year. "No, I won't" pay some $800 extra, Frank told Boston radio host Howie Carr.
"I don't trust the legislative leadership and Gov. (Mitt) Romney to make the right decisions, so I'll donate the money myself." How inspiring to see a confirmed progressive like Frank choose private charity over public assistance.
SeattlePi.com
