New Bill in House - Ask Citizens to volunterily contribute to pay national debt

Read this article... it explains the bill and how INSANE it is...

Guest Post: Boiling Frog Alert: Congress Wants Automatic Wage Deductions To Pay Down The Debt

Obviously, if an employee feels so compelled and should elect to have a portion of his/her paycheck withheld, the onus of responsibility is now on the employer to make it happen. The employer has to do all the paperwork, withhold the money, send the payment to the Treasury, maintain the account records, and probably submit to all kinds of new filing requirements.

You can imagine that, if passed, the bill will result in a host of new IRS regulations, complete with a battery of penalties for employers who don’t fill out the paperwork properly, submit filings on time, or make some administrative mistake.

Think about it: if a small business owner has one single employee who is dumb enough to think that it’s his patriotic duty to pay down the debt and decides to contribute $1/month, that owner will have the responsibility for all kinds of new forms and filings, plus submit to new ‘debt reduction audits.’

But don’t worry, it gets even better.

So let’s say there are millions of sheep out there who elect to donate a portion of their toil and sweat so that the Chinese and big financial institutions don’t have to worry about an American default. How does Congress plan on rewarding its most patriotic citizens? By sticking it to them on their taxes, of course.

HR 2411 stipulates that any contribution made to the Treasury in order to pay down the federal debt IS NOT TAX DEDUCTIBLE.

“The [Treasury] Secretary shall include. . . a reasonably conspicuous statement that any amounts deducted and withheld from wages. . . are not deductible as charitable contributions for Federal income tax purposes.”

Imagine this scenario: You make $100,000/year. In a fit of complete insanity, you decide that you want to withhold your entire annual salary to pay down the debt. Hey, you can always move in with mom for the next year, right?

Well guess what– Uncle Sam will gladly take your money… and then STILL expect you to pay taxes on the $100,000 that you earned, so you’d have to come out of pocket with an additional $40,000 or so.

Don’t worry, though. The Social Security and Medicare wages are reduced by the amount that you withhold, making you only liable for state and federal taxes. Seems like a good deal, eh comrades?

Total insanity brought to a new level.

Maybe I would be willing to do this if the government actually listened to its people, or the representatives of the people actually listened to our voices. Maybe. They should know that the only way this might even slightly succeed is if they stop all the useless wars. And the lying. I agree that this is sheer arrogance on their part, thinking we should be responsible for their mistakes, when we advised against them in the first place.

This is like the government bailing out the banks...Simply ridiculous.

Remember folks, the income tax was originaly passed as a voluntary tax. and is still on the books as such..

Nothing the Govt asks from or of its citizens is voluntary. Govt legislation is about compliance.

If this bill passes ,in short order we will see a new tax which ALL will pay.

reply to post by BioSafe


all the peeons anyway

reply to post by Vitchilo


After reading that, I'm going to withdraw my statement on the first page.

This is a horrible idea.

reply to post by newcovenant

if everyone gave a dollar, so many of the worlds problems can be solved.

This makes complete sense. Why didn't anyone think of this before?
How many years do I have to donate a dollar? I sure hope it's not many.

The US National Debt is only around $14,354,000,000,000.
The estimated population of the United States is around 311,000,000.
So each citizen's share of this debt is around $46,000.

If just a little bit was offered from everyone we would have no problems in the world,

Exactly. Hold On.. wait a minute.. Now that I think about it.

I HAVE been giving a little bit every pay check. They call it Federal Withholding. AKA Taxes.
...and last I checked most everyone was paying it. What happened?
The world should be saved by now!

If we rounded up all these greedy, selfish nere-do-wells and shot them, I think everything would be ok then.

Maybe, but who will run our country?

How about this we give a Penney for every dollar they take off there salary and agree to drop there health coverage and buy there own!

Most of them have so many other cash flow options they would not miss it. IMHO

I think that the military industrial complex contractors, GM, bank of America, big oil, AIG, walmart, microsoft, wallstreet, and every other scumbag country in the world that we gave money to should pay back what was ripped off and leave the taxpayers alone. the government needs to cut subsidies for all big business and make them pay back what they've been lining their pockets with for years. and bring all our troops home throughout the world.

the time is now that the government waste and rape of americans must stop, and be put on notice that the next stage of operation is to defange the government and hold public executions of the traitors, just like they did in france back in the 20th century

ENOUGH IS ENOUGH

And while citizens are asked to be patriotic and pay down debt...

GOP Lawmaker Refuses To Believe The Fact That Rep. Eric Cantor Is Shorting U.S. Treasury Bonds.

Last month, Salon reported that House Majority Leader Eric Cantor (R-VA) is personally invested in a fund that “aggressively ‘shorts’ long-term U.S. Treasury bonds, meaning that it performs well when U.S. debt is undesirable.” Cantor owns up to $15,000 in the fund, which is called the ProShares Trust Ultrashort 20+ Year Treasury ETF. Cantor, who leads the House GOP’s debt ceiling negotiations, would see his ETF rise dramatically in value if Republicans allow the country to default on its debt. And as Salon notes, Cantor recently broke off negotiations over raising the debt ceiling.

thinkprogress.org...

www.salon.com...

What do Bill Gross, Evan Newmark and Rep. Eric Cantor have in common? They’re all betting against Treasury debt!
But only one of these men has been involved in heated negotiations over the government’s debt ceiling, and that’s Eric Cantor, No. 2 Republican in the House.

Mr. Cantor, who walked out of debt discussions with Vice President Joe Biden last week, owns up to $15,000 in shares of the ProShares Trust Ultrashort 20+ Year Treasury ETF, Salon notes today, updating a Wall Street Journal report on this from last year.

blogs.wsj.com...

Seeing as the debt doesn't matter, except to those that want your vote, I don't see why this bill should matter.

I've bought US bonds, I even paid extra in taxes...the government just gave it back to me at the end of the year. Still sitting on my bonds though. What more do you want from me?

"The debt is out of control! You liberals won't do anything!"



None of it matters to the GOP. All that matters is that they beat Obama. Mitch McConnel, (the senate minority leader) has made it clear multiple times, the only thing that matters is beating Obama. Not jobs, not the economy, not the debt. Beating Obama.

The Republican controlled 112th congress is the least productive congress in at least 15 years. John Boehner won't even budge on closing tax loopholes in exchange for $4 trillion in cuts! Not even raising taxes, just closing loopholes and ending tax breaks...not an actual raise in taxes.

There's only one time in our 235 year history that we had no debt (1835), it was bad for the economy (6 year depression afterwards) and we were back to borrowing shortly afterwards.

The debt doesn't matter nearly as much as the deficit. Stop thinking it does and stop electing people who tell you that.

reply to post by links234

The Republican controlled 112th congress is the least productive congress in at least 15 years.

Good. They need to do even less. The less this corrupt government does, the better.

Originally posted by sonofliberty1776
reply to post by newcovenant

 

And btw out of curiosity...What was Laura Bush's real job?

She was a school teacher iirc. Now, how much did she waste on frivolous "vacations"????????

Should Laura Bush Have Spent Over $792,000 on New China for the White House?
www.sodahead.com...

Originally posted by AmericanDaughter
reply to post by newcovenant

 

Ms. obama lost her license along with Mr. obama - yeah yeah they Gave the licenses up Riiiight...

What an educated opinion! Thank you for this.
I have a much better grasp of the subject NOW and can even see your point of view since you take the time to lay it all out and present it this way. I have noticed this trait in most all your like minded Countrymen, all so thoughtful, considerate and thoroughly analyze their subject and present many salient facts while dissecting and dismantling their opponents argument piece by piece. I appreciate that in any debate and so kudos to the Redcoats

Well...usually their argument is just a defaming slogan smeared in red paint on a placard, but who's counting? I know they call you all Patriots these days but it really doesn't matter. It is the same old white supremacist groups of southern old timers who feel they are part of Old English Royal bloodlines and are still clinging to the feudal system and still bitchin cause somebody freed their slaves. I learn something every day. Not always here on ATS but usually something new everyday.

Originally posted by Apokalypsis

Originally posted by newcovenant
reply to post by Soltari

 

I think it is a great idea.
What better way to help your country?
I might even give a few dollars every week or so toward it and I am broke.

A friend and I were discussing this yesterday...if everyone gave a dollar, so many of the worlds problems can be solved.

If just a little bit was offered from everyone we would have no problems in the world, but we have so many hoarders and skinflints who will not offer a cup of water to someone dying of thirst because one day they might need that cup of water.

If we rounded up all these greedy, selfish nere-do-wells and shot them, I think everything would be ok then.

Please tell me your just trolling and having a laugh.

You do not seriously believe this, do you? The national debt scam was created to be perpetual. Debt creates bondage and servitude. Its a means of stealing the fruits of your labor in perpetuity. There is no paying it off. Ever.

Really? Then why did we have a surplus under Clinton and into the early Bush administration?
Are you for real?

reply to post by Soltari



LOL

You expect me to pay willingly?

I try to model myself after big banks, ya know the whole screw everyone (including the govt) but me?

reply to post by Soltari


I've only read the OP so far, but I don't find the option "laughable." Obviously, any intelligent citizen would need some reassurances that the debt would not return. We would need legislation to incrementally lower the debt ceiling, and limit the authority of Congress to ever raise it again! We would need assurances that the Federal Govt budget would never outpace the normal inflation of nation. We would need it tied to some campaign finance reform, and tied in to the bills subjecting Congress to the same laws as the rest of the nation, specifically Social Security and Medicare/Medicaid. No more yearly raises for Congress, no lucrative retirement, and no special health insurance options.

If someone could tie all of those government limitations into a bill that also asked for donations from private citizens to pay down the debt, then I think citizens might actually respond to it positively.

It is clownish for the House to suggest the citizens pay back a phony debt to a bogus corporation in an effort to enrich an already fiendishly evil and pornographically wealthy elite class that feeds like vampires on the lifeblood of the working man.

Let the House pay for the debt it has incurred and leave the citizenry unmolested.

Originally posted by bluemirage5
reply to post by newcovenant

 

I'm a woman....I'm also a mother......and by God I don't have a big ar*se like hers.....so that tells me what she's not doing!

Oh that's not too racist. As if a woman can help her body type. Do you think Beyonce or even Jennifer Lopez sit on their buttocks all day? What makes them big? Maybe you should go back to elementary school and learn a little bit about biology.

You are a woman and a mother?...Congratulations and you accomplished both of those by yourself did you? I think mother always has little helpers... But still, my word...What perseverance, dedication effort and sheer will of applying yourself to your education... both of those must have took to achieve. I'm impressed.

reply to post by Adyta


Maybe it should be a prerequisite that you know what the word voluntary means before you bother responding to this thread.

Voluntary - A word meaning done, given, or acting of one's own free will. en.wikipedia.org...

And here is a link to "free will" since I know that's bound to throw you through a loop-de-doo, if you do not even understand voluntary. en.wikipedia.org...

Originally posted by bluemirage5
reply to post by newcovenant

 

hey look...I personally think the Obamas should just give it up already and come clean my floors and do my ironing. At l;east I'll pay them minimum wage and I'll make them work for every cent - honestly and respectably.

I see you have given this argument a lot of thought.
I love when I am debating someone learned on a topic and not a talking parrot.
Unfortunately I am fresh out of crackers, present company excluded and so we have nothing more to discuss. You are obviously NOT learned on any part of the topic, simply a spammer, what do you call yourself again? Phony blue thing.