OK all you billionaires out there who worry about paying a lower percentage of your income in taxes than your secretary, here’s your chance to pony up—for the country.
The House of Representatives just passed the Buffett Rule Act with a voice vote. Now Warren Buffett, Bill Gates, and Ted Turner (is he still a billionaire?) can give all they want to Uncle Sam just by checking a box and writing in a number. Assuming the Act moves through the Senate and gets to the president’s desk of course. And assuming the president signs it.
I think one can actually already give over what one owes to the IRS if one wanted to, but this little provision in the tax code will make it that much easier for those busy billionaires.
On behalf of America, I say thank you Mr. Buffett for forking over your productive capital to the vast black hole that is the US government. It will make the world a better place.