Has any rich person ever publicly and voluntarily written a big check to the US Treasury?

[madville]

Just curious if someone like Buffet, who has advocated for higher taxes, has ever made a public demonstration by voluntarily writing a big million+ dollar check to the treasury over and above the taxes they are legally already obligated to pay?

[Swede]

1. You're missing his point.

He's advocating for fair taxation.

[madville]

6. What is a fair share?

I'm curious because I have never really had to pay income taxes, I usually make $3,000 or $4,000 over and above what I have withheld when I get a return due to the kids and the EIC. Like I had $3,000 withheld last year and got a return for $7,700.

Doesn't most of Buffet's income probably fall under capitol gains? That would be different than how his secretary gets paid (I would think at least six figures)and taxed.

[Swede]

7. At least the same rate as us working stiffs.

If not more.

[BoWanZi]

16. How does that work? You actually got a tax return for far more what you paid in taxes due to EIC?

That makes zero sense to me.

So if someone has a few kids and doesn't make much per year, they can get a tax return that is for far more what they actually paid into the system? i.e. paid in 2k for taxes yet gets a return of 5k? That is possible?

Just wondering, sounds like something is broken there.

[Obamanaut]

21. That is the way it works. There are folks who have zero federal income

tax burden, who actually get money they did not contribute because of the Earned Income Tax Credit. So, because they didn't really 'earn' much income, the fed sends them some.

[BoWanZi]

23. I really can't wrap my head around that

I am all for helping the poor and giving them a strong safety net, but the EIC in its current form just seems to be a hidden form of welfare that even the middle class can get.

What I mean is that I'm not against the EIC but it shouldn't allow someone to get a refund larger than what they put into the system. So if you paid 2k in taxes, the most you should get back at the end of the year should be 2k. If you are poor, you still should get your normal benefits.

[melm00se]

22. the EIC

is a "refundable" tax credit.

[Obamanaut]

24. "redustribution" of income. nt

[Booster]

2. That would be really stupid. Probably the person who opened

the letter would either steal it or give it to their boss & he would steal it. None of us know exactly what each dollar we pay goes towards so Hell I wouldn't even send them an extra $5.

[Abq_Sarah]

4. Because

Cashing a check made out to the United States Treasury would be a snap?

[Booster]

9. It's easier than you think. Someone took out a check from my

purse, made it out for $500, even misspelled my name, took it to my very own bank and cashed it. The bank reimbursed me because it was their mistake and they were sure embarrassed. Would you trust anyone working in the government to do the right thing with your million dollar check. I sure wouldn't.

[Abq_Sarah]

10. I send a check to the US Treasury every quarter

And I've yet to have one stolen by an employee.

[Booster]

13. But it wasn't a donation, right?

[nineteen50]

3. Not since before Reagan, now

Greed cancels out patriotism.

[Ian David]

5. Ted Turner paid our dues to the United Nations. But that's not the point.

The super-wealthy are rich beyond the reach of market forces.

They don't care how much something costs, because they can afford it.

However, super-rich-person economics means that if they want to buy something, they have to outbid other rich people to get it. Especially if it's real estate. And as long as they're all being taxed equally, it's a level playing field.

[sad sally]

8. How about if Mr. Buffet just declined all his deductions or tax write-offs

- wouldn't that be generous or maybe even the righteous thing to do one year, like the guy below?

No long ago, Treasury officials opened an envelope to find an anonymous letter from a man who had served as an Army line cook during the Vietnam War. Before he left the service, the man stashed his ruck sack with a sack of potatoes, some meat and a tub of butter to bring to his family. More than 30 years later, the man tallied up the cost of the goods in today's dollars, stuffed a handful of cash in an envelope with his confession and mailed it off.

[Lil Missy]

11. That totally misses the point, not to mention one check would amount to a spit in the ocean.

[dkf]

12. He is going to give everything to the Bill and Melinda Gates foundation where it will escape estate

Taxes.

I wish he would give it all to the Treasury instead. Why are we the people not more deserving?

And if he wanted to he could take the standard deduction and waive a whole lot of exemptions. But I doubt he did that.

[ErikJ]

14. Better idea-BUY NBC OR ABC.

Then he could have all Progressive programming and REALLY make a difference.

[MineralMan]

15. Not in any great numbers. But, you can look at gifts made

to the US treasury at the link below:

http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

It's amazing what you can find on Google, I think.

[Evasporque]

17. they write checks to accountants and attorneys to avoid writing checks to Fed....nt

[Paulie]

18. Here's an NPR Planet Money on people giving money for the debt

http://www.npr.org/blogs/money/2010/05/gifts_to_reduce_the_national_d.html

And here's the audio version: http://www.npr.org/templates/story/story.php?storyId=127206267

[tjwash]

19. Rush? Is that you?

LOL. Almost freaking word for word what limbaugh, beck, and hannity have been pounding on their shows since Buffet made that statement.

Turn off the AM radio and fox news and step slowly away....

[blm]

20. Ted Turner...to pay UN dues that GOP refused to pay when they controlled purse during Clinton era

.