Many of us in this country are disturbed and extremely concerned about the growing national debt in this country. The super committee is now looking at ways to make reductions in our expenses and bringing in more revenue. I myself support raising the taxes on the wealthiest, but it occurred to me that all of us could help out. If a line item was added on our income tax form 1040 to contribute $3.00 or more to the "Reduce the US Deficit Fund" in the same way that we contribute $3.00 to the Presidential Election Campaign Fund, I would readily donate, and I think the majority of other people would too, especially those that were getting money back.
The Tax Policy Center reports that there will be 155.1 million tax units in 2011. If we collected an average of $3.00 from all of them, that would bring in $465 million a year, and over 10 years would bring in $4.65 billion - not a trivial amount! Individual contributions would be such a small amount that hardly anyone would miss it. However, it would make us all feel as if we were helping our nation dig out from under the tremendous burden of debt that we are in, rather than feeling helpless and frustrated. If the amount were left open so that we could contribute whatever we wanted, the amount would probably be even larger.
The bottom line is that most of us, Democrats, Republicans and Independents, love this country dearly, and if called upon to donate a small amount to help solve this critical debt problem, we would be more than glad to do so.
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