To Tax Cut Critics: Give Yours Back!
October 26, 2005
by: Elizabeth L. Wright

Wastewatcher, 5-Oct

Ever since President Bush and Congress passed legislation that will provide more than $350 billion in tax breaks over 11 years, the tax and spend crowd has been clamoring for their repeal.  Calling them, “tax cuts for the rich,” “evil,” and “irresponsible,” their voices are becoming even more shrill as spending for Hurricanes Katrina and Rita climbs along with the federal deficit that hit $319 billion the third highest ever in fiscal 2005.  Citizens Against Government Waste has long argued that out-of-control spending, not tax cuts, is the root cause of deficit spending.

Ironically, some of the loudest voices clamoring to roll back the tax cuts are emanating from the very rich.  George Soros called the tax cuts a way to “redistribute income to the wealthy.”  Warren Buffet believes the tax relief is a form of “voodoo” economics.  Then there are the multi-millionaire Hollywood elites such as Barbra Streisand and Michael Moore who often speak out vociferously against tax cuts. 

Curious enough, there is nothing that prevents those who despise their tax cuts from giving the money back to the government.  Since 1961, a law has been on the books that allows the federal government to accept gifts of money or other property to reduce the public debt.  For those who hate their tax cuts, all they would have to do is write a check and send it to:

ATTN:  DEPT  G
BUREAU  OF  THE  PUBLIC  DEBT
P O  BOX  2188
PARKERSBURG,  WV   26106-2188

The Bureau of the Public Debt provides information on how much has actually been given back by taxpayers to reduce the debt.  For fiscal year 2005, the tally was about $1.5 million.  Considering that Warren Buffet has an estimated net worth of $44 billion, George Soros has an estimated net worth of $7 billion, Barbra Streisand receives an average of $10 to $15 million per movie, and Michael Moore’s Fahrenheit 9-11 took in more than $120 million in the U.S. alone, it is fair to speculate that few of America’s wealthy tax cut opponents are giving their refund checks back to the government (not to mention the multi-millionaires in Congress who rant and rave about the tax cuts and consistently vote against them).

So the next time you hear someone complaining about those nasty tax cuts, maybe you should ask, “How much have you sent back to the government to reduce the national debt?”