Time To Pony Up, Libs: McCain, Flake, Introduce Debt Reduction Voluntary Tax

Both McCain and Flake are positioning this legislation as a great way for taxpayers to get involved and help lower the federal debt, but, I think we can all read between the lines and understand that this is aimed squarely at Democrats who have supported this massive, unprecedented, historic, Mezcal* inspired spending binge

Two members of Arizona’s congressional delegation have introduced legislation that would allow taxpayers to “earmark” up to 10 percent of their federal income tax liability to pay down the national debt.

Sen. John McCain (R-Ariz.) and Rep. Jeff Flake (R-Ariz.) held a news conference on Capitol Hill Thursday to promote their “Debt Buy-Down Act of 2010” in the House and Senate on Thursday.

“It’s time we do something about (the debt),” McCain said. “This is, I think, one way that we could not only reduce the deficit, but reduce spending at the same time.”

So, pony up, libs! Nancy, Harry, Barack, let’s see an extra 10%, shall we?

The taxpayer “earmark” would not add to the amount you owe on your taxes — but operate like the current $3 federal campaign finance check-off box on your tax return.

Of course, if it works anything like the tax in Massachusetts, not many will actually “give back,” including the Lefties. Heck, they can do it now.

The legislation directs the Internal Revenue Service to include a line on tax returns enabling taxpayers to pay up to 10 percent of their tax liability to debt reduction. The bill establishes a trust fund to set aside the taxpayer money until it is spent on debt obligations.

The bill also requires Congress to pass spending reductions equal to the amount of debt reduction designated by taxpayers, or reductions would come from across-the-board cuts in program spending levels absent congressional action.

Of course, the legislation has little chance of passing, because it would then be a way for Republicans to beat Democrats across the head with, asking them if they have pitched in, especially since so many of them want higher taxes.

Flake told CNSNews.com that he thinks the American public would fully support the legislation and use their tax obligations to pay down the federal debt.

“I can’t imagine anybody not doing that,” Flake said. “I can’t imagine any taxpayer out there saying ‘I’m comfortable with the level of debt that I’m gonna pass on to my kids or grandkids,’ so I would expect that you’d have a sizable number of people check it off when they realize, ‘It’s not coming out of my refund. I’m just earmarking some of my money to go to pay down the debt, to do what these politicians all say they want to do anyway, and I’m just gonna force them to do it.’ ”

Actually, Jeff, you’re full of it, but, in a good way. He knows (well, damned well better know) that this is simply a thrown down gauntlet to Democrats, and that there is no way that the extra money will get Congress to spend less. Heck, they might spend more. It is an attempt to get Democrats to put their money where their mouths are.

*If you’ve ever drank Mezcal and eaten the worm, or seen someone do it, you’ll know how wild and crazy they act.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach

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