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Donations to Pay Down Debt Soar

June 18, 2012

Today's Wall Street Journal reports the following:

"... there’s been a noticeable spike in voluntary payments made by taxpayers to pay down the government’s $15.7 trillion debt.

From October 2011 through April 2012, the Treasury Department’s Bureau of Public Debt reported it collected $5.8 million in voluntary payments from taxpayers earmarked solely for paying down the debt. That’s more than the $3.3 million collected during the entire 2011 fiscal year – which ran from October 2010 through September 2011."

This is an option that we've suggested several times in the past for those who feel that they don't pay enough in taxes.  Why be forced to pay more?  Why not write a big check voluntarily and feel better about it?  If you would like to make a gift to pay down the public debt, you can learn more here.

Flashback:  Legislation would allow tax overpayments to be directed to the public debt.

Double flashback:  Virginia's "Tax Me More Fund" Needs Help


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