The Honorable John Campbell
United States House of Representatives
1728 Longworth House Office Building
Washington, DC 20515
Dear Representative Campbell:
On behalf of the 362,000 members of the National Taxpayers Union (NTU), I write in support of your legislation, the "Put Your Money Where Your Mouth Is Act." This legislation would amend the Tax Code to allow taxpayers to make voluntary additional contributions to the federal government, should they feel their tax burden is too light.
Many in Congress, a body consisting mostly of wealthy individuals, have argued for higher taxes on income, on investments, and on products like tobacco. These taxes would severely hurt millions of hard-working Americans, as well as harm our economy in a time of uncertainty.
Instead of imposing higher taxes on folks who may not be able to afford them, your legislation allows people who can afford them to raise their taxes by themselves to a level they deem more appropriate. If even half of those clamoring for higher taxes decided to voluntarily contribute more to the Treasury, it would be a huge boost to revenues without placing unwanted burdens on taxpayers who would rather take care of their families or keep their small businesses afloat.
Billionaire Warren Buffett is fond of pointing out that he paid just 17.7 percent in taxes on $46 million in income while his employees averaged 32.9 percent. Though this number was arrived at through several manipulations of his finances, the "Put Your Money Where Your Mouth Is Act" would allow Mr. Buffett to write a check for the additional $7 million in taxes it would cost to put him on par with his employees.
NTU supports the "Put Your Money Where Your Mouth Is Act" as a way to give benevolent individuals the chance to raise their own taxes without imposing them on everyone else. In addition, should participation in this program be scant (as has been the case in several states that have enacted such laws), then at least these self-professed "philanthropists" will be exposed for the hypocrites they are. We commend you and look forward to working with you to pass this important piece of legislation.
Sincerely,
Andrew Moylan
Government Affairs Manager