No, not a sense of humor. What HR 2411 demonstrates is that these Republicans lack any sense at all. In yesterday’s post, I proposed a plan for paying down our horrendous national debt. Some of those who commented thought my plan was less than brilliant. But, compared to this Republican sponsored bill, my plan was pure genius.
The bill titled Reduce America’s Debt Now Act of 2011 was introduced by Rep Eric A. “Rick” Crawford of Arizona on July 6, 2011. Here is the list of the bill’s cosponsors:
COSPONSORS(12), ALPHABETICAL [followed by Cosponsors withdrawn]: (Sort:by date)
Rep Denham, Jeff [CA-19] – 7/6/2011
Rep Dold, Robert J. [IL-10] – 7/6/2011
Rep Fincher, Stephen Lee [TN-8] – 7/6/2011
Rep Flores, Bill [TX-17] – 7/6/2011
Rep Griffin, Tim [AR-2] – 7/6/2011
Rep Guinta, Frank C. [NH-1] – 7/6/2011
Rep Huizenga, Bill [MI-2] – 7/6/2011
Rep Landry, Jeffrey M. [LA-3] – 7/6/2011
Rep Noem, Kristi L. [SD] – 7/8/2011
Rep Palazzo, Steven M. [MS-4] – 7/6/2011
Rep Scott, Austin [GA-8] – 7/6/2011
Rep Tiberi, Patrick J. [OH-12] – 7/6/2011 (Source)
If any of these Congressmen are from your state you may want to send them a note and kindly ask them to take their heads out of their butts.
HR 2411 states that every worker in America should be able to voluntarily have a portion of his/her wages automatically withheld and sent directly to the Treasury Department for the purposes of paying down the federal debt.
“Every employer making payment of wages shall deduct and withhold upon such wages any amounts so elected, and shall pay such amounts over to the Secretary of the Treasury…”
Obviously, if an employee feels so compelled and should elect to have a portion of his/her paycheck withheld, the onus of responsibility is now on the employer to make it happen. The employer has to do all the paperwork, withhold the money, send the payment to the Treasury, maintain the account records, and probably submit to all kinds of new filing requirements.
You can imagine that, if passed, the bill will result in a host of new IRS regulations, complete with a battery of penalties for employers who don’t fill out the paperwork properly, submit filings on time, or make some administrative mistake.
And here is the kicker:
HR 2411 stipulates that any contribution made to the Treasury in order to pay down the federal debt IS NOT TAX DEDUCTIBLE.
Imagine this scenario: You make $100,000/year. In a fit of complete insanity, you decide that you want to withhold your entire annual salary to pay down the debt. Hey, you can always move in with mom for the next year, right?
Well guess what– Uncle Sam will gladly take your money… and then STILL expect you to pay taxes on the $100,000 that you earned, so you’d have to come out of pocket with an additional $40,000 or so.
There is more. Do skip over to Sovereign Man and read the whole article. There is a great quote from Atlas Shrugged that is a must read.
Folks, where do we find these morons? We have another fine example of Garbage In, Garbage Out. The crazy old man’s plan doesn’t look so bad now, does it? These thirteen Congressmen should be ashamed of themselves. I can’t imagine them going back to their respective states and explaining their great plan to their constituents. And if it was meant to be a joke, how much of our tax dollars were spent on writing and publishing this bad joke?
Well, that’s what I’m thinking. What are your thoughts?