Under a little-known law enacted in 1961, Uncle Sam accepts tax-deductible contributions to pay down the country’s debt.
Let me just start out by saying, are you #$@*ing kidding me!?
Apparently individuals and estates have donated approximately 3.1 million last year.
There are so many things wrong with this on so many levels. First, putting everything else aside, why are these donations tax deductible? I admit, I am no expert in tax law, but I’m pretty sure making a deductible donation to pay down something a portion of your taxes are going to anyway doesn’t make sense. I guess they are just trying to find a way to get more money out of folks. Second, who honestly donates to this? It just encourages irresponsible government spending.
The Government isn’t a charity case, please don’t treat them like one.
The other interesting item about this article is in the graphic to the right which says the national debt ceiling has been raised eight times in the past six years. Think about this. Congress establishes a limit on how much debt the country can have. Then, like a crack-addict, enables it’s ridiculous spending habit by raising the limit so it can go further into debt. Why even kid yourself… Here’s a novel idea, when you establish a limit, stick to it!