Saturday, May 28, 2011

Voluntary Taxation

While I normally do not post articles to this blog, I was struck by the delicious irony that this article detailed.  It's entitled, "Will They Tax Themselves More?" by Donna Martinez.

In North Carolina, we are facing a large budget deficit and since we have a balanced budget amendment, we must either raise taxes (fat chance!) or cut spending (finally?).  As a result, the special interest groups are howling about the cuts to their largess.  Anyway, all of this is now solved by House Bill 887.  If passed, it will allow tax payers to redirect some or all of their refunds to special government accounts earmarked for specific spending.  For example, if you think that the arts are being cut too much, then you can waive your refund and send it to the special account for the arts.  The same goes for education and several other "priority" programs.

Will the special interest groups donate their refunds to these funds?  Will they convince others to do the same?  Time will tell, but I wouldn't hold my breath waiting for it to happen. 

Special interests need and want your money.  They view the state as a parent making sure that the children share all that they have.  I view it the same way that Frederic Bastiat did over 160 years ago--it is legalized plunder.  (Or here for the pdf version.)


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