Topic: Decline of the West
I was totally on board with New Jersey Governor Chris Christie when he advised Warren Buffet to just shut up about being under-taxed. As Christie pointed out, if Buffet thinks he’s not paying enough, there’s nothing to stop him from sending an additional check to the Department of the Treasury.
But then I had a brain wave. If it’s really true that the nation is full of guilt-ridden rich people like Buffet, why not give them an opportunity to soothe their consciences without dragging other people into a higher tax bracket?
Under Tom’s Rule, any taxpayer with an anticipated annual income of $1 million or more could opt to pay taxes at a higher rate by signing a Fair Tax Contract with the IRS. This contract would be valid for five years and would be renewable at the taxpayer’s option. If the taxpayer’s income should happen to fall below $1 million for any year during the term of the contract, the normal, non-contractual tax rate would apply instead. Contracting taxpayers would receive a Certificate of Appreciation, signed by the President and suitable for framing, plus a four-color FAIR TAX PATRIOT bumper sticker.
Newt Gingrich never had an idea this good!
