1. Decide not to declare any deductions and not take any exemptions or credits on your federal income tax return. This will immediately boost your adjusted gross income (AGI) and increase the amount of taxes owed. For example, if you have a large mortgage on your home, do not take the deduction allowed on mortgage interest. Do not write off other taxes that you might have already paid. WARNING: Your accountant may question your sanity.
2. Give directly to the United States Government. Here's how, courtesy of the United States Treasury web site. Okay, in full disclosure, you are not actually paying additional income tax but you are helping to reduce the tremendous $13 TRILLION+ national debt, which reduces current and future interest payments paid by the government. Reducing interest payments frees those funds so that the government can spend on other programs.
How do you make a contribution to reduce the debt?
There are two ways for you to make a contribution to reduce the debt:
- You can make a contribution online either by credit card, checking or savings account at Pay.gov
- You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it's a Gift to reduce the Debt Held by the Public. Mail your check to:
Attn Dept GBureau of the Public DebtP. O. Box 2188Parkersburg, WV 26106-2188
Alternatively, you can provide your money as a gift to the United States Government.
If you do decide to donate or provide a gift to the United States Government, please let me know via the comment section or send me an E-mail. Any donation larger than $250 will receive a personal "Thank You!" from me, another average citizen. Also, please let me know if you would like your name added to the Honor Roll below.
The following individuals have contributed $250 or more to reduce the national debt and to help reduce the cost burden of the United States Government for all Americans. On behalf of all Americans, you have our thanks and gratitude!
[NONE REPORTED TO DATE]
See Also ...
- "Who Pays Their "Fair Share' in California?"
- "Is Warren Buffett Paying His 'Fair Share'?"
- "Pretty Pictures and a Political Rorschach Test: A History of the U.S. Income Tax System"
- "The Rich Don't Pay Taxes" Lie: Purposely Deceptive or Backed Up by Data?
- The Oppressive Progressive Income Tax: California Edition