Introducing…IRS Form 1040 (Schedule $)
Although it hasn’t yet been released in its entirety, President Obama’s 2010 proposed budget – which checks in at the tidy sum of $3,000,000,000,000 (zeros included for dramatic effect) – has already come under fire.
Among the most vocal detractors are Republicans and other pesky “rich” people who now face the unpleasant prospect of parting with a larger percentage of their hard-earned income (or ill-gotten gains, depending on your political leanings) through higher taxes.
It’s not that these fine Americans don’t want to pay their “fair share” as so many liberals claim. It’s just that they do not like to pay for something without knowing exactly what they are getting in return. In that regard, they’re a lot like us regular folks.
You wouldn’t go into a restaurant and tell the waiter “just bring me what ever you got leftover in the kitchen.” You wouldn’t go into a department store and tell a clerk to “just grab me a handful of clothes off the rack.” Yet, every year we allow our government to take our tax dollars and spend them however they want. What fun is that? If we are going to be paying, we should be doing the shopping.
That’s why I am introducing IRS Form 1040 Schedule $. As far as IRS Forms go, Schedule $ is pretty straightforward. After figuring up your total tax liability (line 61 on IRS Form 1040), you prepare Schedule $ by allocating each dollar of your tax bill to a federal budget category. You essentially tell the Feds how you want your tax money to be spent. Government spending would then be limited to the amount that the taxpaying public allocated to any given category. If no one allocates money for bailing out the automobile industry…then the carmakers get nada.
Finally. A tax form I look forward to completing.
Get your copy of 1040 Schedule $. (Disclaimer: Not an actual tax form).
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