The Richmond Bridge in London: funded with a tontine and has not fallen down. Coincidence?
Yesterday I got to reading Bruce Bartlett’s editorial in the Times, wherein he laments House Republicans’ passage of a bill advocating voluntary taxation. It’s not going to turn into anything; we’re talking about Congress, here. If it were a real law, though, HR 6410 would allow taxpayers to designate a contribution in addition to the liability on their returns for the purposes of deficit reduction. The IRS already has a fund for accepting gifts, so practically this bill that won’t become a law will not have changed anything if it does. It is called The Buffett Rule Act of 2012.