I have a feeling that if Rep. Eric Alan Rick Crawford's HR2411 bill for voluntary wage deduction to pay the public debt passes into law, it will initially be hailed as the patriotic and voluntary thing for each American to do in order to help the country stave off an imminent default. While a lot of Americans are ready to kill the tabloid maven Casey Anthony for seemingly evading justice, very few Americans demand justice for the trillions of dollars that was received in bailouts by globalist bankers and Wall $treet. See FLASHBACK: TARP Special Inspector Barofsky Says U.S. Taxpayer Bailout May Cost $23.7 Trillion!
I guess the American worker will have to pay for this bailout and other bailouts directly through the worker's wages. But wait, the bill says that deductions are only voluntary, right?
Just like the federal income tax via the IRS is supposedly voluntary per Sen. Harry Reid, the IRS will sue you and potentially throw you in jail (ask Wesley Snipes) if you fail to pay or report the voluntary taxes. My prediction if this bill passes is that at some point the deductions won't be voluntary.
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H.R.2411
112th CONGRESS
1st Session
H. R. 2411
To provide for an employee election on Form W-4 to have amounts deducted and withheld from wages to be used to reduce the public debt.
IN THE HOUSE OF REPRESENTATIVES
July 6, 2011
Mr. CRAWFORD (for himself, Mr. TIBERI, Mr. FINCHER, Mr. LANDRY, Mr. DENHAM, Mr. DOLD, Mr. FLORES, Mr. GRIFFIN of Arkansas, Mr. AUSTIN SCOTT of Georgia, Mr. HUIZENGA of Michigan, Mr. PALAZZO, and Mr. GUINTA) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To provide for an employee election on Form W-4 to have amounts deducted and withheld from wages to be used to reduce the public debt.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Reduce America's Debt Now Act of 2011'.
SEC. 2. VOLUNTARY WITHHOLDING FROM PAYROLL FOR REDUCTION OF THE PUBLIC DEBT.
(a) In General- An employee may elect for an employer to deduct and withhold upon the payment of wages by such employer amounts to be used to reduce the public debt.
(b) Requirement of Withholding- Every employer making payment of wages shall deduct and withhold upon such wages any amounts so elected, and shall pay such amounts over to the Secretary of the Treasury at such times and in such manner as the Secretary shall by regulation prescribe.
(c) Transfers to Account To Reduce Public Debt- The Secretary shall, not less frequently than monthly, transfer to the special account established by section 3113(d) of title 31, United States Code, amounts equal to the amounts paid over under subsection (b).
(d) Definitions and Special Rules- For purposes of this section--
(1) WAGES, EMPLOYEE, ETC- The terms `wages', `employee', and `employer' shall have the respective meanings given such terms under section 3401(a) of the Internal Revenue Code of 1986.
(2) AMOUNTS NOT DEDUCTIBLE- Notwithstanding section 170(c)(1) of such Code, no deduction shall be allowed for any amount deducted and withheld from wages under subsection (a).
(3) ELECTION TO BE INCLUDED ON WITHHOLDING EXEMPTION CERTIFICATE- Not later December 31, 2011, the Secretary of the Treasury shall modify withholding exemption certificates (described in section 3402(f)(2) of such Code) to include the election under subsection (a). The Secretary shall include on such certificates a reasonably conspicuous statement that any amounts deducted and withheld from wages under subsection (a) are not deductible as charitable contributions for Federal income tax purposes.
(e) Effective Date- This section shall apply to remuneration paid after December 31, 2011.
SEC. 3. EXCLUSION OF PUBLIC DEBT WITHHOLDING FROM WAGES.
(a) Social Security Taxes-
(1) AMENDMENT TO 1986 CODE- Subsection (a) of section 3121 of the Internal Revenue Code of 1986 is amended by striking `or' at the end of paragraph (22), by striking the period at the end of paragraph (23) and inserting `; or', and by inserting after paragraph (23) the following new paragraph:
`(24) any amount deducted and withheld pursuant to an election under section 2 of the Reduce America's Debt Now Act of 2011.'.
(2) AMENDMENT TO SOCIAL SECURITY ACT- Section 209(a) of the Social Security Act is amended by striking `or' at the end of paragraph (19), by striking the period at the end of paragraph (20) and inserting `; or', and by inserting after paragraph (20) the following new paragraph:
`(21) Any amount deducted and withheld pursuant to an election under section 2 of the Reduce America's Debt Now Act of 2011.'.
(b) Unemployment Taxes- Subsection (b) of section 3306 of the Internal Revenue Code of 1986 is amended by striking `or' at the end of paragraph (19), by striking the period at the end of paragraph (20) and inserting `; or', and by inserting after paragraph (20) the following new paragraph:
`(21) any amount deducted and withheld pursuant to an election under section 2 of the Reduce America's Debt Now Act of 2011.'.
(c) Wage Withholding- Subsection (a) of section 3401 of such Code is amended by striking `or' at the end of paragraph (22), by striking the period at the end of paragraph (23) and inserting `; or', and by inserting after paragraph (23) the following new paragraph:
`(24) any amount deducted and withheld pursuant to an election under section 2 of the Reduce America's Debt Now Act of 2011.'.
(d) Effective Date- The amendments made by this section shall apply to remuneration made after December 31, 2011.
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