Per www.treasurydirect.gov, the newest National Debt statistics are in.
As of November 6, 2008:
Publicly held:
$6,358,998,910,837.97
Intragovernmental holdings:
$4,265,731,316,960.28
Total:
$10,624,730,227,798.25
Interest Payment October 2008:
$18,984,305,636.29
Interest Payments Fiscal Year to Date:
$18,984,305,636.29
Gifts to reduce the public debt September 2008:
$42,512.35
Gifts to reduce the public debt FY 2008:
$2,189,358.89
Gifts to reduce the public debt FY 2007:
$2,624,862.42
Showing posts with label Public Gifts. Show all posts
Showing posts with label Public Gifts. Show all posts
Sunday, November 9, 2008
Friday, May 9, 2008
Newest National Debt Statistics posted
The National Debt as of May 8, 2008
Held by Public: $5,227,965,998,741.94
Intragovernmental Holdings: $4,136,827,077,212.01
Total (May 8, 2008): $9,364,793,075,953.95
Interest Payments
April 2008 - $22,362,345,451.78
FY to date - $243,903,652,968.47
Gifts to reduce the public debt
March 2008 - $517,816.28
FY to date - $1,405,285.81
Source: www.treasurydirect.gov
Held by Public: $5,227,965,998,741.94
Intragovernmental Holdings: $4,136,827,077,212.01
Total (May 8, 2008): $9,364,793,075,953.95
Interest Payments
April 2008 - $22,362,345,451.78
FY to date - $243,903,652,968.47
Gifts to reduce the public debt
March 2008 - $517,816.28
FY to date - $1,405,285.81
Source: www.treasurydirect.gov
Friday, April 11, 2008
WSJ: The Tax Me More Act
From the Friday April 11, 2008 Wall Street Journal opinion page (A16).
We recently suggested that if Bill and Hillary Clinton are eager to pay more taxes, they should write a personal check to the U.S. Treasury to compensate for the lower tax rates they so frequently decry. And lo, here comes legislation to make it easier for the former first lady and other pseudo-populists to do just that.
California Republican John Campbell yesterday introduced in the House his "Put Your Money Where Your Mouth Is Act," which would amend the tax code to allow individuals to make voluntary donations to the federal government above their normal tax liability. The bill would place a new line on IRS tax forms to make this easy.
Mr. Campbell says he has heard the "cries" of those wealthy Americans - Mrs. Clinton, Warren Buffett, Barbra Streisand- who reject the lower tax rates passed in 2001 and 2003 and complain that they and their fellow rich don't pay enough. "It's a great injustice that citizens wishing to fulfill their dream of paying more taxes cannot simply check a box on their 1040 form to make a donation," he says. His bill would give liberals a chance to salve their consciences without having to raise taxes on millions of Americans who already feel overtaxed as it is.
Still, don't expect many to take Mr. Campbell up on his offer. The Treasury already accepts voluntary donations to decrease the nation's debt; last year it received all of $2.6 million. Apparently even most liberals would rather keep their money, or bequeath their estates to charity rather than to the IRS.
We recently suggested that if Bill and Hillary Clinton are eager to pay more taxes, they should write a personal check to the U.S. Treasury to compensate for the lower tax rates they so frequently decry. And lo, here comes legislation to make it easier for the former first lady and other pseudo-populists to do just that.
California Republican John Campbell yesterday introduced in the House his "Put Your Money Where Your Mouth Is Act," which would amend the tax code to allow individuals to make voluntary donations to the federal government above their normal tax liability. The bill would place a new line on IRS tax forms to make this easy.
Mr. Campbell says he has heard the "cries" of those wealthy Americans - Mrs. Clinton, Warren Buffett, Barbra Streisand- who reject the lower tax rates passed in 2001 and 2003 and complain that they and their fellow rich don't pay enough. "It's a great injustice that citizens wishing to fulfill their dream of paying more taxes cannot simply check a box on their 1040 form to make a donation," he says. His bill would give liberals a chance to salve their consciences without having to raise taxes on millions of Americans who already feel overtaxed as it is.
Still, don't expect many to take Mr. Campbell up on his offer. The Treasury already accepts voluntary donations to decrease the nation's debt; last year it received all of $2.6 million. Apparently even most liberals would rather keep their money, or bequeath their estates to charity rather than to the IRS.
Saturday, March 22, 2008
IRS Publication - Gift To Reduce Debt Held by the Public
Good information if you want to help reduce the National Debt. Gifts to Reduce the Debt Held by the Public ARE tax deductible. A contribution in 2008 will be tax deductible in 2009. See instructions below:
From IRS Publication 17 (2007 Tax Year)
Gift To Reduce Debt Held by the Public
You can make a contribution (gift) to reduce debt held by the public. If you wish to do so, make a separate check payable to “Bureau of the Public Debt.” Send your check to:
Bureau of the Public Debt
Department G
P.O. Box 2188
Parkersburg, WV 26106-2188.
Or, enclose your separate check in the envelope with your income tax return. Do not add this gift to any tax you owe.
You can deduct this gift as a charitable contribution on next year's tax return if you itemize your deductions on Schedule A (Form 1040).
From IRS Publication 17 (2007 Tax Year)
Gift To Reduce Debt Held by the Public
You can make a contribution (gift) to reduce debt held by the public. If you wish to do so, make a separate check payable to “Bureau of the Public Debt.” Send your check to:
Bureau of the Public Debt
Department G
P.O. Box 2188
Parkersburg, WV 26106-2188.
Or, enclose your separate check in the envelope with your income tax return. Do not add this gift to any tax you owe.
You can deduct this gift as a charitable contribution on next year's tax return if you itemize your deductions on Schedule A (Form 1040).
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