Personal Tax Earmarking
miked | Apr 13, 2007 | Comments 0
A reader sent me the link to a site on Tax Earmarking. It sounds like an interesting concept. However, I question some of the benefits. For example, this concept would encourage people to file taxes earlier. Since I typically owe the Government money, I am not paying until the last possible moment. Another benefit is that it would improve tax payers attitudes. The only thing that would change my attitude about taxes is if they would lower them!
What is Personal Tax Earmarking?
This plan would allow your tax payments to be specifically allocated for items like:
- Alternative energy research
- Building a new Nuclear Submarine
- Retrofitting a Stealth Bomber
- Repairing the Hubble Telescope
Filed Under: Personal Finance 101
