Republican presidential candidate Mitt Romney’s release of his 2011 tax return sparked interest when it was revealed that Romney and his wife, Ann, donated just over $4 million to charity – about 30 percent of their $13.7 million income – but only claimed deductions for $2.25 million of charitable contributions.
By not claiming all the deductions to which they are entitled, the Romneys effectively overpaid their taxes, or paid more than would have been owed.
This has sparked some political debate on the topic of overpaying taxes – basically what would be voluntary payments by individuals to the government to reduce the nation’s debt. Congressional Republicans passed a bill recently, H.R. 6410 (otherwise knows as the Buffett Rule Act of 2012 – named after billionaire Warren Buffett who has called for greater taxation of the super-rich) that would make it easier for Americans to pay more taxes than they owe.
This, of course, begs the question: will anyone bite? With recent news that Westchester continues to be the highest-taxed county in the country (with Putnam and Rockland not far behind) support for such an initiative in the Lower Hudson Valley is far from guaranteed.
But you can tell us. Respond to the poll and answer whether or not you would overpay your taxes to help the government out.