


Jeff Stein of the Washington Post has written a piece headlined: “They’re rich. They’re anti-Trump. And they don’t want their big tax cut.”
It opens with an anecdote about a rich Democrat named Kimberly Hoover, whose accountant says her family will save several million dollars over the next few years due to the Republican tax law enacted earlier this month. “While many Americans might rejoice at that kind of windfall, Hoover worked hard to stop it from becoming a reality, arguing to lawmakers that she has more money than she needs,” Stein writes.
This quote is the best:
“At some point, it starts to feel wrong. It starts to feel excessive. It starts to feel somehow inappropriate. And at some point, it just doesn’t feel good,” said Hoover, who spoke while on break from a sapphic literature conference she helps sponsor in Albany. “Imbalanced is really not good for anyone, even if you’re on the positive end of that imbalance, because it’s unsustainable.”
The piece also quotes investment executive Bob Elliott as saying, “The classic question is how much do you worry about it benefiting yourself versus the societal consequences — that’s the trade-off.”
It doesn’t have to be a trade-off for them personally. The Treasury has a solution for Hoover’s anguish. Since 1843, there has been an account at the Treasury that accepts gifts to the United States. “Money deposited into this account is for general use by the federal government and can be available for budget needs,” the Treasury website says.
Let’s say Hoover wanted the top tax bracket to increase back to 39.6 percent instead of staying at 37 percent, as the GOP law said. Or maybe she would prefer that the U.S. had Sweden’s top rate of 56 percent, or France’s top rate of 50 percent. When doing her taxes next year, her accountant could calculate what her tax liability would be at the higher rate, subtract what she actually owed under the law, and make a payment for the difference directly to the Treasury.
Treasury makes it easy: She can give online at pay.gov with a bank account or credit card. If she’s old-fashioned, she can make out a check to the United States Treasury and mail it here:
Gifts to the United States
U.S. Department of the Treasury
Reporting and Analysis Branch 2
P.O. Box 1328
Parkersburg, WV 26106-1328
So far this year, the account has received $434,541.65. Last year, it took in almost $3 million.
Rich Democrats who support higher taxes can be the change they want to see in the world. They could get together and start a movement to write checks to the Treasury. They’d get glowing press coverage and would be relieved of their supposed burden of having too much money. But something tells me they’ll take the tax cut.