Legislation was passed by the House of Representatives this past week that allows anyone who believes he/she is not paying his/her fair share in taxes to voluntarily contribute more in tax revenue to the Department of the Treasury. There has been a law similar to this in the Internal Revenue Code for a long time, but the common name of this bill is “the Buffett Rule Act of 2012″ after Warren Buffett, the President’s ultrawealthy proponent for higher taxes.

Although this new law passed by majority in the House, it is unlikely to be brought for a vote in the Senate, and even if passed there, would not be signed by the President. This law has been pure politics by the House, but, understandably, was used to combat the politics of the ultrawealthy who want to increase tax burdens for everyone, when only a select few say they can afford more in taxes.
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My belief in all of this is that taxes are always going to be an issue. You, as a taxpayer in southwestern Oklahoma, or anywhere in the United States, are not required to pay any more than the law requires. The use of allowable deductions, special rates, and exemptions is perfectly valid. If the “loopholes” are viewed by Congress as not as intended, then Congress needs to change the law rather than pander to the loudest complainers.