'Tax Me More Fund' raises little revenue - - The Washington Times, America's Newspaper

By Megan McArdle

The Washington Times on the fate of Virginia's "Tax me more" fund:

RICHMOND — State lawmakers can rule out Virginian's offering up more of their hard-earned money to fix the $1.4 billion budget shortfall Gov. Tim Kaine announced this week.

At least that is what a peek at the so-called "Tax Me More Fund" suggests.

Since its inception in 2002, the fund has collected a total of $10,217.04.

This is what economists call "revealed preference". What most of us are really in favor of is higher taxes on other people. If we wanted higher taxes on ourselves, we'd give the money to charity.

This article available online at:

http://www.theatlantic.com/business/archive/2008/02/-apos-tax-me-more-fund-apos-raises-little-revenue-the-washington-times-america-apos-s-newspaper/2731/