Tax structure continues to be a problem
To the editor:
Many stories have been written about our insane income tax methods. In the Sunday Washington Post, there is one in the business section titled “What’s the difference? A better tax break.” This story points out in great detail the tax breaks available to the very rich and the business community, not even considering the breaks that are available to other segments of society in America.
Our tax structure is so complicated that even the experts at times are at a loss to get it right. Just as one example, an individual earned $58.4 million over a period of five years and his maximum tax rate during that period was 20 percent. Families earning less than $100,000 per year averaged paying about 35 percent for taxes.
Billionaire Warren Buffett stated that many of his employees pay higher rates on taxes than he pays. This sounds like a broken record, but I can’t let it go. It is time for our highly educated financial and tax people to get their heads together and simplify our tax structure to a value-added or sales tax.
Just the expense alone of the federal employees of the I.R.S. is staggering. We should still have an income tax division, however much simpler and less expensive. It would be a pleasure if candidates wishing to become elected to our office of president would dwell somewhat on the tax problem.
Letter regarding deficit was on the mark
To the editor:
I’m 72, done a lot, seen a lot, heard a lot, but seldom have I read a letter more direct and to the point than the letter by Mr. Stryker about the deficit. I’m sure his view (outside mainstream media) is shared by many.
Knowing the facts and being able to do something about them is another matter. This bought-and-paid-for, incompetent president has insulated himself so well with various buffoons in strategic positions that there is absolutely no chance for rational economic change until he, Reid and Pelosi are gone.
Unfortunately, that won’t happen as long as Soros, Moore and the unions have giga-dollars.