Robin Hood in reverse

Tuesday
Jan 9, 2018 at 1:47 PM Jan 9, 2018 at 1:47 PM

To the Editor:

The Republican tax bill is a black mark in the history of the United States. We are supposed to be a democracy, but the Congress is ignoring the will of the people and voting according to where their money comes from.

The bill will eliminate the estate tax entirely. The Republicans have the nerve to say that an inheritance tax is "unfair." Even after the tax on Sam Walton's estate, three of his children have over $38 billion each. Without having had to work for even a day in their lives, each of them can invest their money conservatively and still enjoy incomes greater than 4000 middle-class Americans who have to work hard to support themselves. What is unfair is for families to support generation after generation living in high fashion without having to work for it.

The tax bill perpetuates the "carried interest" provision, under which billionaire heads of hedge funds, that contribute nothing to the economy, pay a maximum rate of about half what others with similar incomes pay.

Affordable health care depends on all of us contributing to its cost. The new tax bill eliminates the mandate to carry health insurance. Many of the young and healthy, who don't expect to need it, will stop paying their share, so that the cost to others will rise. Millions who can't afford it will be left out completely. Those without insurance will go to emergency rooms, which are expensive and will have to be paid for by others.

For me, the tax bill will provide a windfall. For my son who struggles to make ends meet, the tax bill will make it even tougher for him and his family. It takes from him and gives to me. It's immoral!

Economists agree that what works best is to use deficit spending to stimulate the economy in a recession, and then to run a surplus in better times to reduce the debt. Now, when we have full employment, is the very worst time to increase the deficit.

Some call the tax bill a "giveaway." A better term would be "takeaway," by which the rich, using their money to buy the Congress, take money away from those whose work creates their wealth and give it to the rich,

Milt Lauenstein

Exeter

 

 

Tuesday
Jan 9, 2018 at 1:47 PM Jan 9, 2018 at 1:47 PM

To the Editor:

The Republican tax bill is a black mark in the history of the United States. We are supposed to be a democracy, but the Congress is ignoring the will of the people and voting according to where their money comes from.

The bill will eliminate the estate tax entirely. The Republicans have the nerve to say that an inheritance tax is "unfair." Even after the tax on Sam Walton's estate, three of his children have over $38 billion each. Without having had to work for even a day in their lives, each of them can invest their money conservatively and still enjoy incomes greater than 4000 middle-class Americans who have to work hard to support themselves. What is unfair is for families to support generation after generation living in high fashion without having to work for it.

The tax bill perpetuates the "carried interest" provision, under which billionaire heads of hedge funds, that contribute nothing to the economy, pay a maximum rate of about half what others with similar incomes pay.

Affordable health care depends on all of us contributing to its cost. The new tax bill eliminates the mandate to carry health insurance. Many of the young and healthy, who don't expect to need it, will stop paying their share, so that the cost to others will rise. Millions who can't afford it will be left out completely. Those without insurance will go to emergency rooms, which are expensive and will have to be paid for by others.

For me, the tax bill will provide a windfall. For my son who struggles to make ends meet, the tax bill will make it even tougher for him and his family. It takes from him and gives to me. It's immoral!

Economists agree that what works best is to use deficit spending to stimulate the economy in a recession, and then to run a surplus in better times to reduce the debt. Now, when we have full employment, is the very worst time to increase the deficit.

Some call the tax bill a "giveaway." A better term would be "takeaway," by which the rich, using their money to buy the Congress, take money away from those whose work creates their wealth and give it to the rich,

Milt Lauenstein

Exeter

 

 

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