In response to Naomi Sobel of Wealth for the Common Good (“Raise My Taxes, Please,” The Reporter, March 5). The problem with Ms Sobel’s proposal is that it never stops with just one tax increase. I will share a very current example.
The Alternative Minimum Tax went into effect in 1970. It was intended to target just 155 high income people that were eligible for so many tax breaks that they owed little or no federal income tax. However, the AMT evolved significantly from there with substantial changes in 1978, 1982, 1986, 1990, and 1993, among others. The initial AMT tax rate was 21 percent. Now it is 28 percent. But what is worse, AMT was not indexed to inflation, and now millions of middle income taxpayers are finding themselves subject to the tax every year, myself included. It is estimated that 1 in 5 taxpayers will pay the Alternative Minimum Tax this.
If Ms Sobel wishes to live by her grandfather’s sage advice of giving one-third of ones income to charity, one-third to taxes, and one-third to herself, then by all means do so. I don’t know if she does her own taxes but when I add up my Federal Income Tax, sales tax, property tax, and business and occupation tax, among others, I’m at one-third now, and I’m not wealthy like Ms Sobel. And that’s another problem. What makes Ms Sobel think someone who makes $250,000 is wealthy?
For Ms Sobel and her ilk, there is no law saying you must give your money to charity, so show us the way and without a law to make you do it, go ahead and donate your third to the government as well, but don’t try to make a law saying I should do the same.
Steve Sheehan
Issaquah