Tax Increase for Retired
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Let us hope that the inevitable tax increase, when finally enacted by and with the Congress, will be devoid of some of the inequities in the plan proposed by the President. I refer particularly to the proposed increase in Social Security income which is taxable, from 50% to a proposed 85% for retired couples with gross incomes exceeding $32,000 a year. If my arithmetic is correct, this amounts to an increase in federal income tax for those slightly above the “break point” of 15% to 20%, a burden imposed on no other segment of our society. A reasonable increase of lesser proportions would be borne, not cheerfully, but in the spirit of shared sacrifice.
I recognize that the retirees affected by this proposed increase must appear to fulfill a tax collector’s dream; not numerically strong enough to constitute a significant block of votes, and not wealthy enough to make large contributions to political campaigns. However, there are other, less iniquitous sources of potential revenue, as pointed out in Robert Samuelson’s excellent article (“Barking Up the Wrong Tax Tree,” Commentary, Feb. 17).
ANGUS B. BOWER
Frazier Park
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