Those running for elective office often say before Election Day they will fight for you. It is easy to become cynical hearing this and often seeing little change in anything. But today we have an opportunity, a really big opportunity, to see something happen and to see a promise kept ... tax reform.
I have been reading some recent letters about this tax reform in the paper; I have to respectfully disagree with many of them on this issue. Tax reform is the key to a broader horizon of economic growth for our county. When the country's economy expands and grows, it helps every single person in one way or another.
Taxes now are too high and the code too complicated. It also penalizes businesses so that their ability to reinvest is stifled, thereby killing job growth. It hurts the middle class by double taxation on earnings then savings and then investments, then again inheritance, with very minimal deductions for child care. The last tax reform we have had was 30 years ago and things have changed since then ... job losses, decrease in manufacturing, the rise in technology and the cyber world and the change in our family structure and life styles.
We need to have the tax code reflect today's values, needs and way of life. We need to support Congressman Katko's efforts on this matter because here in New York state we give more than 30 percent of our paycheck back to New York state and the federal government. NYS is ranked 49th among the 50 states because of high taxes on personal income, property and taxes on purchases. We need a tax reform that will double our personal or family deduction that will help offset these excessively high taxes in our state!
I appreciate that Congressman Katko is working hard in the Congress to fine tune this bill and get the best he can for his constituents while at the same time understanding the needs of all Americans, for a tax reform bill that will benefit everyone. Support him in his efforts.
Josephine D. Thomas