opinion

Letter to the Editor: Tax cut truths

Posted 12/5/17

Knowing the truth about any issue is difficult there are typically two polar opposite portrayals. Even with an objective view of the tax cut plan, gauging its effects is hard.

Thus, I don’t …

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opinion

Letter to the Editor: Tax cut truths

Posted

Knowing the truth about any issue is difficult there are typically two polar opposite portrayals. Even with an objective view of the tax cut plan, gauging its effects is hard.

Thus, I don’t fault a former letter writer’s doomsday blast at the tax cut, that is what she heard. The facts are: (1) Over the last decade, without tax cuts, the debt grew by $11.5 trillion — greatly exceeding the $1.5 trillion claimed 10-year tax cut effect on debt. (2) The tax cut goal is economic stimulation and that would help all financially and reduce the debt. That occurred after the Reagan Tax Cuts of 1981.The economy was stimulated, tax receipts in real dollars skyrocketed, revenues doubled from $500 billion to 1 trillion. (3) Despite the greater tax revenues due to tax cuts, debt increased from $1 trillion in 1981 to $2.6 Trillion in 1988 due to increased spending. The arbitrary list of program cuts that the letter writer cites depends not on “paying” for tax cuts but on economy growth (tax revenue) and fiscal restraint versus spending.

The notion that a tax cut would strip the behemoth federal government to a dysfunctional shell is simply ludicrous. The federal government is massive and is immersed in every aspect of our lives.

Government spending grew from less than $500 billion in 1950 to $3.5 trillion in 2009. Spending continues apace and cuts are necessary tax plan or not. Only with that and economic stimulation (yielding more revenue) will the debt be lowered.

Larry Von Thun,
Lakewood

Comments

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Smelly Marvin

I like my tax break!

I like the new higher standard deduction.

Im not going to complain if someone gets a bigger tax cut than me; because I'm happy about mine.

One can pay more taxes than one owes; if you feel that strongly about paying more taxes, you're welcome to do so. But you wont.

The same folks that are complaining pay less taxes than you; both actual amount and percentage.

Thursday, December 7