As a retiree who works as a tax preparer during the busy season, I must strongly disagree with “Tax code changes were too rushed” [Letters, Dec. 20].
The Democrats have done a very good job of scaring us into thinking that the sky is falling, and the Republicans have done a lousy job of making their case. But before you buy into that rhetoric with a negative gut reaction, you should study just how this will affect you. I think many people may be pleasantly surprised.
I filled out a mock return based on the new law by using my 2016 return. My itemized deductions were just under $20,000, so boosting the standard deduction to $24,000 was welcome. Combine that with dropping my marginal tax rate by a couple of points, and the new law will save me $1,700 to $1,800.
While I carry a modest mortgage by Long Island standards, I’ve also used the appeals process to get my property taxes reduced significantly.
Many of the people whose returns I prepare take advantage of the child and earned-income credits, along with the standard deduction. This could be a gold mine for them.
Gary Aronowitz, Plainview
Editor’s note: The writer is a retired estate planning attorney.
The use of hyperbole by the Democrats regarding President Donald Trump’s tax cut shows how terrified they are that Americans will embrace the concept of getting back more of their hard-earned money [“Mammoth $1.5T tax bill signed into law,” News, Dec. 23]. Sen. Chuck Schumer called it a “disgrace,” and Rep. Nancy Pelosi said it was “Armageddon.”
The bonuses companies such as AT&T and Boeing are paying to employees show that the Democrats’ nightmare has already begun. They’re calling these bonuses a public relations gesture. See what happens after the cuts actually go into effect. Bye, Democrats.
Michael Quane, South Hempstead
Long Island homeowners with property taxes above $10,000 who will get clobbered by the tax bill shouldn’t be fooled by Reps. Peter King and Lee Zeldin voting no on a bill they knew would pass anyway.
If King and Zeldin cared about the homeowners they represent, they’d announce they won’t support Paul Ryan as speaker of the House, won’t support President Donald Trump in 2020, and will work with Democrats to obstruct every bill Trump and Ryan want to pass.
Michael Terk, Westbury
President Donald Trump has stated that the new tax code will hurt him and that he will be a financial loser as a result.
I want him to back up his statements. He must release his tax returns so we can all see whether he is a loser, or — as I am certain the facts will prove — he is a massive beneficiary. Then the public will be painfully aware that this man pushed for legislation from which he would benefit to a much greater degree than any of the middle class that he professes to champion.
Jim Jones, Bayville
With interest, I read all the whining about the federal tax reform [“Grumblings about tax-code overhaul,” Letters, Dec. 21].
This bill is good for the country as a whole, but will cause taxpayers in high-tax states to lose some deductions. Please note that high-tax states have been controlled by Democrats, for the most part. Maybe instead of complaining about the federal taxes, we should elect officials who will work to lower our state taxes.
Tax and spend, under the shroud of “caring,” is the Democratic Party’s method of buying the votes of the poor and less fortunate. President Lyndon Johnson declared his War on Poverty in 1964, and there has been little reduction in poverty rate, from 19 percent to 14 percent of the population. It’s time to try something else.
Stephen T. Rothaug, Baiting Hollow
I support President Donald Trump, and my taxes are projected to increase by $11,000 under the new Republican tax plan. Obviously, I’m not happy!
Unlike most whining and complaining liberals, my anger is directed at tax-and-spend politicians at the state and local levels.
On Long Island, my school district has one of the highest-paid teaching staffs on the planet, and Nassau County has one of the highest-paid police forces in the country. Both political parties pander to teachers and police to secure their votes.
Stop voting for politicians who love to spend your money to keep themselves in power!
Robert Kralick, Glen Head
Now that the new GOP tax law will go into effect, we citizens of Long Island, when given lemons, must make lemonade.
Now is the time to consolidate our public schools into two districts, one each in Nassau and Suffolk counties, with one superintendent for each. There’s waste in having so many individual school districts.
Also, the same thing should be done with the towns in Nassau and Suffolk. These measures would slash taxes dramatically, and we would be within the $10,000 deduction. We wouldn’t have to worry about our property depreciating.
Joseph P. Rella, Farmingdale