After failing in multiple attempts to kill the Affordable Care Act, the Republican Party has decided to go for a different golden ring [“Calculating tax reform’s impact on LI,” News, Oct. 1].
I believe the party is attempting to deceive people with stories of how these tax cuts will cause the economy to rise and pay for themselves. The repeal of the estate tax, removal of the alternative minimum tax, and cuts in corporate taxes will make our gross domestic product grow, they say, and bring jobs and revenue.
I propose a stipulation as a condition for passing this tax bill. For every quarter-point rise in the GDP, taxpayers who enjoyed the benefits of the cuts will get to keep a percentage of this bonus.
On the other hand, those same people would be charged if the GDP growth doesn’t occur. Let’s see how many Republicans would still believe in these tax cuts under those conditions.
Franz Kirsch, Northport
Losing the deduction for state and local taxes in New York is not the real problem for Long Island. The real problem is the amount of taxes we are asked to pay!
Our real estate taxes have been out of control for years, and nobody seems to want to tackle this issue. Public salaries and benefits are exorbitant, absurd and unfair.
John R. Volpe, East Meadow
The medical expense deduction could be repealed if President Donald Trump’s proposed tax changes become law. This deduction becomes most significant late in life, when medical expenses can be astronomical. Does it make sense to repeal this as the population ages? My 92-year-old mother is in long-term care on Long Island. What will happen to her deduction?
Laura Schultz, Syosset
Treasury Secretary Steve Mnuchin acknowledged that the Trump administration plan for tax reform could more negatively affect higher-taxed states. He was quoted as saying, “I don’t think it’s fair that a bunch of other states are subsidizing New York and California” [“Puerto Rico critics called ‘ingrates,’ ” News, Oct. 2].
I am deeply angered by Mnuchin’s blatant disregard for the facts. When comparing how much states get back for each dollar they pay in federal taxes, we find at the top of the list South Carolina ($7.87), North Dakota (more than $5), Florida (more than $4), Louisiana and Alabama. Those figures are based on IRS data, as well as federal grants to states and individuals who live there.
The states that receive back less than a dollar for each dollar they pay in federal taxes include, among a few others, California, Massachusetts, New Jersey and New York. In truth, blue states, with their higher state and local taxes, are the givers, and red states are the takers. They are also the ones most likely to complain about the size of the federal government.
This disproportionate federal aid that some states receive allows them to keep their own taxes artificially low. So, Mr. Mnuchin, Californians and New Yorkers are the ones subsidizing other states, not the other way around.
Susan Schneider, Bellerose
So, Gary Cohn, the president’s chief economic adviser, said that under the GOP plan for tax reform, a family might save $1,000 a year. With that savings, Cohn says, a family could renovate a kitchen or buy a new car.
Really! Please let me know where Cohn lives or shops, because I want to go there, too.
Vicki Appel, Massapequa Park