Tax questions



To the Editor:

Urban-Brookings Tax Policy Center: Nearly 70 percent of families with income between $54,700 and $93,200 a year would pay more in tax under the tax bill than under current law.

If you are in the top 0.1 percent, your tax cut would average $206,280. The tax bill will be good one way or another for the bank accounts of the president and of quite a few Republican members of Congress including Susan Collins and Bruce Poliquin.

They might like to volunteer their tax returns to disprove these allegations. We know the president will not. Both their government salaries with benefits, medical, pension and travel are in the neighborhood of $200,000 per year. Sen. Collins also receives income from a privately owned family business in Washington County. Rep. Poliquin has deep ties to the New York City and Chicago financial markets from his past employment as an investment manager.

No recent tax cuts paid for themselves. Ask Ronald Regan, he raised taxes twice to pay down deficits, or George W. Bush, the result was the Great Recession and the federal government saving the financial system with government debt.

As my 6-year-old grandson said to his grandma when she switched from sugar cookies to peanut butter cookies, “What were you thinking?”

Robert A. Rice

Seal Cove

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