Jack Frohbietr, of Cranbury
As we watch the spectacle of President Obama, House Speaker Pelosi and Senate Majority Leader Reid argue over the tax legislation. there are several things to keep in mind.
First, there are no tax cuts being proposed. The argument is about whose taxes to raise.
The income tax rates for all taxpayers will increase Jan. 1 unless action is taken. There are no tax rate reductions proposed. It is important to the economy to at least preserve the current tax rates, but recognize there is no stimulus in keeping the rates unchanged, only the avoidance of negative impacts.
Our dishonest politicians are also lying about an estate tax decrease. The tax rate on estates today is zero. Only in Washington could a discussion about changing a tax rate from zero to 35 percent be called a tax cut. Again, there is no estate tax cut under discussion.
Also being discussed is a one-year, 2 percent reduction in the Social Security tax rate. This is just a dishonest way to provide another one-time stimulus payment like the one that didn’t work last year. We already have a Social Security system that is in deficit and rapidly approaching insolvency, and we are going to reduce its funding.
We need a serious reduction in government spending. Perhaps the biggest insult to us from this discredited lame-duck Congress is the earmarks being put into the legislation. We deserve an up or down vote on the tax-rate change.
Call your senator and representative and tell them to insist on a vote on a tax-rate bill, not a Christmas tree bill.
