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12:20 PM Tue, Sept. 25th

Letter: Tax code tells more than meets the eye


As someone who prepared taxes in the past I have to respond to Ron Woerner's letter of April 26. Mr. Woerner tries to make the argument that the Romney's (poster family for the left's version of tax reform) do not pay their fair share in taxes. He begins with some good points about tax rates and effective tax rates but then his argument falls apart.

He correctly states that the Romney's effective tax rate was 14 percent in 2012 and then states the same as the tax rate for a couple making $17,000. A review of the 2013 tax rates shows that a couple that makes $17,000 has a tax rate of 10 percent. After the personal exemptions of $7600 ($3800 x 2) and the standard deduction of $11,900 this couple has a taxable income of -$2500 for an effective tax rate of 0 percent. Now let's say that folks like the Romey's have AGI of one million dollars and an effective tax rate of 14 percent that would mean they would pay $140,000 in federal taxes. I don't know but maybe the Romney's should ask for tax relief!

One thing I learned from doing taxes was that folks that made little and folks who made over $200,000 or owned a business had a common bond. They did not like the tax system. While we can all complain about some aspect of the current tax code, all things considered it's not a bad system. The only folks that take it on the chin are single folks and the non-custody divorced parents. As Paul Harvey would say, "now you know the rest of the story."

Michael Oskins