- Dear Abby
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I am tired of hearing House Speaker John Boehner and Senate Minority Leader Mitch McConnell moan about the high taxes that corporations have to pay (35 percent). Drop it down to 25 percent but include an Alternative Minimum Tax (AMT) of 20 percent that kicks in when they weasel their way out of the 25 percent. Most small businesses that can't afford a high price CPA to do their taxes would benefit from this cut.
On the personal income taxes, in 1985 taxes were 50 percent of all income over $100,000. Most of the Hedge fund managers make over $500 million a year but only pay 15 percent on their earnings. Romney is another case where he pays less than 15 percent on his taxes. What do these guys want us to do, give them a bigger tax cut? The votes are in, increase the taxes on these millionaires. Reduce the mortgage write offs to a $10,000 maximum.
Make some cuts to the federal pensions, including Congress, let them eat IOU's like those of us that contributed to Social Security for 40 to 50 years. Social Security is called an entitlement; what are these federal and state pensions called?
The so-called middle class, including myself, never benefited from a tax cut.