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    Sunday, April 28, 2024

    Stick to tax facts, not partisan hype

    Raising Taxes? I take issue with columnist David Collins relying on inaccurate and biased allegations from a party-line politician (Kevin B. Sullivan, Commissioner of Revenue Services) in his column, “Republicans might raise Connecticut taxes, too," (Nov. 15), rather than real data from the actual bills before Congress or IRS. 

    The facts (https://www.irs.gov/pub/irs-soi/15in07ct.xlsx) are that only 37.6 percent of federal tax returns from Connecticut claim the state income tax deduction, and a slightly smaller percentage (probably the same filers) claim the real estate tax deduction. Over 62 percent of Connecticut taxpayers will not be affected by the loss of these state and local tax deductions. 

    The Tax Foundation (https://taxfoundation.org/who-itemizes-deductions/) reports that itemized deduction returns are much more likely from high income individuals and families. 

    There are no proposed reduction to the basic contributions limits 401(k) plans; the Senate plan has some changes to the catch-up contributions for workers over age 50. 

    I urge all your columnists to rely on real data, not political hype, as the basis for their columns.

    P. J. Rovero

    East Lyme