Letter: Some questions for Rep. Tipton
Originally addressed Dear Rep. Scott Tipton,
I have one question for you after reading your guest opinion in the Post Independent: Have you read the tax plan? I disagree with your findings after rushing this bill through so fast and furious without any bipartisan help. You said, “It is a real victory for the American people.” Did you know it is not? Over 10 years based on the budget it will take away $80 billion for housing assistance for people that really need it, it will take away $63 billion from really sick people and children through Medicaid. It will take away $140 million from the Supplementary Nutrition Assistance Program that feeds hungry children.
Here’s where it goes: $270 billion goes to the heirs of millionaires by reducing the inheritance tax on the really rich, and the most substantial cut goes to people with pass-through businesses, of which D. Trump owns 500. Pass-through entity is a special business structure that is used to reduce the effects of double taxation. Pass-through entities don’t pay income taxes at the corporate level. Instead, corporate income is allocated among the owners, and income taxes are levied at only the individual owners’ level.
Examples of pass-through entities include sole proprietorship, S corporations, master limited partnerships and LLCs. Major employers announcing higher wages and bonus are a one-time deal. And they are some of the biggest in the world, like Comcast. But most will just put money in their shareholders’ pockets. These are not your constituents.
Also, you stated that the first $12,000 an individual brings home is free from federal income tax? I’m not sure about that. You stated that it will allow standard property and state and local tax write-offs up to $10,000. I don’t believe that is correct either. What happens to our state when we don’t have tax money to fix things. Infrastructure, etc. Gov. Hickenlooper is doing a great job with our economy and infrastructure at the present time.
One last thing: You said that by eliminating the Obamacare individual insurance mandate, it’s called the Affordable Care Act. By allowing only the sick people to buy in you’ve set in place a situation where the rates will go up substantially because you have to have everyone pay into it, and 9 million people signed up this year. Oh, so we can get a bigger deduction on medical expenses, but how do we pay our medical bills?
OK, good for you on doubling the child and dependent care tax credit. But tuition waivers again, nonsense because most of your constituents go to public education and state schools. Tuition wavers are for private schools and charters.
I think you will find out that Coloradans are not stupid. We will show you in the 2018 midterms how the American people feel.
That’s just my opinion.