Back in November 2017, I wrote an opinion on the new federal tax code, which I felt was geared more for the rich and not a tax reduction for the low and middle class. Well, I was right. However, I was not expecting it to be as bad as it is.
I saw in the newspaper that a Portland couple got a small refund in 2017; however, with the new tax code, they owe around $10,000 in federal tax for 2018, even though their income and expenses are about the same as last year. My wife and I are an older couple in the semiretired mode and had a small federal tax refund last year. This year, with close to the same income and expenses, we will owe almost $1,000.
In the next tax proposal or upcoming elections, what can we do to insist that the tax structure be adjusted with lower rates for low- and middle-income people and shift higher tax burdens to the rich and large corporations?
Fred E. Shaub
Corvallis (March 10)