The Commercial-News, Danville, IL

Letters to the Editor

Facebook

January 2, 2013

We pay too many taxes

Commercial-News

DANVILLE — Editor:

As to Robert Mathews’ letter in the Dec 21 Commercial-News, he states that confiscated wealth is an illusion and more or less I do not understand the tax system.

I am 80 years old and have been retired for several years. I have had a small business for around 35 years and still have this business. I served in the Army during the Korean War and have paid taxes since my first job in 1950.

At the present time, I am paying a large amount to the IRS and real estate taxes and other hidden taxes, as we all do.

I have been fortunate and have some investments that we all have to pay 15 percent tax on, and this is on capital gains, which is not a loophole but a legal deduction that was passed and signed in law by a president.

This investment means security for later on and will mean that my wife or I will not have to go on state aid and use some of your tax dollars to keep us.

I might also note that Warren Buffett has investments in other countries and pays no taxes in our country on those investments. Also Jeffery Immelt, the CEO of General Electric, a company that pays no taxes, has been appointed by President Obama as his top outside economic adviser and has been asked by the White House to guide it in attempts to jump-start job creation.

William Engle

Danville

Text Only
Letters to the Editor
E-edition
AP Video
Obama Offers Drone Strike Defense Raw: Heckler Interrupts Obama on Guantanamo A Slice of Apple History Up for Grabs Johnson: Don't Blame Islam or UK Policy Raw: 80-Year-Old Climbs Mount Everest Wash. State Man Arrested Following Ricin Scare Chain-Reaction School Bus Crash Injures About 50 Raw: Scuffles in London After Hacking Death Texas Students Coach Teachers on Fitness New Forecasting Tool Eyed for Hurricane Season Meet MJ, the Bike Riding Tabby Cat Britain Attack Believed Linked to Radical Islam Raw: Kevin Durant Tours Moore After $1M Pledge Man Shot While Questioned in Boston Probe Weiner Launches Bid to Become NYC Mayor School Storm Protection Spotty in Tornado Zones Moore Native Toby Keith Tours Tornado Damage
NDN Video
AK-47-wielding thug may be the most bumbling crook ever Oklahoma Survivors, Heroes Survey Damage Trout's cycle a boost for Angels Raw: New Video of Deadly Oklahoma Tornado Kim Kardashian Flaunts Pregnant Bikini Body in Greece NBA star pledges $1M to help tornado recovery Shakira's Shocking Talent Morgan Freeman falls asleep on air GRAPHIC: Blood-Soaked Machete Killer Caught on Tape Elin Nordegren Furious With Lindsey Vonn For Parading Kids in Public Camera Captures Climber As He Loses Grip And Falls Helen Mirren Meets with Dying Boy in Queen Elizabeth's Place Crowd Chants '¡Si, Se Puede!' After Passage of Immigration Bill DWTS Crowns a Winner Police Ram House to End Hostage Standoff Demi Moore a Rocks Bikini at Harry Morton's Family House Anthony Weiner: I'm running for New York City mayor Kate Middleton's Dress Flies Up VIRAL: Baby makes epic soccer goal The Hangover Baby All Grown Up
Must Read