We need a better tax reform | Letter

Our tax system is in need of reform. Wages have not risen meaningfully in decades. The unemployment rate is low, but it masks many people who have given up on working and trying to find work. Corporations have huge cash piles that they are parking overseas and not investing.

The current tax bill in Congress does not address these problems. The largest corporations are already making use of our tax code to pay tax rates in the single digits. These companies are not suddenly going to decide to give their workers raises or open more headcount. Wages rise when companies have to pay more to fill a job or retain existing workers. As long as workers accept job offers for a certain wage companies will continue to pay that wage and not more. Companies will hire more when they see opportunity to make more money if only they had more workers.

If our politicians are going to tackle the challenge of tax reform they should put forth policies that will benefit those who actually need it. The Earned Income Tax Credit has been a successful program boosting wages and helping to raise people out of poverty. There has been bipartisan support for expanding it for decades, but there are no changes as part of the current bill. The Child Tax Credit, another credit very important to working families, was expanded somewhat. The maximum value was raised, but it also raised the income threshold. According to the Center on Budget and Policy Priorities, a single working mom with two kids making $14,500 a year would see an additional $75 while a married couple with two kids making $500,000 a year would see an additional $4,000.

We should not accept the current tax reform bill. We need those who can most afford it to pay their fair share. We need to stop the loopholes that allow large corporations to ship their money overseas to avoid taxes. We need to provide relief to those that actually need relief.

Corey Sunwold,

Kirkland

More in Opinion

Big Oil’s ‘Kool-Aid’ | Letter

Voters drank Big Oil’s “Kool-Aid” on Nov. 6 and rejected Initiative 1631.… Continue reading

For unsolvable problems | Letter

For unsolvable problems The key to solving any problem is to understand… Continue reading

Non-addictive pain management | Letter

Dear high school student, If you get your wisdom teeth removed, take… Continue reading

A reverse mortgage may save the family home | Coming of Age… Again

The federal government has a program in place to help seniors through this process.

A faithful response to hate | Letter

In response to the fliers recently posted in the Kirkland area by… Continue reading

Hate has no home here | Letter

Recently it was brought to my attention that fliers promoting racism and… Continue reading

Kudos for running thoughtful letter / Letters

Orchids to John Scannell for his well-written letter in your Oct. 5… Continue reading

I am going all in on Initiative 1631 / Guest column

As a physician, few things are more gut-wrenching than watching a patient… Continue reading

Vote no on Initiative 1639 | Letter

As a woman, and a legal professional who assists women in domestic… Continue reading

Proposition 1 will focus on property crimes | Letter

Kirkland is proposing an important measure to advance public safety services in… Continue reading

Kavanaugh should be rejected | Letter

I find Republican caviling at the Brett Kavanaugh hearings baffling. For just… Continue reading

Having a ‘best friend’ ready to help you manage – powers of attorney | Coming of Age…Again

A power of attorney is easy to create and get signed but it can be abused.