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


In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to share your story tips by emailing editor@kirklandreporter.com.

To share your opinion for publication, submit a letter through our website https://www.kirklandreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Opinion

Cartoon by Frank Shiers
Editorial: Stopping COVID is now up to each of us

With a resurgence threatening, we need to take greater responsibility to keep the virus in check.

Back to the wild — a whole new outdoor recreation world | Guest editorial

When enjoying the great outdoors, continue to socially distance and be aware of how else COVID-19 has changed our world.

We are all in this together | Coming of age…again

How can we, as neighbors, help each other?

Earth Month 2020 and COVID-19: Caring for the planet and each other

Here are some ways to minimize your carbon footprint and protect the planet amid the pandemic.

KCLS is stepping up its commitment to patrons

KCLS has expanding its online resources so patrons can continue to learn, build skills, stay entertained and remain mentally and physically active amid the pandemic.

The true meaning of community | Guest editorial

LWTech president Dr. Amy Morrison reflects on how the COVID-19 outbreak has brought the community together.

Deserving respect for being human | Windows and Mirrors

Since the COVID-19 outbreak began, Asians and Asian Americans have been targeted. Here’s what’s been happening on the Eastside.

Thank you grocery store clerks

Recognizing the sacrifices of our unsung essential workforce.

Now is the time to be kind to each other | Windows and Mirrors

As the COVID-19 outbreak continues, it is important for us to be there for others in our communities.

To our elected officials: Be bold, be consistent, be honest, be helpful

By Patrick Grubb, Washington Newspaper Publishers Association Governor Jay Inslee has been… Continue reading

Libraries are the place to go according to poll

Library will host short film festival on March 20.

A way to keep us healthy | Letter

A problem has occurred recently that I would like to address. On… Continue reading