I am 69 years old and I cannot believe I’m the last American to remember Ronald Reagan’s tax break. It was supposed to be “trickle down.” There was very little trickle and it certainly was not down.
In the early 1980s we got the Reagan tax break. My husband and I both worked, earning good salaries, but definitely middle class. The first year we paid about $350 less than we had the year before. Then in quick succession, we were no longer able to take off our state sales tax, and the government took away the deduction for the interest we paid on our purchases that had been tax deductible. That amounted to a large increase in income taxes for all future years.
I do hope this government will not come up with new gimmicks to erase the good from new tax breaks that we taxpayers will be getting.
Everett
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