| Letters to the Editor
Taxing teens
The $69 billion tax cut bill that President Bush recently signed tripled tax rates for teenagers with college savings funds, despite Bush's 1999 pledge to veto any tax increase.
Under the new law, teens ages 14 to 17 with investment income will be taxed at the same rate as their parents, not at their own rates. Interest that had been taxed at 10 percent will now be taxed at as much as 35 percent.
In order to give tax cuts to oil companys and millionaires somebody has to pay. Why not make the teenagers pay more? They don't vote, so what's the harm?
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"The Republican Party has shown beyond all doubt that it holds the U.S. Constitution in total contempt. Today, the Republican Party stands for unaccountable executive power. To re-elect such a party is to murder liberty in America." - Paul Roberts, formerAssistant Secretary of the Treasury in the Reagan Administration earning fame as the "Father of Reaganomics" |