To the editor: Eliminating the federal tax deduction for state and local income taxes would harm not only the taxpayers, but also churches and other 501(c)(3) organizations. (“The GOP’s tax attack on blue states,” Opinion, June 12)
Under the current tax code, many retired people who have paid off their homes qualify to itemize only because of the state and local income tax deduction. If that deduction is eliminated, these taxpayers would no longer be able to deduct their charitable contributions, and philanthropy will suffer.
Perhaps the Trump administration should be reminded of the vision President George H.W. Bush set for Americans more than two decades ago, when he encouraged each of us to be generous and part of “a thousand points of light.”
Dawn Haldane, Long Beach
The writer is an enrolled agent.
To the editor: Russell Goldsmith presents compelling arguments to encourage the California Republicans in Congress and ordinary citizens to oppose President Trump’s tax reform plan, which would eliminate state income tax and property tax deductions.
The financial implications for our state’s economy and budget are obvious, but there are also critical impacts on individual taxpayers.
The typical first-time homeowner is stretched to afford a home purchase, given high prices and the attendant property tax payment. A repeat of the 2008 housing crisis will almost certainly result as would-be buyers will be discouraged by the fact that they can no longer deduct what they pay in property taxes from their federal bill.
California Republicans must defend their constituents rather than toe the party line. Not only will there be troubling financial implications for Californians, but the jobs of GOP representatives might also be in serious jeopardy.
Thomas Oatway, Valencia
To the editor: Why does the government promote property value inflation by allowing both property tax and loan interest payments to be deducted from one’s federal income tax obligation?
I am not a Trump fan, but I support eliminating those ridiculous tax deductions and perhaps making California a more affordable place to live. After 67 years in Southern California, I now live in Thailand, and my two kids have moved out of the state because of the high cost of housing.
Brian Springer, Khanom, Thailand