Joseph Ryan: Tax twisters

March 8, 2014 

I read with interest the Feb. 26 letter to the editor “Tax hike ahead.” I don’t get along as inexpensively as the writer, but I just returned from the accountant who informed me that my state income tax for this year, approximately $1,800, will increase to $2,400, an increase of 25 percent, for 2014. He said the elimination of the medical deduction and the IRA tax credit hurt me the most. This is based on comparable income, and I as the writer have Social Security, IRAs and a couple of small pensions. So there is unlikely to be much change in my income status.

When this law was passed by our fearless leaders, I was trying to figure out how they were going to pay for it. The numbers just didn’t add up. Now I know, it will be on the backs of seniors, the middle class and the lower end of the earnings spectrum so as to take care of the higher earners. Hey, where is the big tax break that everyone was to get?

Joseph Ryan, Raleigh

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