How many North Carolinians – especially seniors – realize how much the elimination of medical expenses as a deduction against state income taxes will cost them?
My wife and I (a retired Presbyterian pastor and a retired college administrator) pay $20,000 annually for Medicare, group health insurance, co-pays, deductibles and long-term care insurances. This represents a third of all our expenses each year. The elimination of this deduction will add nearly $1,000 to our North Carolina income taxes in 2014.
Surely many thousands of other seniors (voters) will be similarly affected. Yet Gov. Pat McCrory, Sen. Phil Berger and especially Rep. Thom Tillis claim their tax package lowers the tax bills of North Carolinians of average and lower incomes.
Those 65 or over especially should check for themselves. They may want to invite these gentlemen to do the math for themselves. Better yet, vote for officials who are committed to telling the truth instead of issuing sound bites.
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John Fisler, Holly Springs