To the editor:
Wyden is insane. Our senator is proposing a capital gains tax on investment type assets payable every year. If you invested in stocks to help your retirement, now you will have to pay up to 37% on the appreciation each year. Probably have to sell some to pay the democratic tax. If you have a farm or business, guess what if you are successful, 37% on your success. Have investment property? This year things are good and your assessed value goes up, 37 percent. If it goes down, who knows, but if it goes down like it did here a few years back and then goes back up, 37 percent. Democrat policies are like whack-o-moles. Call your Senator if you don’t want to give the Democrats every thing you worked for all your life!
Editor’s note: The federal income tax system has seven tax rates, ranging from 10 percent to 37 percent. Taxable income is segmented like layer cake, and each layer, from the bottom up, is taxed at progressively higher rates. The top 37 percent rate applies only to income above $510,300 for individuals and $612,350 for married couples.