Many will pay more under tax plan

The details are out now in the tax plan proposed by the U.S. House, and they are not pretty. This was supposed to be a tax cut for most people, along with corporations, of course, to stimulate the economy. It appears to be a tax increase for the vast majority of us.

Despite the increase in deductions, there will be an elimination of personal exemptions, a modest increase in tax rate below taxable income of $19,000, and a very large increase in tax rate for taxable income between $19,000 and $77,000 a year.

A single person earning more than $29,000 a year would pay more under the new plan, as would a couple without children who declare earning more than $46,000 a year.

A couple with two children would begin to pay more taxes under the new law above an income of about $64,000, and the higher an individual or family earns above all of those numbers, the more taxes would escalate dramatically. A couple who has no children or whose children are grown, and who earn $90,000 annually combined, would pay close to $5,000 a year more under the new plan than the current tax system.

If this was supposed to be a tax cut for most people, the plan fails miserably. We should tell our congressman and senators we do not want to pay higher taxes just so corporations can benefit.

Robert Murden Columbus