Letters: Wealthy people will cash in on Republican tax cut bill

Re “House tax panel adopts GOP changes after day of bickering” (sacbee.com, Nov. 6): I can see why the proposed tax rewrite is simpler for the wealthy: No pesky estate tax; no alternative minimum tax, which was enacted so that they pay something closer to their fair share; and continued preferential tax rates for investment income under capital gains. For wage earners, not so much. Their income still is likely to be taxed at a higher rate than passive investments. They will pay accountants to figure their taxes by standard deduction and itemization in order to know which is the better option. They, more than the wealthy, will feel the effects of the $1.5 trillion this will add to the national debt. Why is there talk about cuts when we have a deficit? I thought Republicans prided themselves on fiscal responsibility.

This story was originally published November 8, 2017 at 9:30 AM with the headline "Letters: Wealthy people will cash in on Republican tax cut bill."