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income less than $27,000 a year will get,# tax credit, a check from the federal government, which may even be for more than the income tax that he or she has paid.
The gasoline tax increase of 4.3 cents a gallon amounts to about 10 cents a day for the average driver. This will be the only news general tax paid by anyone who makes less than $115,000 per year in taxable income (about $140,000 in gross income) for individuals, or $140,000 in taxable income (about $180,000 in gross income) for couples filing jointly.
Retirees drawing social security and having total income of more than $34,000 (or $44,000 per couple) will pay a higher tax on their social security income.
Sone extra taxes may be due from people with inheritances, capital gains, club dues paid by their employers, business meals and entertainment; but the great majority of people making under $140,000 will pay no new taxes whatever, except the trivial gas tax.
People making more than $140,000 per year ($180,000 per couple), who are about 1.5 percent of all taxpayers, will pay more income taxes. These are the people who made out so very well under Reagan and Bush. Every Republican in Congress voted against this bill, trying to protect this richest 1.5 percent from paying their fair share of the deficit reduction.
AUGUSTUS C. JOHNSON
Syria
95.6%