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Dole's Plan
More Fair
To the Editor:
In response to last week's letter by Lee Bird on President Clinton's tax increase he says made"...the tax system fairer." I totally disagree.
Check the following plan by Bob Dole, and see if you don't agree it is much fairer for all Americans and one which would really spur growth and investment:
• Reducing personal income tax rates by 15 percent over three years. Tax bills will be chopped by about one-seventh. If you're paying $7,000 now, you'll pay $6,000.,
• Providing, for most families, a $500 tax credit for every child 18 years old or younger. A tax credit — as opposed to a deduction or an exemption — comes directly off your tax bill. You calculate what you owe IRS, then subtract $500 per child. The savings can be enormous.
Above are only two pieces of the plan. Mr. Dole also would allow a $500 per child deduction for contributions to an education investment account (similar to an IRA), expansion of IRAs themselves, and a 50 percent cut in the capital gains rates.
CATHY SMITH
Amissville
95.5%