x-sender: governor.haley@sc.lmhostediq.com x-receiver: governor.haley@sc.lmhostediq.com Received: from mail pickup service by IQ12 with Microsoft SMTPSVC; Fri, 27 Feb 2015 17:58:03 -0500 thread-index: AdBS4Nel3I8U4xW2SkOy2QAWTy5G3Q== Thread-Topic: Income tax and etc. From: To: Subject: Income tax and etc. Date: Fri, 27 Feb 2015 17:58:03 -0500 Message-ID: <0482782C164D47A29D3C1160CD7599DC@IQ12> MIME-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit X-Mailer: Microsoft CDO for Windows 2000 Content-Class: urn:content-classes:message Importance: normal Priority: normal X-MimeOLE: Produced By Microsoft MimeOLE V6.1.7601.17609 X-OriginalArrivalTime: 27 Feb 2015 22:58:03.0986 (UTC) FILETIME=[D7C44320:01D052E0] CUSTOM Mr David L Solomon 1429 Columbia Hwy N. Aiken SC 29801 davidlsolomon@att.net TAX Income tax and etc. I am a conservative Republican. Your tax reform is a start but other changes need to take place. First of all, the graduation of tax brackets need to be changed. It is weighted to heavily in favor of higher income individuals. Once you reach the level of approximately $14,000 everybody pays 7%. That is grossly unfair. A person making $15,000 is the same tax bracket as a person earning $1 million. My next point of contention is the income tax rate on any received bonus paid to an individual by a company. For example, my son (a college graduate) lost his job a little over a year ago(earning $45,000). While looking for meaningful employment, he has taken a job with Red Box making approximately $20,000. He received a $400 bonus this week from this company. That $400 bonus check was taxed at a 48% income tax rate. That is obscene and completely unfair. A bonus check should be considered as regular income and tax at his regular income tax bracket is. income in the form of bonus should be treated and taxed as regular income. 48% is higher than the highest federal tax bracket. Is also higher than capital gains tax rate. This needs to change. If the state needs more revenue, they need to change the sales tax on automobile purchases. Once again, the sales tax favors higher incomes that purchase more expensive cars. The Tax Rate capped at $300. That means that a person purchasing a $6000 used car will have the same sales tax liability as a person purchasing a $50,000 car. They will both pay $300. I am not one for higher taxes, but I am for fair taxes. I believe that every person should pay income taxes but never more than approximately 15% at the federal level and 4% at the state level.