Editor, Manteca Bulletin,
So you think that government people are for the benefit of the voters? No way Jose! Check your income tax return and see. Have you had to withdraw your nest egg that you saved and worked for so many years because you have arrived at an age and level of income that don’t quite cover expenses. Well, here’s what happens notice on your return that the interest you earned, plus your initial investment are added together and called total amount that is taxable, and it is taxed.
Now I don’t think that’s fair at all and all the explanation I get is “That’s the law” from the tax preparers.
All us older people have to adjust our pay outs but can’t adjust our income anyway, it is a fixed income by the ones who are profiting from us 85 and older. But the government gets it backward and instead of not spending, they adjust their income at the expense of the trusting voters who put them in that position. Perhaps it’s time for us to adjust law makers.
March 20, 2009