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Pay attention, retirees
The governor appointed a Kentucky tax reform panel earlier this year, which is considering a change that taxes retirees’ pensions.
Lt. Gov. Abramson is chairman of the Blue Ribbon Panel on Tax Reform. On. Nov. 9 he said the panel could recommend tweaking the tax code that exempts taxes on pensions of $41,100 or less. Abramson said panel members are looking at decreasing the pension limit to just $15,000.
This is not tweaking. It is a drastic change in the tax exemption of more than 60 percent for retirees. What is wonderful about our state is that it always showed respect and concern for its senior citizens and retirees.
Kentuckians, please don’t allow this tax exemption to be changed. Many of us are on fixed incomes. If nothing else, at least consider a type of grandfather clause, which would modify any exemption change. Either an age-related change, such as affecting only new retirees or a change which would not affect those, according to current tax code, who retired before 1998, who aren’t restricted by the pension income limit for the tax exemption.
Perhaps retirees after 1998 could be gradually phased in to this decrease in exemption on a percentage basis of their income depending on the year they retired.
Call or email the governor, lieutenant governor or Congressman and give them your viewpoints.
Let it go
Why is House Speaker John Boehner not budging on higher taxes? And he continues to rebel against President Barack Obama on the looming fiscal cliff. The majority of the country voted Obama back in for another four years. That means they fully support his ideas, his budgets, his higher taxes and more spending.
So why doesn’t Boehner just let it rest? Let Obama have his way. Isn’t that what the people voted for?
Republicans know he eventually will take our country down to rock bottom.
So if I was Boehner, I wouldn’t give it another thought. I’d give the people what they want. Just sit back and let it happen. Wait until they see what’s in Obamacare. Can’t wait for that to hit the fan.
Be careful what you ask for.
Thank you, Kentucky, for not voting Obama back in.