Ted Kallman: What gains under President Trump?

Published: 1/20/2020 2:39:57 PM

The recent letter suggesting that we look at the balance in our 401K funds to see how great Trump is led me to do so. The letter writer was correct. My 401K increased significantly during 2019.

But Trump also initiated tax reductions which reduced taxes significantly for the corporations and millionaires (many of whom now pay no taxes), while eliminating many deductions which benefited middle-class retired homeowners like myself.

My federal income tax for 2019 and projected for 2020 is more than I have ever paid before. Combine that with Medicare cost increases that offset the Social Security cost of living increase and my question to Trump is: What gains?

Ted Kallman

Florence




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