Tax cut numbers in letter don’t add up

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first_imgCategories: Letters to the Editor, OpinionI’d like to give a different perspective on Gary Guido’s May 10 letter on “Trump’s “present to cost us all plenty.”Gary gave a somewhat detailed example related to gas prices and how they’ve increased since 2016 and how they affect family income today. Oil/gas prices are affected by U.S. oil domestic policy, geopolitical events and OPEC, which all presidents have to contend with. Readers, you can do your own research on how OPEC affected the price of oil/gas from 2012 through 2018 and you’ll see why, as Gary mentioned, the price of gas was about $2.10 per gallon in 2016 and is what it is today.Also, if we assume there’s inflation (wage inflation and consumer price inflation) in the market, then people five to six years ago were making less than today and consumer prices were less than today. In Gary’s example, I didn’t see where he mentioned wage inflation, which could offset consumer price inflation.Regarding tax changes, which include changes to the standard deduction and exemptions: For a family with $75,000 income, my calculations indicate a family would pay less under the new tax law and have more in their pocket.Can we now take Gary’s conclusion about President Trump and apply it to President Obama, when in 2012 the price of gas was about $3.50 per gallon?JERRY SMITHRotterdamMore from The Daily Gazette:Foss: Should main downtown branch of the Schenectady County Public Library reopen?Car hits garage in Rotterdam Sunday morning; Garage, car burnEDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Urgent: Today is the last day to complete the censuslast_img

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