Advertisement
YOU ARE HERE: LAT HomeCollections

Bush's Special Savings Accounts

October 12, 1988

I am writing in reference to Bush's new tax savings plan.

Well, if I were to somehow find a home somewhere in the Los Angeles area for only $200,000 (it would have to be a very small house), at 10% annual interest, $12 would pay for far less than 1/10 of 1% of the interest I would have to pay every year.

I attend Loyola Law School, where I pay tuition of $353 for each unit. At that rate, $12 will pay for two hours of class.

If I decided to start a business, $12 would pay for one month's rent of about four feet of office space.

It seems to me that the minuscule benefits realized by individual taxpayers are nowhere near adequate to compensate for the annual loss to the Treasury of up to several hundred million dollars per year.

I find it very disturbing that a presidential candidate who claims to have the ability to lead the United States into a position of economic strength and prosperity could suggest this plan with a straight face.

JULIA H. GUROFF

Duarte

Advertisement
Los Angeles Times Articles
|
|
|