SURPLUS: Here's an idea

I’m writing concerning HB 67, the proposed income tax cut and another legislative gift to the wealthy. It is a shortsighted approach to a long-term problem. A temporary budget surplus exists only because Idaho is underfunding schools, infrastructure, health care and many other items. Also the uncertainty about the course of the federal government and the future U.S. economy, especially the ACA and Idaho funding for indigent care create huge uncertainty. This is a time to create a substantial rainy day fund, while the economy is healthy.

Why not a new approach? Raise income taxes slightly on high earners, cut them on the lower income working families. Use state funds more for schools and cut reliance on local bonds.

The HB 67 $750 income exclusion is a joke. It’s a $15 to $50 tax saving for most of us — an insignificant amount. But .2 percent top rate income tax reduction gives the very wealthy thousands of dollars each year.

Revise HB 67. Raise the top personal income rate back to 8 percent. Leave the corporate rate unchanged to encourage business investment. Raise the insignificant $750 exemption to $1,500 or $2,000 or even $2,500.

Spend most of the increased income on roads and education. The real tax reduction will go to the working people, who spend locally, not the very high earners, who tend to spend on expensive travel and out of area luxuries.

SID WURZBURG

Spirit Lake