Originally Posted by
Point85ToTheFix
I didn't think this would apply to us to begin with just hoping that we COULD get this benefit. The rich pay the vast majority of taxes and more than half of people pay no net taxes at all.
All of that aside though not trying to argue any tax policy or the merits of paying taxes just hoping to give pilots the option to have some tax exempt income.
529, 401K, and HSA are all tax free. No income limits. I would argue those are for high income earners. How many households making $70K a year can pump those up every year?
As far as half the country not paying taxes. Not true. They pay plenty of sales, property, county, car, school, sewer, etc.. In my FO days I paid very little income taxes because of all the write offs available then. My taxes increased in 2017 because I can’t write anything off anymore. Increasing SALT tax deduction will help but will easily hit the proposed limit.
As my friend says “Most people would love to have to pay as much as we do. It just means you are doing very well”. True.