OPINION: For MacArthur, Rich People Come First

(Photo by Chris Lundy)

My mailbox has been stuffed in recent weeks with all kinds of malicious and false propaganda emanating from the Tom MacArthur re-election campaign. In these mailers, TMac claims he lowered taxes for New Jersey’s households. That may be true in some instances. But there are many others, including myself, whose taxes are going up. Losing the full deduction for state and local taxes is bad enough, but the Trump/MacArthur tax bill also eliminates personal exemptions, which means those who itemize deductions, regardless of whether they pay state and local taxes or not, will see their effective tax rate go up. TMac knows this tax bill is bad for New Jersey as he was the only Republican Congressman from our state to vote in favor of it, all four of the other Republican Congressmen (Leonard Lance, Chris Smith, Frank LoBiando and Rodney Frelinghuysen) voted against it because they knew it was bad for New Jersey.

The Trump/MacArthur tax bill not only raises taxes on some individual taxpayers but raises the tax rate for small corporations as well. In prior years small corporations paid a fifteen percent tax rate, but thanks to Donald Trump and Tom MacArthur these same corporations will have to pay a twenty-one percent tax rate, the same as the biggest corporations.

Despite the Trump/MacArthur tax increases, the biggest hit to many New Jersey bank accounts are the humongous increases, as much as 30 percent for health insurance premiums, especially for individual policyholders with preexisting or chronic conditions. This is the direct result of Republican efforts, led by Tom MacArthur, to repeal the Affordable Care Act and eliminate protection for people with serious and lasting medical conditions.

A significant number of New Jersey residents who live in the third congressional district have lost thousands of dollars in tax increases and higher health insurance premiums as a direct result of the policies implemented by the Trump/MacArthur Administration. They should remember this when they vote in November.

Ken Bank
Barnegat

 

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