LetterMADE09

Dear President-Elect Obama,

I would first like to congratulate on you winning the Presidential Election over Senator McCain. You were both fine candidates and capable of running our country, but I feel that we need a change and was glad that you won.

I am writing this letter to show my concern for tax relief. In a few years, I will be 16, and will be starting to work. In a few years, I will be going to college. My parents are middle-class, and work very hard for their paychecks. With the taxes they are currently paying, they are finding it hard to save money and are concerned about their retirement.

I was happy to hear about the tax relief that you are suggesting. You have stated that you will call for repealing a portion of the tax cuts passed in the last eight years for families making over $250,000. You also stated that you would limit all rates to be at or below what they were in the 1990s. Families making over $250,000 would pay the 1990s marginal income tax rates – of 39.6 and 36 percent – and capital gains and dividend tax rates of 20%. Your 20 % capital gains rate is the lowest rate from the 1990s, and your 20% dividends rate is 39 percent lower than the rate President Bush proposed in 2001.

Your plan also maintains the existing marginal tax rates for every family making less than $250,000 – and single people making less than $200,000—while offering thousands of dollars in new tax cuts for saving, education and mortgage costs. Also under your plan, the typical family will pay tax rates that are 20% lower than they faced under President Reagan.

I believe your statement: “get America’s economy back on track” and wish you a very productive term as President of the United States.

Sincerely,

Matthew A. DelBasso