[LWVNM Action] The budget as a moral document

[Linda McDowell]

I agree that a $150,000 is a low cap.               Seniors may be in residential care that costs $130,000, paying $30,000 in property taxes,paying medical insurance and copays for medication and medical care, IRS and state taxes, etc. 

The state budget should not be a kids vs seniors battle, but should instead benefit 
all New Mexicans. 

Linda C. McDowell



Sent from my iPhone

> On Feb 22, 2022, at 10:14 AM, Richard Mason via Action <action at mailman.swcp.com> wrote:
> 
> 
> The League position is that our tax system should be progressive. A flat exemption that does not take into consideration people's ability to pay is not progressive. Most low income seniors do no pay taxes on their SS benefits.
> 
> Dick Mason
> 
> 
> -----Original Message-----
> From: Jane Asche via Action <action at mailman.swcp.com>
> To: Richard Mason via Action <action at mailman.swcp.com>
> Cc: Jane Asche <janeasche at comcast.net>
> Sent: Tue, Feb 22, 2022 9:38 am
> Subject: Re: [LWVNM Action] The budget as a moral document
> 
> Richard,
> 
> So do you consider the limit of an income of $100,000 for single people 
> and $150,000 for couples to be  high incomes in today's economy of high 
> inflation?  I do think the income limits for the exemption should be a 
> little lower.  However, for my husband and I (86 and 82 years old), both 
> retired professionals with investments in lots of higher education 
> during our careers for our selves and our children, have a combined 
> retirement income of right around $70,000.   It seems whether the limits 
> are reasonable enough is affected by the health issues retired people 
> face and often times responsibilities to care for aging parents as new 
> retirees.  In some cases, a retired couple with an income a little below 
> $150,00 is not a lot.
> 
> Jane  Asche
> 
> On 2/18/2022 9:29 AM, Richard Mason via Action wrote:
> > Many over the years have called the budget a moral document - how you 
> > raise & spend money reflects the values of the society. I am attaching 
> > the Fiscal Impact Report (FIR) for HB163 - the tax package just passed 
> > by the Legislature. The whole story is on the first of the 24 pages.
> >
> > The Income Tax Exemption for Social Security costs the state from 84 
> > million in the first year to 99.5 million in the 4tth year
> >          This mainly benefits middle to high income seniors
> >
> > The Child Tax Credit that goes to families with children doesn't go 
> > into effect until the second year & then costs the state about 75 
> > million a year
> >           I actually heard a legislator say they had to reduce it 
> > because of the fiscal impact
> >
> > Conclusion - our Legislature cares more about middle to high income 
> > seniors than they do about families with children.
> > Maybe because old folks like me vote in greater numbers.
> >
> > Dick Mason
> >
> > _______________________________________________
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> > Action at mailman.swcp.com
> > https://mailman.swcp.com/cgi-bin/mailman/listinfo/action
> -- 
> Jane A. Asche, Ed.D., Email: janeasche at comcast.net, Cell: 575-649-8154
> 
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