Letter to the Editor

Dear Editor:

Years ago a co-worker completed a master's degree, earning a boost on the pay scale-and into the next higher tax bracket. After receiving his next paycheck (with less take-home) he commented he wasn't sure he could afford many more raises like that.

Hearing the President's praise of legislation passed to "reduce the deficit" reminded me of that incident. A CBS news report stated that piece of legislation contained $70 billion of tax loopholes, including for rum, wind energy, race car owners, and Hollywood movie produc- ers. (These used to be called earmarks introduced by individua...