Estimated tax savings appears to be inflated

 
Posted5/7/2018 1:00 AM
hello

In the Daily Herald's March 22 issue, Peter Roskam is quoted saying that the median income of a family of four in the 6th congres­­sional district is $135,000. And it stands to save $4,000 in 2018 federal income taxes.

My senses told me that Rep. Roskam's numbers were inflated, so I searched a number of sources and selected the highest 6th District family income given by the federal government's Census Bureau. The Census Bureau reports the district's median family income is $98,000. I also calculated the income taxes at both levels and found that a family owning a home with a mortgage would save only $2,000 at Roskam's suggested median income and only a few hundred dollars at the Census Bureau's reported median income.

If you would like to compare your 2017 income taxes to those projected for 2018, go to the Journal of Accountancy website and search for tax reform legislation details. It will provide you with an honest presentation of the new tax rules for individuals; and from these rules you can calculate your 2018 taxes based upon your 2017 income.

I called Rep. Roskam's office to get the source of his numbers, but as is customary for him, there is no response from him or his office to questions from his constituents.

Tom Teune

Wheaton

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