I am not a tax attorney or adviser, but anyone can see that repealing the estate tax, which supporters of repeal call dramatically the “death” tax, only benefits the super-rich.
Under present law, the tax only applies for estate assets worth more than nearly $5.5 million, excluding charity bequests and a number of other generous deductions. The present tax rate is 40 percent. Who doesn’t think that more than $5.5 million plus 60 percent of the assets over $5.5 million net is not enough for wealthy decedents to leave for their heirs?
I’ll tell you who: someone who puts self-interest ahead of reducing income inequality. Bad karma, worse tax policy.
Lunsford Phillips
Kailua
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Developers should step up for rail
Now that Mayor Kirk Caldwell announced incentives for affordable-housing developers to build along the rail line through transit- oriented development, it’s time for financial, business and community leaders to put “skin in the game.”
The Hawaii Tourism Authority and the hotel and lodging industries will benefit from hotel workers using the rail line.
Leaders have made a difference in the past: Chinn Ho buying of a failing newspaper; financial institutions bailing out Manoa Finance and paying off depositors; Mayor Frank Fasi’s takeover of the bus system; Henry Kaiser’s development of Hawaii Kai and Kaiser Hospital.
It’s time for leaders to step up, before the April 30 deadline for the city to plead its case to the Federal Transit Administration.
Harold Inoshita
Waipahu
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Feds’ share of rail growing smaller
It is so refreshing to see some much-needed common sense on the Honolulu rail project (“Cayetano ad asks Trump to halt federal rail funds,” Star-Advertiser, April 22).
With projected costs doubling from $5.28 billion to more than $10 billion, it’s time to stop throwing good money after bad. It made some sense when the proponents said it was going to be paid one-third each by the feds, the tourists and local residents.
At $10 billion, the feds are paying 15 percent, the tourists 20 percent, and locals 65 percent, as well as 100 percent of the annual $110 million operation and maintenance costs.
I remember when rail godfather Mayor Mufi Hannemann stated his mantra: “Do we need it? Can we afford it? Can we maintain it?” The answer is no, no, no.
Thanks to the courage of former Gov. Ben Cayetano, we have a chance to stop it.
Garry P. Smith
Ewa Beach
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At this point, end rail at Middle Street
The Honolulu rail transit line must end at Middle Street because the public cannot afford the open-ended or infinite cost to Ala Moana Center.
While this will disappoint the contractors and others who planned to profit from the rail reaching its planned destination, the taxpayers will have cut their losses now and in the future. Mayor Kirk Caldwell promised to build the rail better and has failed to deliver. It is unfair for taxpayers to be punished for his ineptness.
Ending the rail at Middle Street will allow it to start service sooner and will result in bringing many people to town. While not ideal, it is no different than using the Ala Moana Center as a transfer station.
After the public experiences and can evaluate the convenience and efficiency of the rail system, they can lobby for future extensions to priority destinations.
John Tamashiro
Pearl City