Business Tax Deductions

Timothy Wolf completely misses the point in his column “Business Deductions Set a Poor Tone” (Op-Ed Page, Aug. 10). The golden goose of our economy is the man who produces. Wolf, in his convoluted thinking, begrudges Lee Iacocca his $29 million salary and states that the taxpayers pay almost $12 million due to the fact that Chrysler takes a deduction for the $29 million. A misleading statement. What about the tax that Iacocca must pay on the $29 million?

My main point is that were it not for the producers of our economy, such as Iacocca, unemployment would be higher and in general, the average taxpayer would be far worse off. The government doesn’t produce a product, it only takes from those who do. Rather than taxing those who generate jobs, products, and indirectly, a higher standard of living, let’s reward them with greater tax incentives. It wasn’t an “anti-capitalist” mentality that built this country. It was the initial “hands-off” policy of our government toward business that stimulated and provided incentives for that rare bird, the hard-working, risk-taking entrepreneur.

RUDOLPH F. SILVA

Montebello