OPINION: New tax bill will help NJ-3’s MacArthur “personally realize millions of dollars”

Letter to the editor, by James Miller of Delran

During this season of generosity many of us find ways to financially support charitable works. This year is unique though in that the tax bill Representative Tom MacArthur intends to vote yes on will help him personally realize millions of dollars.

After reviewing Mr. MacArthur’s Financial Disclosure Form at clerk.house.gov, it is clearly evident that he will retain the mortgage deduction for his own home. His large stock portfolio includes share holdings in Exxon and other energy companies, pharmaceutical and insurance, Microsoft, Intel and other communication companies (such as the ones which will benefit from the recent FCC vote to dismantle net neutrality), and many others.

The tax savings realized by companies he holds stocks in will be directly passed along to shareholders like himself. There are multiple family trusts which hold stocks as well, which he will not pay taxes on because his yes vote will eliminate the estate tax in this bill. It’s a uniquely generous year for a new charity that should be named MacArthur’s Personal Assets. The American people will be donating to his charity although they will not be able to deduct it.

Editor’s note: The opinions in this letter are the author’s only.

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