Having just read "Utah should cut its income tax rate," by Rusty Cannon in Guest Opinions, we would like to expand on the subject.
Having moved to Utah over a year ago, we were stunned to see that we owed over $6,000 on our retirement income for the year 2018. If we were to live 14 more years, that is a whopping $84,000. That amount is unsustainable if you are not in the workforce.11 comments on this story
Eventually, this will affect all Utahns when they retire just at the time they can least afford it. Retirees have already paid their taxes on this income and have accumulated their retirement through pensions, social security and IRAs.
They have done this through hard work and careful planning their whole lives. This is a crippling tax when money is needed for medicine, food and health care. Although we love Utah and had hoped to live the rest of our lives here, Wyoming, Idaho or Nevada are looking better to call home for a retiree.
Russ and Diane Thomas