Panelists answered the following: Should commuters be able to set aside any pre-taxed income to use on mass transit expenses? The monthly figure is set to drop from $245 to $130.
Marty Richman: “No, this and its driver equivalent, the $245 a month parking benefit, are exactly what is wrong with America’s tax code bent on granting political favors disguised as social engineering. Most mass transit systems can only operate with huge taxpayer subsidies; letting an individual set aside an additional $2,940 tax free annually for using a tax-subsidized system is double-dipping. As for drivers, there is no reason to give them that size tax-free parking allowance either. That’s just crazy; it just lines the pockets of those who own parking lots by letting them boost their rates. On a per square foot basis some parking spaces are more expensive than penthouses. I guess those are the true definitions of getting a free ride.”
Mary Zanger: “Yes. All commuters such as train riders, drivers and carpoolers should be treated equally with the same cap that might increase, not decrease. After all pre-tax set-aside income for mass transit expense represents something to hard-working, middle-class Americans grinding out another day. But to the federal treasury it is a pittance. To fatten the federal pot Congress needs to tax bank executives, corporate CEOs, tax stock trading, eliminate subsidies to oil and gas, and plug loopholes that allow corporations like Exxon and General Electric to pay no taxes at all.”
Nants Foley: “I think it should be an incentive to keep people out of their individual cars and using mass transit whenever possible. I hope it works!”
Richard Place: “Typical government. The Lord giveth and the Lord taketh especially if you have a job.”
Ruth Erickson: “It should be all or nothing at all. Either motorists and mass transit commuters all receive the deduction or no one should be able to deduct travel expenses to work.”
