The retired teacher who recently submitted a letter seemed to imply that because he is well educated, worked hard during his career and receives a modest pension, he should not be required to pay New York State income tax on his pension.
There are many hard-working, well-educated people who have worked in the private sector, and should they be fortunate enough to receive a guaranteed pension, they are required to pay state income tax on their pension. These retirees also have been affected by the declining stock market and lower interest rates. Many teachers who have retired within the last 10 years are receiving pensions of $50,000 or more a year. How can this possibly be considered modest?
I do agree that the budget must be cut and that the legislators should be the first to take a decrease in pay. But I don't understand what this has to do with one select group of people being exempt from paying New York State taxes. All retirees should pay income tax on their pension or no retiree should pay tax on his pension.