Home Commentary Open forum MONSANTO NEEDS TO CHECK HIS V.I. W-2S, TAX FORMS

MONSANTO NEEDS TO CHECK HIS V.I. W-2S, TAX FORMS

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Dear Source,
This is a letter in response to Jack Monsanto's Open Forum piece, 'No Representation Without Taxation'.
The Source headline under Open Forum is incorrect. No taxation? What does Jack Monsanto mean, we Virgin Islanders don't pay federal income taxes? Monsanto is dead wrong. We do pay federal income taxes, and it's the same rate as in the mainland. We pay into Social Security and Medicare and that goes to the federal government. The only difference is that our withholding tax that most Americans see going to the feds stays here with the Virgin Islands government (it's called VI withholding). But we pay the same tax rate.
And, like Texas and some other states, we pay no state income tax.
Does Monsanto look at his W-2 forms? Line 2 says "VI Income tax withheld." Line 2 of a stateside W-2 says "Federal Income tax withheld." They are the same rate. And Lines 4 and 6 are the same as in the states — for Social Security and Medicare.
Monsanto may have lived here, but he sounds like he's never paid taxes here.
Michael Burton
St. Thomas

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