+ Reply to Thread
+ Post New Thread
Page 2 of 5 FirstFirst 12345 LastLast
Results 11 to 20 of 43

Thread: Hope - Obama's new attempt to soak the middle class

  1. #11

    Default

    Quote Originally Posted by Hoosier8 View Post
    Obama's Dividend Assault

    President Obama's 2013 budget is the gift that keeps on giving—to government. One buried surprise is his proposal to triple the tax rate on corporate dividends, which believe it or not is higher than in his previous budgets.

    Mr. Obama is proposing to raise the dividend tax rate to the higher personal income tax rate of 39.6% that will kick in next year. Add in the planned phase-out of deductions and exemptions, and the rate hits 41%. Then add the 3.8% investment tax surcharge in ObamaCare, and the new dividend tax rate in 2013 would be 44.8%—nearly three times today's 15% rate.

    Keep in mind that dividends are paid to shareholders only after the corporation pays taxes on its profits. So assuming a maximum 35% corporate tax rate and a 44.8% dividend tax, the total tax on corporate earnings passed through as dividends would be 64.1%.

    More...

    http://online.wsj.com/article/SB1000...LEFTTopStories
    You mean Obama is trying to get rid of the special low privileged rate loopholes that billionaires, trust fund babies, hedge fund managers, and Mitt Romney use to pay tax rates that are less than half the marginal rate working people pay?

    Good for him.

    That was they way Reagan had it.

  2. #12

    Default

    Quote Originally Posted by unrealist42 View Post
    Once again we have protectors of the wealthy telling outrageous lies and brandishing the retired and their pensions as human shields for their unconscionable greed.

    Dividends would be taxed as ordinary income, only someone in the top tax bracket would pay the top rate. Dividends paid into retirement savings would not be taxed at all depending on what sort of savings plan the investment was in.

    btw, the corporate tax rate may be 35% but the rate that corporations actually pay is closer to 14%.
    Plus the individuals only pay tax on the money they receive. The corporation pays the corporate tax. The individuals who receive the dividend are not paying a double tax.

  3. Default

    Quote Originally Posted by Iriemon View Post
    You mean Obama is trying to get rid of the special low privileged rate loopholes that billionaires, trust fund babies, hedge fund managers, and Mitt Romney use to pay tax rates that are less than half the marginal rate working people pay?

    Good for him.

    That was they way Reagan had it.
    From the article.


    The question is how this helps anyone. According to the Investment Company Institute, about 51% of adults own stock directly or through mutual funds, which is more than 100 million shareholders. Tens of millions more own stocks through pension funds. Why would the White House endorse a policy that will make these households poorer?
    Liberals claim to want to give hearing to other views, but then are shocked and offended to discover that there are other views ~ William F. Buckley, Jr.

  4. Default

    Quote Originally Posted by starcraftzzz View Post
    Could you attempt to think? Those 51% don't have high enough incomes or get high enough stock income to be subjected tot he tax, the tax falls exclusively on billionaires and millionaires
    That is true, the lower-income people have a huge loophole that allows them to avoid even the 15% tax that the rich people pay on the same type of income. The rich pay 15%, the average investors pay 0%, yet people clam it is the rich who have a big loophole and are avoiding paying the tax?
    TANSTAAFL

  5. Default

    Quote Originally Posted by starcraftzzz View Post
    Ironic because you started this thread which is complaining about taxes...
    then you started complaining that more should be taken from others and given to you.
    What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests. - Paul Craig Roberts

  6. Default

    Quote Originally Posted by starcraftzzz View Post
    Could you attempt to think? Those 51% don't have high enough incomes or get high enough stock income to be subjected tot he tax, the tax falls exclusively on billionaires and millionaires
    Do go back and read the article.
    Liberals claim to want to give hearing to other views, but then are shocked and offended to discover that there are other views ~ William F. Buckley, Jr.

  7. Default

    Quote Originally Posted by starcraftzzz View Post
    Yes making/wanting rich people pay at least the same taxes as me and the middle class is totally complaining
    so you wish to pay a higher rate ?
    What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests. - Paul Craig Roberts

  8. Default

    Why shouldn't someone who makes all or most of their money through investing pay at a rate at least as much as someone working who makes less?

  9. Default

    Quote Originally Posted by starcraftzzz View Post
    Na because I already pay a higher rate then millionaires and billionaires
    bet you don't pay a higher rate than the guy earning $250 K in wage income.
    What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests. - Paul Craig Roberts

  10. Default

    Quote Originally Posted by Meta777 View Post
    Why shouldn't someone who makes all or most of their money through investing pay at a rate at least as much as someone working who makes less?
    I agree, all income should be taxed equally.
    Our rates could be much lower.
    What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests. - Paul Craig Roberts

+ Reply to Thread
+ Post New Thread
Page 2 of 5 FirstFirst 12345 LastLast

Similar Threads

  1. Obama calls for Taxes on the Poor and Middle Class
    By Badmutha in forum Current Events
    Replies: 48
    Last Post: Sep 01 2011, 07:21 PM
  2. Obama gets hid middle class tax hike
    By Whaler17 in forum Current Events
    Replies: 95
    Last Post: Aug 16 2011, 06:18 PM

Tags for this Thread

Bookmarks

Bookmarks