erynthered Posted February 22, 2012 Share Posted February 22, 2012 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. http://online.wsj.com/article/SB10001424052970204880404577225493025537660.html?mod=WSJ_hp_LEFTTopStories 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? Seldom has there been a clearer example of a policy that is supposed to soak the rich but will drench almost all American families. Yes we can!! Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 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. http://online.wsj.co..._LEFTTopStories 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? Seldom has there been a clearer example of a policy that is supposed to soak the rich but will drench almost all American families. Yes we can!! IMO lowering the qualified dividend rate to 15% was the best part of the Bush Tax Cuts. It made many dividend paying stocks much more attractive for income than bonds. Link to comment Share on other sites More sharing options...
DC Tom Posted February 22, 2012 Share Posted February 22, 2012 IMO lowering the qualified dividend rate to 15% was the best part of the Bush Tax Cuts. It made many dividend paying stocks much more attractive for income than bonds. Probably why they want to raise it, given the trillion-dollar deficits. Link to comment Share on other sites More sharing options...
erynthered Posted February 22, 2012 Author Share Posted February 22, 2012 IMO lowering the qualified dividend rate to 15% was the best part of the Bush Tax Cuts. It made many dividend paying stocks much more attractive for income than bonds. There goes the AARP vote. Probably why they want to raise it, given the trillion-dollar deficits. Probably right, Tom. But I doubt either a "D" or an "R" would use that additional money's to pay down those deficts. Link to comment Share on other sites More sharing options...
DC Tom Posted February 22, 2012 Share Posted February 22, 2012 Probably right, Tom. But I doubt either a "D" or an "R" would use that additional money's to pay down those deficts. No, my point was that if raising taxes on dividends makes bonds more attractive, it's easier for the government to borrow money. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 And people who own large cap mutual funds in non-qualified accounts are going to get taxed to hell and not even know why. Those dividends are taxed whether they take them or not. No, my point was that if raising taxes on dividends makes bonds more attractive, it's easier for the government to borrow money. Borrow or lend? Link to comment Share on other sites More sharing options...
erynthered Posted February 22, 2012 Author Share Posted February 22, 2012 And people who own large cap mutual funds in non-qualified accounts are going to get taxed to hell and not even know why. Those dividends are taxed whether they take them or not. Borrow or lend? Unions, Jim? Link to comment Share on other sites More sharing options...
/dev/null Posted February 22, 2012 Share Posted February 22, 2012 There are fewer people paying taxes http://blog.heritage.org/2012/02/19/chart-of-the-week-nearly-half-of-all-americans-dont-pay-income-taxes/ So they have to bleed the ones who do pay taxes even more. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 Unions, Jim? ?? Link to comment Share on other sites More sharing options...
erynthered Posted February 22, 2012 Author Share Posted February 22, 2012 ?? My fault, I was thinking of something else. FERS and CSRS. My bad. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 My fault, I was thinking of something else. FERS and CSRS. My bad. Still not sure about your point/question? Link to comment Share on other sites More sharing options...
erynthered Posted February 22, 2012 Author Share Posted February 22, 2012 Still not sure about your point/question? I have no idea either. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 I have no idea either. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted February 22, 2012 Share Posted February 22, 2012 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. http://online.wsj.com/article/SB10001424052970204880404577225493025537660.html?mod=WSJ_hp_LEFTTopStories 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? Seldom has there been a clearer example of a policy that is supposed to soak the rich but will drench almost all American families. Yes we can!! F*** dividends! 100 million people may get them, but the vast, vast majority of it goes to the very, very top sliver of the 1%. Seriously, how much stock in a company do you need to own to actually get enough from dividends to even matter? Link to comment Share on other sites More sharing options...
3rdnlng Posted February 22, 2012 Share Posted February 22, 2012 I have no idea either. See what happens to you when you read too many of Fatty's and Davey's posts? Link to comment Share on other sites More sharing options...
/dev/null Posted February 22, 2012 Share Posted February 22, 2012 F*** dividends! 100 million people may get them, but the vast, vast majority of it goes to the very, very top sliver of the 1%. Seriously, how much stock in a company do you need to own to actually get enough from dividends to even matter? By sticking it to the 1% it's also raising taxes on retired seniors living on a fixed income. My father for example, a retired cop, supplements his pension and Social Security with dividend income from some investments he made over the years. This will jack up his tax bill several thousand dollars. But Obama won't raise taxes on the middle class Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted February 22, 2012 Share Posted February 22, 2012 By sticking it to the 1% it's also raising taxes on retired seniors living on a fixed income. My father for example, a retired cop, supplements his pension and Social Security with dividend income from some investments he made over the years. This will jack up his tax bill several thousand dollars. But Obama won't raise taxes on the middle class Interesting, so to pay several thousand more in taxes just off the dividends, he must have a he'll of a lot invested. So I'm thinking it won't change his life style one bit. Besides, taxing him to pay for my moms health car sounds alright to me Link to comment Share on other sites More sharing options...
Jauronimo Posted February 22, 2012 Share Posted February 22, 2012 F*** dividends! 100 million people may get them, but the vast, vast majority of it goes to the very, very top sliver of the 1%. Seriously, how much stock in a company do you need to own to actually get enough from dividends to even matter? I would love to see what you're invested in. I bet your friends call you the Oracle of Norfolk. Link to comment Share on other sites More sharing options...
/dev/null Posted February 22, 2012 Share Posted February 22, 2012 Interesting, so to pay several thousand more in taxes just off the dividends, he must have a he'll of a lot invested. So I'm thinking it won't change his life style one bit. That's not the point. The man spent his entire life doing the right thing. And now he's being penalized to subsidize those who didn't. Oh, and don't give me that "fair share" crap. See the link I posted earlier. Close to half the people don't pay federal taxes or get back more than they pay. How is it fair to make those who do pay contribute more while asking nothing of those that contribute nothing or consume more than they contribute? Besides, taxing him to pay for my moms health car sounds alright to me Why should my father pay for your mother's health care? Conversely why should your mother pay for my father's health care? Link to comment Share on other sites More sharing options...
Chef Jim Posted February 22, 2012 Share Posted February 22, 2012 F*** dividends! 100 million people may get them, but the vast, vast majority of it goes to the very, very top sliver of the 1%. Seriously, how much stock in a company do you need to own to actually get enough from dividends to even matter? Do you own a mutual fund? Link to comment Share on other sites More sharing options...
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