Not very credible!
This is from Merrill Matthews, Investor's Business Daily
Tax and Spending Issues
July 5, 2012
There's a Triple Tax Increase in Your Future
The so-called Bush tax cuts are set to expire at the end of the year. That means
that all of the current income tax rates will rise to pre-2001 levels overnight:
the lowest rate will jump from 10 percent to 15 percent and the highest from 35
percent to 39.6 percent. Moreover, rhetoric from Congress suggests that
Democrats will settle for nothing less than an expiration of those provisions
benefitting the rich, says Merrill Matthews, a resident scholar with the
Institute for Policy Innovation.
One of the implications of this policy change that receives less attention than
it should is the effect of these taxes on capital gains and dividend payouts.
Effectively, the expiration of the Bush tax cuts will triple the taxes on these
forms of income overnight.
* As a result of the Bush tax cuts, capital gains and dividends are taxed at a
flat rate of 15 percent.
* When the cuts expire,
however, these forms of income will be taxed as if they
are regular income, meaning that gains for the wealthy will be taxed at a rate
of 39.6 percent.
* Also, the health care law imposes a new 3.8 percent tax on passive income,
including dividends and interest.
* So the effective dividend tax rate for those at the upper end of the income
scale would nearly triple, to 43.4 percent.
Democrats and the president justify this change in tax policy by arguing that it
will only affect the wealthy, who are capable of giving more to government
coffers. However, basic economic analysis allows us to see that many more
parties than the wealthy will be harmed by this tax hike.
* A study by the accounting firm Ernst & Young found that the United States
currently has the fourth-highest integrated dividend tax rate among the 34
Organization for Economic Cooperation and Development nations.
* Higher dividend taxes will make stocks that pay dividends less attractive to
investors.
* So those who currently hold dividend-paying stocks -- everyone from
middle-class folks with 401(k)s to union pension funds to non-profit foundations
-- would see the value of their investments decline substantially.
* Hiking taxes on dividends would also be disastrous for retirees: according to
the IRS, more than half of dividend payments go to Americans over age 65.
Also starting in Jan 2013 when you sell your house you will be charged 3.8 national sales tax on the total amount.
Source: Merrill Matthews, "There's a Triple Tax Increase in Your Future,"
Investor's Business Daily, June 19, 2012.
thank his highness for losing more of your money to institution of efficiency..the govt.
This is from Merrill Matthews, Investor's Business Daily
Tax and Spending Issues
July 5, 2012
There's a Triple Tax Increase in Your Future
The so-called Bush tax cuts are set to expire at the end of the year. That means
that all of the current income tax rates will rise to pre-2001 levels overnight:
the lowest rate will jump from 10 percent to 15 percent and the highest from 35
percent to 39.6 percent. Moreover, rhetoric from Congress suggests that
Democrats will settle for nothing less than an expiration of those provisions
benefitting the rich, says Merrill Matthews, a resident scholar with the
Institute for Policy Innovation.
One of the implications of this policy change that receives less attention than
it should is the effect of these taxes on capital gains and dividend payouts.
Effectively, the expiration of the Bush tax cuts will triple the taxes on these
forms of income overnight.
* As a result of the Bush tax cuts, capital gains and dividends are taxed at a
flat rate of 15 percent.
* When the cuts expire,
however, these forms of income will be taxed as if they
are regular income, meaning that gains for the wealthy will be taxed at a rate
of 39.6 percent.
* Also, the health care law imposes a new 3.8 percent tax on passive income,
including dividends and interest.
* So the effective dividend tax rate for those at the upper end of the income
scale would nearly triple, to 43.4 percent.
Democrats and the president justify this change in tax policy by arguing that it
will only affect the wealthy, who are capable of giving more to government
coffers. However, basic economic analysis allows us to see that many more
parties than the wealthy will be harmed by this tax hike.
* A study by the accounting firm Ernst & Young found that the United States
currently has the fourth-highest integrated dividend tax rate among the 34
Organization for Economic Cooperation and Development nations.
* Higher dividend taxes will make stocks that pay dividends less attractive to
investors.
* So those who currently hold dividend-paying stocks -- everyone from
middle-class folks with 401(k)s to union pension funds to non-profit foundations
-- would see the value of their investments decline substantially.
* Hiking taxes on dividends would also be disastrous for retirees: according to
the IRS, more than half of dividend payments go to Americans over age 65.
Also starting in Jan 2013 when you sell your house you will be charged 3.8 national sales tax on the total amount.
Source: Merrill Matthews, "There's a Triple Tax Increase in Your Future,"
Investor's Business Daily, June 19, 2012.
Not very credible!
This is from Merrill Matthews, Investor's Business Daily
Tax and Spending Issues
July 5, 2012
There's a Triple Tax Increase in Your Future
The so-called Bush tax cuts are set to expire at the end of the year. That means
that all of the current income tax rates will rise to pre-2001 levels overnight:
the lowest rate will jump from 10 percent to 15 percent and the highest from 35
percent to 39.6 percent. Moreover, rhetoric from Congress suggests that
Democrats will settle for nothing less than an expiration of those provisions
benefitting the rich, says Merrill Matthews, a resident scholar with the
Institute for Policy Innovation.
One of the implications of this policy change that receives less attention than
it should is the effect of these taxes on capital gains and dividend payouts.
Effectively, the expiration of the Bush tax cuts will triple the taxes on these
forms of income overnight.
* As a result of the Bush tax cuts, capital gains and dividends are taxed at a
flat rate of 15 percent.
* When the cuts expire,
however, these forms of income will be taxed as if they
are regular income, meaning that gains for the wealthy will be taxed at a rate
of 39.6 percent.
* Also, the health care law imposes a new 3.8 percent tax on passive income,
including dividends and interest.
* So the effective dividend tax rate for those at the upper end of the income
scale would nearly triple, to 43.4 percent.
Democrats and the president justify this change in tax policy by arguing that it
will only affect the wealthy, who are capable of giving more to government
coffers. However, basic economic analysis allows us to see that many more
parties than the wealthy will be harmed by this tax hike.
* A study by the accounting firm Ernst & Young found that the United States
currently has the fourth-highest integrated dividend tax rate among the 34
Organization for Economic Cooperation and Development nations.
* Higher dividend taxes will make stocks that pay dividends less attractive to
investors.
* So those who currently hold dividend-paying stocks -- everyone from
middle-class folks with 401(k)s to union pension funds to non-profit foundations
-- would see the value of their investments decline substantially.
* Hiking taxes on dividends would also be disastrous for retirees: according to
the IRS, more than half of dividend payments go to Americans over age 65.
Also starting in Jan 2013 when you sell your house you will be charged 3.8 national sales tax on the total amount.
Source: Merrill Matthews, "There's a Triple Tax Increase in Your Future,"
Investor's Business Daily, June 19, 2012.
Both have excellent articles in some fields--it's just hard to believe they actually pay the morons like Dorothy Rabinowitz or Peggy Noonan to ramble on their delusions, and what's funny is that these two witches have been lying for years and proved wrong. You should have read them about douche bag Palin when she helped flie the Repuboputzes into the ground.
But by runing and displaying her absolute lack of qualificatiions for just about anything except screwing the Right Wing Faithful who are too dumb to read out of millions, Palin contributed to us having an excellent president who will soon get a second term.
Which douche will Romney pick to be his co-douche in defeat? Ah kin hardly sleep at night worryin'.
-- Modified on 7/6/2012 8:35:14 PM
The GOPutzes here are particularly lazy, especially the ones that post every hour of the day (retired/on disability from the government they hate except when it puts money in their hands) or maybe they multitask and whatever the fuck they do take breaks. But at any rate they are totally lazy and would rather post shit they get from Rush, or some of the most vicious and ugly women in the world, Coulter, Maupin, Rabinowitz at the Murdoch St. Journal, Ingram.
These lies tend to proliferate in states where the SAT scores are in the bottom 10 like Georgia, Alabama, Missisippi)
From the home office:
5 Total Lies Repuboputz Suckers Too Lazy to Read Tell About ACA
1) Microchips Implanted in Americans (Total shit)
2) Romney Care in Mass Different in any Significant Respect than ACA (with exception of the quality control factors and research factors that will increase the quality of medical care modalities and outcomes in the ACA)
3) IRS hiring phalanxes of extra agents to collect mandate penalty (Totally false) The proportion of people who cheat on their income taxes like Mitt and Anne Romney who are possibly under investigation for hiding their assets off shore and not reporting them is much higher than the 1% of freeloaders who will face a mandate penalty graduated to their incomes.
4) Boehner told "Face the Nation" ACA is government takeover of health care. Nothing could be further from the truth, but Boehner is way too fucking dumb and lazy to understand ACA.
5) A 3.8% tax if you sell home after 2012 or any 3.8% tax. This is total fucking bullshit promolgated by GOPutzes who are dupes and suckers for any rumor and too lazy to do the research to investigate whether the shit they spew like lobotomized individuals is true.
and rethink it. There is a 3.8% tax on home sales. The tax affects the sale of a second home, vacation home, also capital gains, investments, dividends, etc. But only for those making over $200,000/year, or couples with $250,000/year. Maybe you should also lay off the name calling a bit. I'm sure you've heard the old phrase, "People that live in glass houses shouldn't throw stones".
My heading was clearly this one pasted from what I wrote:
5 Major Lies GOPutz Tell About ACA (and are too dumb to read truth)
What the fuck "about ACA" in that heading don't you wingnuts understand? And the way wingnuts characterize the tax on home sales which has FUCKING NOTHING to do with the ACA at all, is totally false. Did I mention that the niche tax on some home sales has nothing what the fuck ever to do with the ACA and you can't connect it with ACA except in the warped delusonal mind of wingnuts who do this the same way they lie about everything.
Get someone literate to read the linked article below to you.
Realtors, the 3.8% ‘Sales Tax’ and $247 Medicare Premiums
http://www.factcheck.org/2012/04/realtors-the-3-8-sales-tax-and-247-medicare-premiums/
Q: Is the National Association of Realtors lobbying to repeal a 3.8 percent “sales tax” on homes before it takes effect in 2013?
A: No. There’s no such “sales tax” in the new health care law. And Medicare premiums aren’t going to $247 either. But these virulent falsehoods keep going around.
5 Major Lies GOPutz Tell About ACA (and are too dumb to read truth)
What the fuck "about ACA" in that heading don't you wingnuts understand? And the way wingnuts characterize the tax on home sales which has FUCKING NOTHING to do with the ACA at all, is totally false. Did I mention that the niche tax on some home sales has nothing what the fuck ever to do with the ACA and you can't connect it with ACA except in the warped delusonal mind of wingnuts who do this the same way they lie about everything.
Get someone literate to read the linked article below to you.
Realtors, the 3.8% ‘Sales Tax’ and $247 Medicare Premiums
http://www.factcheck.org/2012/04/realtors-the-3-8-sales-tax-and-247-medicare-premiums/
Q: Is the National Association of Realtors lobbying to repeal a 3.8 percent “sales tax” on homes before it takes effect in 2013?
A: No. There’s no such “sales tax” in the new health care law. And Medicare premiums aren’t going to $247 either. But these virulent falsehoods keep going around.
3-4% on stock sales?
what's that have to do with ACA?
a revenue source?
-- Modified on 7/7/2012 5:28:39 AM
-- Modified on 7/9/2012 10:12:10 AM