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Why should they pay less tax on dividends than they do on other income? Seems like an unneeded and unfair tax shelter to me. Once again Obama is hitting repukes over the heads with the common sense club.
Spoken by somebody who gets no dividends.
Why should dividends be taxes HIGHER than regular income?
This is a good example of increasing taxes on the middle class while telling the people he is only increasing taxes on the rich. Millions of Americans get dividends every year and will get hit by the new Obamacare tax and the proposed Obama tax increases on dividends. So not only is he a liar, he's a deceitful liar.
"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."
That is okay. I will just stop investing in the US. I guess that is what Obama wants- to further kill the economy. People can, and will, simply find sheltered investments overseas to avoid such an egregious tax. The net result? Worsening of the economy and more economic pressure on the middle class.
The funny thing is that the left cheers him on, just as they did Bill Clinton when he instituted NAFTA and China most favored nation trade status, which gutted the middle class. It is like joyfully driving the cart to the gallows prior to being guillotined.
Honestly I don't want to see Welfare eliminated, but you can't compare Social Security for an individual who worked and paid in for 40 years the same as welfare......
sure you can. it takes from the higher-income people and gives out to the lower-income people. that's welfare.
sure you can. it takes from the higher-income people and gives out to the lower-income people. that's welfare.
Social security recipients, for the most part, paid into the system for years. You can't call it welfare to pay them the return they were promised when they were forced to pay in. And you can't demand they pay in & then not allow them to receive the promised payout. I'm all for a reduction in Social Security, but it has to start with allowing people to opt out of paying into the system.
Social security recipients, for the most part, paid into the system for years. You can't call it welfare to pay them the return they were promised when they were forced to pay in. And you can't demand they pay in & then not allow them to receive the promised payout. I'm all for a reduction in Social Security, but it has to start with allowing people to opt out of paying into the system.
Do you agree with people who call Social Security and Medicare "entitlement programs"?
Location: Just transplanted to FL from the N GA mountains
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Quote:
Originally Posted by EinsteinsGhost
Do you agree with people who call Social Security and Medicare "entitlement programs"?
I don't. Entitlement programs are programs which are not funded in some part by those who receive the benefits...
SS, Medicare, Unemployment - Not entitlement's
All the rest, are entitlement's. Although there may be an exception to the rule. A family who actually qualifies for Section 8 yet does pay some tax (?) Admittedly I know nothing about what the income qualifications for this are.. so can a family who actually contributes tax dollars get this? If so.. go for it.. they are contributing if even in a small way and deserve the helping hand....
I don't. Entitlement programs are programs which are not funded in some part by those who receive the benefits...
SS, Medicare, Unemployment - Not entitlement's
All the rest, are entitlement's. Although there may be an exception to the rule. A family who actually qualifies for Section 8 yet does pay some tax (?) Admittedly I know nothing about what the income qualifications for this are.. so can a family who actually contributes tax dollars get this? If so.. go for it.. they are contributing if even in a small way and deserve the helping hand....
You may not but people do. Do you agree with them? Here's Boehner speaking on "entitlements" for example.
Do you agree with people who call Social Security and Medicare "entitlement programs"?
Well, yes. They are entitlement programs in the technical sense. People are entitled to these benefits by law, because they have helped to fund the system.
But it's not an entitlement in the sense that word has come to be used & understood. It's not a program that gives money to people who have not contributed, or one that seeks to redistribute wealth from one group to another.
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