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Too bad the feckless Romney does not stand a chance. H***ein gets swept back into office easily......his glassy-eyed followers are hypnotized by Dear Leader.
It's bad enough the Fed's easy money policy, which has done nothing to reduce unemployment, has rendered interest on savings to next to nothing. Now Obama is going to tax another source of income very important to millions of seniors, dividends.
Do you know what the average sum Americans including seniors have in their retirement investments? It's less than $20,000 and guess how much is in securities for most Americans its ABSOLUTELY NOTHING. You could set the tax rates on dividend income to 99% and most American seniors would pay ABSOLUTELY NOTHING becuase zero times any finite number is still zero! There are not millions of seniors who wil find their income pinched a little but the seniors riding around on their power chairs at the clubs or gold greens of Palm Springs, Scottsdale, Palm Beach or Hilton Head! Power Chairs paid for by the working SCHNOOKS of America.
Do you know what the average sum Americans including seniors have in their retirement investments? It's less than $20,000 and guess how much is in securities for most Americans its ABSOLUTELY NOTHING. You could set the tax rates on dividend income to 99% and most American seniors would pay ABSOLUTELY NOTHING becuase zero times any finite number is still zero! There are not millions of seniors who wil find their income pinched a little but the seniors riding around on their power chairs at the clubs or gold greens of Palm Springs, Scottsdale, Palm Beach or Hilton Head! Power Chairs paid for by the working SCHNOOKS of America.
Where are your stats to back up that most Americans have no securities ?
My stats show 54% of Americans "invest" in the stock market. 54%, way more than NONE, wouldn't you say ? http://www.gallup.com/poll/147206/st...west-1999.aspx
Eighty-seven percent of upper-income Americans -- those making $75,000 or more annually -- own stocks, as do 83% of postgraduates and 73% of college graduates. Sixty-four percent of Republicans hold stocks, compared with half of Democrats and independents. Men are more likely than women to be stock owners. Those aged 50 to 64 are the most likely of any age group to say they have money invested in the stock market.
It's a Bush tax cut that expires (Jobs and Growth Tax Relief Reconciliation Act of 2003). It has been renewed twice - the last time in 2010. It will likely get renewed again. Obama has already called for an extension of the Bush tax cuts on those making under $250,000. That would cover most seniors so, no, Obama is not anti-elderly.
You don't get it do you.. Income taxes and tax you pay on dividends are two seperate beasts.
My son is only 21, in school and works 30 hours a week.
He has a brokerage account and has 5 stocks in his growing portfolio.
And last year he did take advantage of tax laws called "loss carryover".
Education is KEY if you want to get ahead in the world. Too many people think Wall Street is only for millionaire and "yacht owners".
At that age I had turned $2000 into a $20,000 investment of course I blew it on a car and a move to NYC but hey it's life. Your son is well on his way, you must be proud.
There goes another attack on the poor by a Republican. She probably does not own a yaht either. If she was only wealthy she could take advantage of all these fine tax advantages. It is her fault she decided not to become wealthy.
So there goes another attack on the middle class by a democrat. I am not republican. That said is it my fault that some people either do not invest in their future or can't? Why should I pay more taxes than others? I am not rich. I was putting money into retirement when I was poor by the way. That would be because I dont trust the gov to do the right thing. And yes I will call out people for being too short sighted to invest in an IRA of some form. Money for computers and the internet? Money to put away. Money for smokes and booze? Money to put away. Lets face facts even $10.00 a week is better than nothing and over a life time it is something. Start the habit young and stick to it.
So there goes another attack on the middle class by a democrat. I am not republican. That said is it my fault that some people either do not invest in their future or can't? Why should I pay more taxes than others? I am not rich. I was putting money into retirement when I was poor by the way. That would be because I dont trust the gov to do the right thing. And yes I will call out people for being too short sighted to invest in an IRA of some form. Money for computers and the internet? Money to put away. Money for smokes and booze? Money to put away. Lets face facts even $10.00 a week is better than nothing and over a life time it is something. Start the habit young and stick to it.
Obama attacking the middle class? I thought he was trying to fatten them up by attacking the rich instead?
This is going to hurt everyone who relies on the stock market. Then again, everyone know this was going to happen. We knew the country had to make moves towards balancing the budget. No way around it, and we weren't going to like it. Very bad timing though. Hope the O man has another gig lined up for next year...
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