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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.
So are Obama and the Dems anti-elderly?
Quote:
A sharp increase in dividend tax rates scheduled to take effect January 1 will hurt tens of millions of Americans who rely directly and indirectly on dividends, according to a new study prepared for EEI by the accounting firm Ernst & Young. The analysis shows that a dividend tax hike will impact Americans at all income levels—and older investors who are at or nearing retirement age will likely be hurt the most.
Release of the study comes just weeks before an expected House vote on whether to extend the current federal income tax rates, including the tax rate on dividends.
"Dividend income benefits millions of Americans who are not wealthy, including many seniors and those investing for the future of their families," said Lew Hay, chairman of EEI and executive chairman of Juno Beach, Fla.-based NextEra Energy. "Raising taxes on dividends would harm every American who owns dividend-paying stocks, as well as anyone who has an interest in a mutual fund, 401(k) plan, pension plan, or life insurance policy that invests in those stocks."
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.
This tax increase has not had a lot of press but it significantly more damaging than other increases which have had a lot of publicity. And the people it will hurt most are not the rich but middle income and poorer retirees who use their savings to supplement their social security income.
I will personally be hurt by this. I'm not going to go into detail but the hit is significant. I guess that is the penalty for working hard, being frugal and saving.
If Romney pledges to get rid of this he will get my vote and probably that of many others.
That plus thew tax when you sell your home of I believe 3% will hurt alot of middle class people plus seniors who move i retirement.Then; of course ;the increased numbers placed on medicaid when states assume their cost share in 2017.
That plus thew tax when you sell your home of I believe 3% will hurt alot of middle class people plus seniors who move i retirement.Then; of course ;the increased numbers placed on medicaid when states assume their cost share in 2017.
And what happens when no doctor in the country will take medicaid?
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.
It is such a shame to see that the Obama administration and the Senate are wanting to sock it to all of us with this tax plus the desire to do away with the Bush-Obama Tax cuts. It becomes more and more apparent that all they want is to take from those who have to give to those who don't. It is pure Marxist redistribution of wealth and it is to those who are already so dependent on the government and willing to vote Democrat because of it.
I keep wondering if we haven't let this one go too far already but re-electing The One would certainly be too far.
I'm beginning to think O doesn't like his job anymore, and is begging to get fired. Now the goal is to leave as much destruction in his wake as possible, for the next guy to clean up.
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