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One of the people who will benefit from this deal will be Costco's co-founder and former CEO Jim Sinegal who owns more than two million shares of its stock and will collect about $14.4 million from the special dividend. Had he taken that next year, he could be slapped with a tax rate of 43.4 percent if Obama's proposed tax increases become law (boosting the tax rate on dividends to over 20 percent and adding a surcharge tax on millionaires).
People don't even realize Obama is not going after the wealthy, just go after the working suckers.
Exactly, with a net worth of $11 million he is wealthy but goes after the sucker who don't have anything near $11 million. People on the left are so jealous and naive.
Did you see the story about Costco borrowing $3.5 billion to pay a special $7 a share dividend to its stockholders before year's end to avoid being hit by President Obama's higher tax on investors?
What makes this story especially juicy is that it reveals how Obama's fat cat supporters, who bankrolled his bid for a second term and embraced his proposed tax increases, have taken steps to shield themselves from the president's "tax the rich" fiscal money grab.
Actually, a lot of people on the left would love to tax wealth if they could.
Obama paid more than his 'fair share'. Eighteen plus percent is more than anyone should have to pay to the fed.
lol, really? But many people are paying much more than 18%. So why doesn't Obama pay 39% like he proposes. Oh we are talking about the dear leader, that's why.
Obama has failed abysmally to spur faster, job-creating economic growth which is sorely in need of a booster shot from private capital markets -- the very investors he wants to tax into oblivion in 2013.
Obama has a net worth of $11 million. He just released his 2012 federal income tax returns. He and the First Lady filed their income tax returns jointly and reported adjusted gross income of $608,611. The Obamas paid $112,214 in total tax.
Obama's effective federal income tax rate is 18.4%.
I'd say Obama paid too much in taxes. Everyone should be paying a flat tax of 10% or so and we should move away from the class warfare that the politicians have the people focused on.
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we are talking about the dear leader, that's why.
