Posted on 07/11/2010 9:03:49 PM PDT by Fred
Treasury Secretary Tim Geithner offered a glimmer of hope to investors who are facing huge tax increases on capital gains and dividends next January.
In a CNBC interview late Wednesday, Geithner said the Obama administration still hopes to hold the top tax rate on both capital gains and dividends to 20% next year – the level the White House has been proposing since taking office.
Of course, a 20% rate would represent a big increase over the current 15%. But it’s a lot better than the 39.6% top rate for dividends that congressional Democrats have signaled they were planning next year for higher earners.
“This is good news for people who worry about dividends, because it reinforces the administration’s commitment to 20%,” said Clint Stretch of Deloitte Tax LLP. The tax changes are happening as the Bush-era tax cuts expire at the end of this year.
(Excerpt) Read more at blogs.wsj.com ...
and the death tax? That’s run out this year too.
That’s hope?
bast*rds.....Run them all out of office... all of them....
Who the he*l are these people....?
They certainly don’t represent me...
Lower our taxes....Is it that difficult to comprehend...?
YEAH....they’ve REDEFINED everything including the definition of “hope.” SHEESH.
there are so many people out there who have no friggin clue how bad they shot themselves in the foot voting for “change”.
The “media” will never expose the truth, either.
Wow, a new set of deck chairs on the Titanic.
Taxes on dividends should be 0%, because as a shareholder the company has paid the taxes on the income already.
So you see, all of that stuff that went around the web last week on “the new taxes” is pretty much BS until it’s enacted. Remember, don’t do your tax planning based on what could happen. Wait till Congress actually gives us something more concrete, rather some preliminary stuff based on what some think tank thinks could happen. Odd are the final word on taxes isn’t going to hit till late in the year. Yes, it screws those of us that try to be proactive on tax planning, but that’s the way Congress works.
Irresponsibly.
Still, odds are that generally taxes will be higher. It’s all cyclical though. Eventually the voters get tired of being shorn and ratchet the tax rates back again (after throwing the statists out). Was it Bette Davis that stated, “It’s gonna’ be a bumpy ride”?
Yeah, this will not make conservatives happy as the tax is still being raised, and it will just anger Zer0’s base because they want the tax really high.
Zer0 has no political clue...
Geithner/Omoslem promised something regarding taxes?
Kinda like “If you make less than $250,000 you won’t see your taxes increase ONE DIME?”
LIARS.
Pass the bill or you are just yanking election-year chains.
Can’t wait until the IRS jails his ass in 2013 for skirting Obamacare laws...
Well won’t happen, but the FEAR ought to be instilled into this maggot.
Oh goodie! Big Brother is increasing the chocolate ration to 30 grams!
This is HUGH! I can’t believe Geithner actually said it. Won’t believe it until the ink is dry...this would be the first pro-business pro-capitalism idea of the Obamanation, if true.
This is good, it’s the old “setting the initial offer in fairyland” negotiating tactic so subsequent offers to screw you by only 33% look positively good. And if they only get a 22% or 25% tax rate? Hell, it’s better than 39.6%!!! We should be absolutely ecstatic!
I mean, what do these a-clowns think we are, wet behind the ears 16-year-olds? As if nobody’s ever seen this before? And he’s playing it with both ends, too, because his hard-over marxist progressive supporters are looking at 39.6% and saying it should be 93.6%.
>> Taxes on dividends should be 0%, because as a shareholder the company has paid the taxes on the income already.
Not taxing dividends also encourages companies to PAY dividends, because shareholders begin to demand them.
And since a company must be profitable to pay dividends, it encourages profit-oriented business strategies (rather than merely “growth oriented” strategies that seek to boost share price — remember the late ‘90s?).
Profitable companies are healthy companies. Healthy companies are reliable employers. And the wheel goes round.
Put another way, tax-free dividends put owning a share of stock back on the footing of owning a piece of an income stream, rather than owning a speculative token.
Not taxing dividends is beneficial for society. Taxing them is *damaging* in the long run.
now don’t even get me started about capital gains... :-)
>> I mean, what do these a-clowns think we are, wet behind the ears 16-year-olds?
You’re acting like you think it’s YOUR money. It’s not. It’s SOCIETY’S money, to be distributed as your betters choose. You should count yourself lucky they let you keep any of it at all.
Then it'll be 21%, and the year after it will increase to 22%, and so on. They are like vampires and will never stop trying to suck us dry.
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