President Bush' Proposing To Eliminate Tax On Dividend Income For Individuals

As you may have read, as part of his economic plan, President Bush is proposing to eliminate the tax on dividend income for individuals. This means that if you own corporate stock, any dividend payments you receive would not be counted as taxable income for federal income tax purposes.

Forcing Americans to pay income taxes on corporate dividends amounts to double taxation since dividends are paid from profits that have already been taxed as corporate income. This is unfair and un-American!

Moreover, the dividend tax hits seniors living on a fixed income particularly hard. Eliminating this tax could dramatically improve their quality of life and free up funds that they could put to productive uses. In addition, the dividend tax cut would give a tremendous boost to our sagging economy by giving Americans a strong, new incentive to invest in profitable, private-sector companies that produce jobs and spur growth and prosperity.

Finally, the President's proposal to end this tax on investment income is a bold first step toward overhauling our tax system to make it simpler, fairer, and flatter.

Click here to tell your Senators and Representative to support President Bush's drive to end the dividend tax today!

The proponents of high taxes and ever bigger government are fighting this plan tooth-and-nail. As usual, they are trying to intimidate those in Congress who support the President by portraying them as greedy friends of the rich.

Your elected officials need to hear from taxpayers like you that you support the President's plan because it's good for your family and good for our country. Click here to send your Senators and Representative an urgent message today!

P.S.: We need hundreds of thousands of concerned taxpayers like you with us if we are to succeed in this campaign to help President Bush eliminate the dividend tax. Please forward this message to as many as possible of your friends and colleagues and ask them to take action today! Thanks.

Below is the letter you would be sending to Congress to support President Bush's proposal to eliminate the tax on individual income for individuals:

Don't get me wrong - I love tax cuts. But in terms of priority in tax cuts, this one ranks at the bottom. I have stocks, I would love not to pay dividends on them.

But Bush's plans are ultimately misguided and Anti-American - as most of his policies are.

Put quite simplistically, the performance of stocks are primarily related to corporate profits and expectations. There are several ways to increase a company's profits. None of these tax measures will help in a company's profits nor expectations of future performance. All these tax cuts do is encourage more of the plague of corporate scandals that have already rocked Main Street as accounts are manipulated in order to enrich those who are dishonest.

If Bush actually cared about the US economy, he would recognize that corporate profits (and stock prices) would rise when their costs are brought back in line. Lower income taxes so that the cost of labor isn't so high. Reduce regulation - that move saves both government and the public money - lots of money.

When regulation, taxes, material (read:steel tariffs), energy (read:abominable domestic energy policy), US dollar valuation, interest rates and labor are high, then the only way that a company can make more money is to export assets and labor to cheaper areas.

So far, All this administration has managed to do is raise the cost of regulation and code compliance, energy, taxes, raw material, and screw with monetary rates. (the market, in its fear of crumbling stock prices has moved to destroy the bond market and like lemmings creating a historically coincidental real estate bubble by duplicating the exact same Greater Fool Phenomena that the $200/share for Yahoo stock market created).

Besides, when factories are exported (to avoid lawsuits, environmentalists, regulators, terrorists, high labor costs, property taxes, et al) so go the jobs.

So when the jobs are all gone - who buys stocks? Where are the fools that pour their life savings into the Wall Street Panzi Scheme called the NYSE/NASDAQ? People collecting unemployment insurance (something Bush extended so that people can loiter longer before looking for work) usually don't increase their stock investments.

Maybe the Chinese, Russians and Indians will click their heels in glee about a reduction in dividend taxes.

Bush makes even that loathsome character Clinton look good.

The presidency often reflects the prevailing attitude in Washginton. Since the Executive branch gets to appoint secretairies and other minions to allegedly carry out a plain (supposedly formed by the Party), then to speak of "the president" is shorthand for speaking of the party within the Executive branch of government that is calling the shots.
I recognize that people and their businesses are represent the economy. Government doesn't help a business (unless we are taking patronage, mercantilism, corporate welfare and favorable legislation), all it can do is interfere with business. Do you not believe that rivals of Microsoft were benefitted by the lawsuit? Microsoft stock took a beating. Do you not believe that there is a difference in business behavior when there is significant changes in tax policy? Do you really think that the union laws have no effect on management and the ability for companies to collectively bargain? If government has so little influence on business, why is it that Washington is so full of corporate lobbyists, and why is there so much corporate money in elections? All government has to do is screw up some foreign policy on oil and the economy suffers immensely as a result. DO you not think that when Bush closed the skies to aircraft after 9-11 that no aspect of the economy felt pain?

BTW, I cut up my Republican card when I found out that the GOP politicans where all RINOs.

And I can't stand the cultural deconstructionalism of the liberarian party - a group of people that never accounts for the fact that there is evil in this world.

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