Tag Archive: Wall Street Journal


Obama Dividend Tax Would Devastate Retirees

Tax

Tax (Photo credit: 401K)

 

Buried within President Barack Obama’s 2013 budget is a proposal to triple the tax rate on corporate dividends which now stands at 15 percent, a move that would have a severe effect on retirees, The Wall Street Journal notes in an editorial.

Obama is proposing to raise the dividend tax rate to the higher personal income tax rate of 39.6 percent, according to the Journal. The rate jumps to 41 percent with the planned phase-out of deductions and exemptions and then hits 44.8 percent with the 3.8 percent investment tax surcharge in Obamacare.

“Of course, the White House wants everyone to know that this new rate would apply only to those filthy rich individuals who make $200,000 a year, or $250,000 if you’re a greedy couple. We’re all supposed to believe that no one would be hurt other than rich folks who can afford it,” the Journal wrote.

“The truth is that the plan gives new meaning to the term collateral damage, because shareholders of all incomes will share the pain. Here’s why. Historical experience indicates that corporate dividend payouts are highly sensitive to the dividend tax. Dividends fell out of favor in the 1990s when the dividend tax rate was roughly twice the rate of capital gains.”

via Obama Dividend Tax Would Devastate Retirees.

Scott Brown‘s shocking victory in Massachusetts on Tuesday was a shot across the bow of the liberal ruling class in Washington and declared one clear message: Americans do not like the direction the country is heading, and they’re not going to stand for it, even in the solidly-blue Bay State.

The United States‘ direction today is a dangerous one, even when compared to the country’s state of affairs just one year ago, as revealed in the 2010 Index of Economic Freedom, which we are releasing this morning in a joint project with The Heritage Foundation and The Wall Street Journal. The Index analyzes just how economically “free” a country is, and this year America saw a steep and significant decline, enough to make it drop altogether from the “free” category, the first time this has happened in the 16 years we’ve been publishing these indexes. The United States dropped to “mostly free.”

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