Obama's "Sneak Attack" on Senior Citizens

[myrobbins7]

This one is going to hurt..

Dry Up Dividends, Gut Capital Gains: Obama’s latest tax proposal includes doubling the tax rate on dividends and capital gains, which is his way of paying for the irresponsible spending that is creating $5 trillion in deficits just four years. Every year Obama has been in office spending has exceeded revenue by more than a trillion dollars. The only way to over that is with tax increases, and while he talks about taxing the rich—a part of the taxes involved doubling the tax rate on dividends and capital gains. These two of the primary sources of retirement income for seniors, will be taxed more heavily and thus less desirable for companies to pay dividends.


Obama's "Sneak Attack" on Senior Citizens - Forbes

 

[golfballs]

He is retarded.

 

[OrangeEmpire]

The great part is when the political machines get rolling and the gop will be blamed for it.

 

[Weezy]

The dividends will definitely hit, I'm not sure what kind of punch it packs since I have no experience in dividends, but the capital gains 5% increase are only going to hit those over $200,000, right? What senior citizens are cashing out $200,000 a year?

That's the thing I don't understand. These tax increases are just appeasement, because as far as running a trillion dollar deficit, these do nothing. And it will only get worse when the boomers hit full on retirement. We need serious budget cuts. I don't necessarily know if I want Ron Paul size cuts, but that's what the GOP needs to propose to start the negotiations.

 

[Scotty's Flat Top]

"Give us your tired, sick, and old... and we shall taxeth them."

Think Obama said this once

 

[OrangeEmpire]

"Give us your tired, sick, and old... and we shall taxeth them."

Think Obama said this once

forgot white in there some where

 

[BeecherVol]

Rollin granny off the cliff.

 

[BigPapaVol]

The dividends will definitely hit, I'm not sure what kind of punch it packs since I have no experience in dividends, but the capital gains 5% increase are only going to hit those over $200,000, right? What senior citizens are cashing out $200,000 a year?

That's the thing I don't understand. These tax increases are just appeasement, because as far as running a trillion dollar deficit, these do nothing. And it will only get worse when the boomers hit full on retirement. We need serious budget cuts. I don't necessarily know if I want Ron Paul size cuts, but that's what the GOP needs to propose to start the negotiations.

regardless of the total hit, both policies discourage savings / investment, which is a direct negative hit to job creation and there is no debate about it whatsoever.

I don't care if this is simply window dressing, it's freaking horrible policy and it's only being enacted to help offset unbelievably irresponsible decades of spending increases.

 

[volinbham]

I presume if such a policy were enacted (3x tax increase on dividends) that companies would change their dividend policies or at a minimum dividend paying companies become considerably less attractive to investors. Either way, I could see it drying up dividend payments thus hitting anyone that depends on this income.

 

[dreVol]

the biggest asset for most in the middle class is their home. I'm sure they'll appreciate cutting uncle Sam that check when they sell it.

 

[Cartervol]

Got to pay for the parasites that leach off society somehow. Guess they need more of Granny's money now too.

 

[RespectTradition]

The dividends will definitely hit, I'm not sure what kind of punch it packs since I have no experience in dividends, but the capital gains 5% increase are only going to hit those over $200,000, right? What senior citizens are cashing out $200,000 a year?

That's the thing I don't understand. These tax increases are just appeasement, because as far as running a trillion dollar deficit, these do nothing. And it will only get worse when the boomers hit full on retirement. We need serious budget cuts. I don't necessarily know if I want Ron Paul size cuts, but that's what the GOP needs to propose to start the negotiations.

One problem for poorer folks with investments is that companies react to their largest shareholders. If the largest shareholders want something other than dividends for tax reasons, then that is what we will get. That is as it should be. However, those getting less than 200k will be hurt because they won't get dividends.

 

[Volst53]

regardless of the total hit, both policies discourage savings / investment, which is a direct negative hit to job creation and there is no debate about it whatsoever.

I don't care if this is simply window dressing, it's freaking horrible policy and it's only being enacted to help offset unbelievably irresponsible decades of spending increases.

Keeps higher unemployment and makes people more dependent on the government for their retirement. It's just the next step in trying to buy the middle class.