Pages

Jump to bottom

12 comments

1 compound_Idaho  Wed, Feb 22, 2012 11:59:23am

Makes it particularly tough on the retired. Many rely on interest and dividends for much of their income. Well, not interest given today's rates.

2 dragonath  Wed, Feb 22, 2012 12:13:21pm

I think what the WSJ is referring to is "Qualified Dividends" (Under the Bush tax cuts, dividends that are taxed at the same rate as capital gains), even though they aren't making that clear. This wiki page has a small data sheet explaining the changes.

After December 31, 2012, all dividends will be taxed as ordinary income, and ordinary income tax rates return to those in effect in 2000.

So... it's a return to Clinton tax rates.

And "ObamaCare". Jeez, WSJ, really?

3 researchok  Wed, Feb 22, 2012 12:25:47pm

re: #1 compound_Idaho

re: #2 dragonath

Any way you slice it, the vast majority of dividends re paid into pension funds.

What the government taketh away from widows and orphans, they will have to pay back in increased social spending.

And we all know how efficient government is.

4 Jimmi the Grey  Wed, Feb 22, 2012 1:03:28pm
Keep in mind that dividends are paid to shareholders only after the corporation pays taxes on its profits.

So are wages and commissions. Why are they not considered double taxed? Or is it that you feel special consideration should be given to money you invest (read gamble)?

5 danarchy  Wed, Feb 22, 2012 1:16:10pm

re: #4 Jimmi the Grey

So are wages and commissions. Why are they not considered double taxed? Or is it that you feel special consideration should be given to money you invest (read gamble)?

Actually, by definition aren't profits what are left after paying operating expenses such as wages and commissions?

6 Jimmi the Grey  Wed, Feb 22, 2012 1:20:15pm

re: #5 danarchy

Actually, by definition aren't profits what are left after paying operating expenses such as wages and commissions?

Hmmm. Wasn't sure of that. Do businesses get to deduct those expenses from taxable income?

7 Jimmi the Grey  Wed, Feb 22, 2012 1:35:07pm

re: #6 Jimmi the Grey

Hmmm. Wasn't sure of that. Do businesses get to deduct those expenses from taxable income?

I've never been anything but a wage earner, and have been given an ear full from bosses/business owners about how they pay taxes on the money that I am payed, which is then taxed again. I may be the victim of libertarian propaganda here...sorry.

8 danarchy  Wed, Feb 22, 2012 1:45:16pm

re: #7 Jimmi the Grey

I've never been anything but a wage earner, and have been given an ear full from bosses/business owners about how they pay taxes on the money that I am payed, which is then taxed again. I may be the victim of libertarian propaganda here...sorry.

Well there are always taxes, the employer is responsible for certain payroll taxes, but it is not taxed as income, and in general those taxes can be deducted later on.

9 Daniel Ballard  Wed, Feb 22, 2012 1:45:44pm

re: #7 Jimmi the Grey

I've never been anything but a wage earner, and have been given an ear full from bosses/business owners about how they pay taxes on the money that I am payed, which is then taxed again. I may be the victim of libertarian propaganda here...sorry.

They might have referred to their share of your S/S or the other costs of employment like workers compensation for injuries on the job.

10 Jimmi the Grey  Wed, Feb 22, 2012 1:57:20pm

re: #8 danarchy

re: #9 Daniel Ballard

All good, but I guess I'll have to use my search fu to find out if taxable income is all income or income minus labor costs...the former of which is what I was led to believe.

11 danarchy  Wed, Feb 22, 2012 2:15:04pm

re: #10 Jimmi the Grey

Look under the Business expenses section, but I can save you the trouble, employee wages are deductible.

IRS tax Guide

12 Jimmi the Grey  Wed, Feb 22, 2012 2:49:44pm

Ugg. Not sure if I am getting it as I'm not a tax savy person, but it does appear I was punked by LibProp. My analogy was faulty.

I have learned something today.


This page has been archived.
Comments are closed.

Jump to top

Create a PageThis is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.
Or... you can just click this button to open the Pages posting window right away.
Last updated: 2021-06-05 2:51 pm PDT
LGF User's Guide RSS Feeds Tweet

Help support Little Green Footballs!

Subscribe now for ad-free access!Register and sign in to a free LGF account before subscribing, and your ad-free access will be automatically enabled.

Donate with
PayPal
Cash.app Shop at amazon
as an LGF Associate!
Recent PagesClick to refresh
Indigenous Americans Ruled Democratically Long Before the U.S. DidDemocracy: it was older and more widespread than we thought. At the Oconee site, called Cold Springs, artifacts were excavated before the valley became an aquatic playground. Now, new older-than-expected radiocarbon dates for those museum-held finds push back the origin ...
Thanos
2 weeks, 4 days ago
Views: 1,349 • Comments: 0 • Rating: 2
Tweets: 3 •