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DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Since President Obama's r... » Reply #18

Response to JDPriestly (Reply #12)

Sat Apr 13, 2013, 01:44 AM

18. the link is nonsense though

it ignores the fact that dividend income is now taxed at only 20% instead of the same as wage income, like it was under Clinton.

Also, it may depend on WHICH Clinton rates you use, considering that Clinton himself signed into law a big tax cut for the rich - in his 2nd term (so obviously he needed to do it so he could be re-elected).

In 2010, Mitt Romney had $4.9 million in dividend income. Instead of being taxed at 39.6%, it will be taxed at 20%, saving him almost a million a year. And those tax cuts are permanent, thanks to ATRA.

And no, in spite of what his supporters will claim, Obama did NOT raise capital gains taxes on the rich.

That did happen, automatically, on Obama's watch, when the Bush tax cuts expire.

But I guess that we should be glad Obama did not cut those rates, like he did with the estate tax rates, and then call it an increase, like he did with estate taxes.

Maybe Obama should get some credit for letting some of the Bush tax cuts expire. So I will give him 15%, which is about the percentage of the Bush tax cuts that expired.

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Replies to this discussion thread
Arrow 35 replies Author Time Post
Nye Bevan Apr 2013 OP
Shrike47 Apr 2013 #1
DevonRex Apr 2013 #3
Iliyah Apr 2013 #25
neverforget Apr 2013 #2
JDPriestly Apr 2013 #7
neverforget Apr 2013 #8
JDPriestly Apr 2013 #9
avaistheone1 Apr 2013 #29
HiPointDem Apr 2013 #4
hfojvt Apr 2013 #5
IfPalinisAnswerWatsQ Apr 2013 #14
merrily Apr 2013 #16
Marr Apr 2013 #34
JDPriestly Apr 2013 #6
ProSense Apr 2013 #10
JDPriestly Apr 2013 #12
ProSense Apr 2013 #15
merrily Apr 2013 #17
ProSense Apr 2013 #19
merrily Apr 2013 #21
LineLineLineLineReply the link is nonsense though
hfojvt Apr 2013 #18
ProSense Apr 2013 #22
hfojvt Apr 2013 #31
merrily Apr 2013 #23
JDPriestly Apr 2013 #24
merrily Apr 2013 #26
hfojvt Apr 2013 #30
merrily Apr 2013 #32
merrily Apr 2013 #20
merrily Apr 2013 #11
bvar22 Apr 2013 #13
merrily Apr 2013 #27
Iliyah Apr 2013 #28
merrily Apr 2013 #33
GeorgeGist Apr 2013 #35
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