Replies to post #53298 on Zeev's Turnips Patch-No Politics (ZEEV)

[max_powers]

MAny dividends are received in IRAs and 401Ks. no tax or deferred.if currently deferred, does that mean another level of bookeeping for those dividends if not taxed?

[Captain_Jack]

As for div tax relief,, what was published early today (and can not be found) indicated it would only drop indiv rates about 5% on issues purchased after the law went in and held for a year or more. Not a lot of good in the near term for indivs,, bus break to drop inc tax on them from 36.9 to 35%,not a hell of a lot of incentive there either. More smoke & mirrors except for the long term holder buying new div paying issues. Do they dump shares in order to buy new ones at a diff date? Sounds more like DEM bs than GOP plan..

[mlsoft]

ardent....

You are preaching to the choir here. I am for cutting taxation across the board to the point where they can spend money only on such things as the Constitution specifies as the duties of the Federal government and leave the rest to the state and local governments, as was intended by the founding fathers.

My only point was that to jump out and do so without thinking of the consequences of how it is done is foolish and could cause more harm that the current system, as hard to imagine as that may seem.

BTW, you listed how they are double taxed, but forgot the state and local income taxes for most Americans, and then the death tax - all on the same money.

mlsoft