The Coming Tax Ambush On Seniors" Dividends
Missing from the Romney campaign strategy is the exposure of the incredibly important and historical punishing taxation awaiting seniors if Obama wins the election.
Even more important than Medicare is the coming hit that seniors will get - from Florida to the rest of the nation - from the Obama plan to tax dividend income the same as marginal tax rates and increase those marginal tax rates to pre-Bush levels; and that is the scary Obama plan.
That will mean that Seniors dependent on their dividend income for survival will be the hardest hit financially of all citizen classes in the country by 2013 due to this Obama proposal which will increase the tax due on dividend income to an incredible and European size tax level of 43.
3%; that is a total increase in seniors' dividend taxes of 189%.
This financial hecatomb waiting for Seniors on their hard earned money will come via the application of higher pre-Bush era marginal tax rates to the dividend portion of their income, which has never been done previously.
Frustratingly, the dividend tax represents double taxation on the same money because it is taxed first from the producer side as part of corporate earnings, and it's taxed again from the recipient side that receives the dividend.
Great double game for the government.
It is actually a total tax on the same money of 45% today and proposed to reach in 2013 up to 82.
9% (corporate: 39.
5 dividend: 43.
3 = total = 82.
9%).
The present Obama tax calamity applies the double taxation, and then so more, by increasing the rate on dividend income to a top 43.
3%.
which represents an increase of 189% over present rates.
By letting the Bush tax cuts expire, President Obama will put back into place the high rates of pre-2003 with a top marginal rate of 39.
6%, same which will apply, according to the President's wishes, to the rate of taxation paid by dividend recipients, which wasn't done in pre-Bush taxation.
To that rate we can add the new tax on investment income courtesy of Obamacare of 3.
8% that will start being implemented in 2013, and the total rate applicable to dividends in 2013 will become a 43.
4% rate.
That is an increase in taxation of 189% on all those seniors dependent on investment dividend income for their livelihood.
It is by far the most significant heist on seniors' money and income perpetrated since the introduction of the federal tax system.
This surpasses by far the pain in the coming increases in Medicare costs as imbedded in Obamacare, and applicable immediately in 2013, or by the none-existing increase on Medicare cots in the Ryan reform plan as touted by the Obama campaign.
The Obama campaign is using an obsolete Ryan plan to make the accusation.
At any rate, the Medicare reform proposals of the Ryan plan do not apply until 10 years later.
The dividend heist on seniors will take place beginning in 2013, four months from now.
The Romney-Ryan ticket will do even better by campaigning also in this dividend taxation catastrophe approaching seniors in complement to campaigning about the Medicare issue alone.
Even more important than Medicare is the coming hit that seniors will get - from Florida to the rest of the nation - from the Obama plan to tax dividend income the same as marginal tax rates and increase those marginal tax rates to pre-Bush levels; and that is the scary Obama plan.
That will mean that Seniors dependent on their dividend income for survival will be the hardest hit financially of all citizen classes in the country by 2013 due to this Obama proposal which will increase the tax due on dividend income to an incredible and European size tax level of 43.
3%; that is a total increase in seniors' dividend taxes of 189%.
This financial hecatomb waiting for Seniors on their hard earned money will come via the application of higher pre-Bush era marginal tax rates to the dividend portion of their income, which has never been done previously.
Frustratingly, the dividend tax represents double taxation on the same money because it is taxed first from the producer side as part of corporate earnings, and it's taxed again from the recipient side that receives the dividend.
Great double game for the government.
It is actually a total tax on the same money of 45% today and proposed to reach in 2013 up to 82.
9% (corporate: 39.
5 dividend: 43.
3 = total = 82.
9%).
The present Obama tax calamity applies the double taxation, and then so more, by increasing the rate on dividend income to a top 43.
3%.
which represents an increase of 189% over present rates.
By letting the Bush tax cuts expire, President Obama will put back into place the high rates of pre-2003 with a top marginal rate of 39.
6%, same which will apply, according to the President's wishes, to the rate of taxation paid by dividend recipients, which wasn't done in pre-Bush taxation.
To that rate we can add the new tax on investment income courtesy of Obamacare of 3.
8% that will start being implemented in 2013, and the total rate applicable to dividends in 2013 will become a 43.
4% rate.
That is an increase in taxation of 189% on all those seniors dependent on investment dividend income for their livelihood.
It is by far the most significant heist on seniors' money and income perpetrated since the introduction of the federal tax system.
This surpasses by far the pain in the coming increases in Medicare costs as imbedded in Obamacare, and applicable immediately in 2013, or by the none-existing increase on Medicare cots in the Ryan reform plan as touted by the Obama campaign.
The Obama campaign is using an obsolete Ryan plan to make the accusation.
At any rate, the Medicare reform proposals of the Ryan plan do not apply until 10 years later.
The dividend heist on seniors will take place beginning in 2013, four months from now.
The Romney-Ryan ticket will do even better by campaigning also in this dividend taxation catastrophe approaching seniors in complement to campaigning about the Medicare issue alone.
