PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: American Spirit who wrote (340553)	1/9/2003 12:16:48 AM
From: DuckTapeSunroof	Read Replies (3) of 769670

Little to no stimulus effect. No help to corporations - which are the weakest point in our economy currently, no simplification of our convoluted and corrupt tax codes, no elimination of loopholes, tax codes still skewed toward going into debt (because you can deduct the interest... but earnings paid out in dividends are not deductible), adverse effect upon states and localities (pressure on Munis and REITs), adverse incentive to use retirement plans (dividends paid into retirement accounts will get taxed when the money comes out, but div. paid in regular accounts will not be)... altogether, a politically driven mess of an economic program. ---------------------------------------------------- George Will sees it: "...But the stimulative effect of the president's proposal to eliminate taxation of individuals' dividend income is limited, because half of all dividends go to 401(k)s, pension funds and other untaxed accounts. It would be better to cure double taxation by allowing corporations to expense dividends against income." washingtonpost.com

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