Don't Blame Me, I Voted For Kerry Message Board

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Politics : Don't Blame Me, I Voted For Kerry

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To: Brumar89 who wrote (9775)	3/23/2004 6:09:12 PM
From: CalculatedRisk	Read Replies (2) of 81568

This is a good example of Kerry and Bush: double taxation of dividends. I oppose double taxation of dividends too, in principle, just like Bush and Kerry. But I also oppose Bush's plan! Why you ask? Because Bush screwed it up. He should have made dividends a deduction for companies (not taxable for the corporation), but taxable for the individual. Instead he did it backasswards. The first way would help with transparency for corporations (only companies with positive cash flow could pay dividends). It has other advantages too. The Bush way has numerous problems, here are two: most Americans invested in stocks are in 401(k) or other retirement plans. The Bush plan does not eliminate taxation for them, it just defers it! Ouch. Blunder. It also provides an incentive for corporations (especially tightly held) to borrow money to pay dividends. This creates a "moral hazard". Blunder. Kerry is correct. Double taxation should be eliminated. And he was right to vote against the Bush plan.

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