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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: steve dietrich who wrote (340229)1/8/2003 1:26:42 PM
From: JakeStraw  Respond to of 769670
 
sd, How can you say $3K in your hands is not better than giving it to the government to piss it away?! Especially if you're an elderly retired person on a fixed income which includes dividends.



To: steve dietrich who wrote (340229)1/8/2003 1:31:17 PM
From: Bill  Read Replies (1) | Respond to of 769670
 
Dividend income is taxed at regular income rates, not 20%.
Additionally, many states, including mine, double the tax rate for ordinary dividends.

So, at the current top rate, a taxpayer would pay 38.6% fed and 12% state tax on dividends. 50.6% total tax.


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