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

To: wonk who wrote (443614)	8/15/2003 4:47:28 PM
From: Srexley	Respond to of 769670

"I think "dividend" income should be taxed they same as "wage" income and "interest" income and "lottery" income" and any other kind of income because income is income" I respect that position. But you were coming to the aid of someone who said the tax break we just recieved was really a tax increase. I would have respect for her position too if this is what she had said. That said, we are way overtaxed in general, and I am for most taxes being reduced. Plenty of fat in our Gov't spending, and the Fed's take in PLENTY of money to handle their constitutional duties. "Do you agree or disagree that where it came from is irrelevant?" I disagree. We have an income tax, and we have dividend tax, and they should be different. Note that at $10 this argument is irrelevent, but when real money is involved you will pay a "gift" tax, that I believe is the same rate as the income tax rate. Now you risk the money in an investment, and should be able to keep all of it, or at least a larger percentage of it. JMHO. "Is that fair?" I think winning the lottery is a pretty silly example because it is sooooo extreemly rare. But again, the winner would pay income tax on ALL of his winnings. When he invests that, he will get a better rate on the dividend or capital gains. It encourages investment. It's a good idea. "then you do not believe in equal treatment under the law" What? I remember reading your posts on some tech threads and thought you quite smart. It would NOT be equal treatment under the law if this guys dividend income was taxed differently than someone else's dividend income. But that it is different than your earned income is irrelevent. Keep in mind he had to pay taxes on all of his winnings as income. If you invested your money, the dividend taxes you pay would be taxed under the same rules. You guys like to conveniently omit that income taxes have been paid on the money the was risked (invested). "1. Dividend income is not income" You forgot the word "earned" before the second "income" "2. It is fair" I believe that it is fair to pay different rates on different types of income. Remember (hate to keep saying it), that income taxes were paid PRIOR to risking the money that earned the dividends. I appreciate your more honest approach early in the post that just says that you think that dividends should be taxed the same as any other income. The truth of the matter is that they are not, and I suggest trying to change the tax laws if you would like to INCREASE the tax rates on dividends. Good luck.