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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (53411)	8/13/2004 12:21:51 PM
From: upanddown	Respond to of 89467

Bush's Tax cuts heavily favored very wealthy Actually, the cuts in income tax rates for the very wealthy is really only the tip of the iceberg of the trillions showered on the rich by the immoral and despicable Bush crowd. The reduction in the capital gains and dividend taxes to 15% has been just another bonanza for the people who never ever have enough. Look at Gates and Ballmer at Microsoft. THEY decide to issue a special $3.00 dividend and also double the regular dividend. As a result of THEIR actions, Gates gets a $3.4 Billion special dividend and his annual dividends go from 180 million to 360 million and Ballmer gets a $1.2 Billion special dividend and his annual dividends go from 66 million to 132 million. Sandy Weill, the absolute monarch at Citigroup, jacks up the dividend and HIS after-tax annual payout goes from 11 million to 27 million. All these dividends are taxed at a maximum rate of 15%, the same rate as the single mother waitress down at the coffee shop. Not that any of the big shots will pay 15% after a battalion of tax sharpies gets done with it. Gates, in a purely magnanimous gesture, is donating his 3.4 billion special dividend to his foundation, which probably means that his 360 million regular dividend will go untaxed for a decade. Ain't America grand?...for some...unless you are one of the chumps stuck with the bill.