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Six months to the tax increases
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walks the talk
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Posted 1:24, 08/21/2010
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Aug. 19 marked "Cost of Government Day
(http://www.costofgovernment.com/ )" as measured by Americans for Tax Reform. ATR
defines it as "the day on which the average American has earned enough gross income
to pay off his or her share of the spending and regulatory burdens imposed by
government at the federal, state, and local levels."
It took 231 days this year to
pay for the cost of government -- an extra month more than in 2008 before Obama took
office. According to ATR, "In other words, in 2010 the cost of government consumes
63.41 percent of national income." Astounding. pp
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Oogie
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Posted 9:36, 08/21/2010
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The tax RATE on stock dividends will rise January 1, 2011, to 39.6% for some taxpayers. Right now the RATE is 15% for most taxpayers, but is 0% for the two lowest tax brackets. It may look as if the rise to a RATE of 39.6% (almost $.40 of tax on every dollar) from a RATE of 15% is an increase of RATE of 24.6%- and it is. But as an increase in the tax amount paid, the increase is 164%. That is huge!
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