“Costco, the giant wholesale-club operator, announced Wednesday that it will pay a special dividend of $7 a share before the end of the year. That's about $3 billion the company will return to shareholders that the feds will only tax at 15% rather than the 39.6% rate scheduled to kick in when the Bush-era tax rates expire next year. For households earning more than $250,000 in 2013, you can add another 3.8 percentage points in tax thanks to the ObamaCare surcharge. Costco's shareholders approved, sending its stock up about 6%. . . . Other are moving up their regular quarterly dividend to be payable in December rather than in January. . . When the capital gains rate last rose, to 28% from 20% as part of the 1986 tax reform, investors also cashed in before the higher rate took effect. ”
It's the oldest lesson in tax policy: Tax something and you get less of it and that’s why we know this isn’t about revenue, but about ruining the economy. The “transformation” he promised us in 2008.
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1 comment:
Murray sez:
You see what's happening, I see what's happening and the Tea Party see's what's happening. Have the rest of the people forgot how our great country existed for 236 years? The foreigners understood how great we WERE as they died trying to get here. Soon they won't bother. The ones that are here will want to go back.
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