Word: dividenders
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That is why supporters of the measure are hoping to turn up the volume. The Business Roundtable, an early proponent of the idea, last week released a study indicating that the dividend component of the tax cut could add 500,000 new jobs each year for the next five years. Separately, an anti-tax organization called the Tax Relief Coalition has recruited 20 business organizations for a "working group" on the issue. Its first meeting is set for this week. If that is not enough to entice businesses to get on board, maybe another kind of pressure will. Activist Grover...
When President Bush talks about his plan to stop taxing dividend income, he says he's doing it, in part, for philosophical reasons. "It's unfair to tax money twice," he said as he unveiled his economic-stimulus plan earlier this month. "There's a principle involved. The government ought to be content with taxing revenue streams or profits one time, not twice...
...Among the 100 million individuals and families who would benefit if this double tax were canceled, the savings would range from several hundred dollars to more than $2,000.) On the other hand, if Bush's current stockholder proposal is enacted, the Seattle couple would save $3, because their dividend income is just...
Nothing unusual there. Indeed, Kasprzak and Williams are like the overwhelming majority of middle- and low-income families who would derive little or no benefit from the President's elimination of the dividend double tax. Of 109.9 million returns filed for 2000 by those with incomes of less than $75,000, only 20% reported dividend income...
Then there's the man credited with persuading President Bush to dump the dividend tax--Charles Schwab. Founder of the discount brokerage firm, Schwab took part in the President's Economic Forum in Waco, Texas, in August 2002. As the President listened to speakers lay out proposals for getting the economy moving, Schwab ticked off several ideas, including a recommendation "to reduce the double taxation of dividends...