Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Posted by taxguru on January 29, 2003

Not A Slam Dunk

According to Bruce Bartlett, a change in the membership of Bush’s economic advisory team may make it more difficult to keep up the push for eliminating the double taxes on corporate profits in the face of the left’s class warfare. It will be a very tough sell to a country with almost no understanding of how a capitalist economy is supposed to function.

A caller to the Limbaugh show the other day was whining at how unfair it would be if his neighbor’s dividend income were tax free while he had to pay taxes on his carpentry income. The caller was completely oblivious to the fact that such dividends represent income that has already been taxed at the corporate level and forcing the shareholder to pay a second tax would be the truly unfair thing. I have a hunch that such ignorance is more widespread than is healthy. So; don’t start counting on tax free dividends just yet.

KMK

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