Here’s another interesting part of Obama’s budget that the corrupt lame stream media refuses to report. People of all income levels hold stocks that pay dividends, not just those “evil” rich people. Yet Obama wants to hike the dividend tax rate by almost 300%. According to the Daily Caller, Obama wants to hike the dividend tax rate to 39.6%, which will really be about a 44.8% tax on income from dividends. That’s nearly three times as much as the current rate of 15%.
If adopted, the president’s proposed budget would make the tax paid on corporate dividends the same as the top rate individuals will pay on earned income starting in 2013 — 39.6 percent.
A Wall Street Journal opinion piece, however, states that the real tax rate on dividends proposed by the president would be about 44.8 percent.