Stifling of Dividends

In case none of you have been listening to the news, the president released his new budget for 2013, all taxes go UP!  So hang on all you small businesses, this will hurt. Let's start with income taxes, the Bush tax cuts expire 12/31/12, that will put the max tax rate to 39.6%, the president wants to increase capital gains taxes to the same level.  Add in the planned phase-out of deductions and exemptions and the rate is 41%. add in the Obamacare's 3.8% investment tax surcharge  and the new dividend tax rate for 2013 is....44.8%, ya hoo!,( per WSJ).  It is currently 15%. How did your think he was going to pay for all the big government programs he wants.  He has increased the size of government 20% in three years.
If you are retired and living on your dividends, your going to get a big tax increase, no matter how much money you earn. Don't listen to that "250,000 income only", it's a lot of crap!  And by the way, if your company grosses $250,000 or more per year, according to the government, you are FILTHY RICH!
There is also new taxes coming out for real estate sold, on personal and investment.  So much for a business friendly administration! 
There is one way out, November 6 is election day, if you don't vote, don't bitch!


Your Business Guru


John


comments? 

A Political Finding

My subject matter is a little different today, not as much business as politics. I am straying from my course of small business, BUT, I have no choice. Last week our President crossed the line in trying to dictate to the catholic church to pay for all employees in hospitals and charities for contraception . This goes against all beliefs of the church, that is a first  amendment right in the Constitution. Where he thinks he gets the authority to do this is unknown.it appears this administration is trying to regulate all sections of our  economy, even the right to religious freedom. Starting with heath care,(obamacare) to financial,( Dodd Frank bill), to NLRB siding with unions and environmentalists stopping the  Keystone pipe Line. The tactics he is using are the same tactics that FDR used in the 30's/40's, after the depression, they did not work then, they are not working now, what got us out then was WAR! Please bear with me on my rantings, but ,i cannot wait for Nov. 2012.




Your Business Guru


John
jg@beltwaydevelopment.com