All those with dividend income — here’s your wake up call!
President Obama and his Democrats have finally found a “hidden” way to pay for the proposed health legislation–hidden because it is a sneaky tax that you won’t know about until you pay your taxes! Although health legislation was supposed to save money, the current legislation will still cost everyone by stealing more “taxes” from anyone with dividend income — what a surprise! In fact, the new tax on all dividend income above $250,000 will be a hefty 25% increase because they are adding a 3.8% tax on dividends!
To cover the cost of those changes, the compromise would impose a 3.8 percent Medicare tax on investment income for wealthy taxpayers, a levy that would come in addition to a Senate-proposed increase in the regular payroll tax for those families. And it would slice an additional $60 billion from Medicare, with the privately run program known as Medicare Advantage targeted for particularly deep cuts, bringing the total reduction in projected spending on the program to more than $500 billion over the next decade.
Good bye, senior pension plans!
Good-bye, all who worked hard through the years and invested in America’s companies through the stock market!
Good-bye, to the concept that what you earn is yours and not the government’s.
There’s a new sheriff in town and he’s not only going to take all your guns, but is gunning for your money, too!