10-05-2012, 08:40 PM
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#27 (permalink)
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Senior Member
Join Date: Feb 2002
Location: U.S.A.
Posts: 13,643
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Quote:
Originally Posted by Dirty Harry
Clearly you have little understanding how the tax code works. He only pays 13% of personal income tax. The dividends from which his income is derived was already taxed at 35%, so technically his income is taxed at a rate of 48%. It's actually probably even higher if you factor in state and local taxes.
There is a reason why dividends are only taxed at 15%, and that is the reason.
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WHAT?!
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