If Millionaires can Pay Only 14,1% Tax: Why do they want a tax cut?

I am educated. Double taxation is a myth invented to confuse you. Each entitiy in the chain pays taxes separately. The income I get from a dividend is taxed once for me.

I believe, as Citizens for Tax Justice do, that the rate on gains from investments should be equal to the income tax rate.

Educate Yourself:
"My compliments to the author of “ An Opinion on Dividends’ Taxation ” who stated that double taxation of dividends is a myth.

In addition to his logical presentation, corporate income is subject to the “art” of accountancy which is ofttimes elastic: Declared dividends are precise, exact and determined by the whim of corporate boards.

In the case of a corporation with a current deficit that declares a cash dividend, where is the double taxation?

The myth of double taxation—like other myths—is politically inspired. "
From:
http://www.journalofaccountan...

And more:
"An Opinion on Dividend’s Taxation.
By William N. McNairn
August 2003
There is no factual evidence that dividends are double-taxed. To claim they are is a complete falsification indulged in by many who would know better if they examined the facts.

Dividends are taxed only once to stockholders. The income taxes the corporation pays are completely different than those paid by stockholders—they are calculated at different rates and under different rules and regulations.

To say that stockholders pay corporate income taxes is at complete odds with the facts. The corporation is well-established as an entirely separate and distinct legal entity. The stockholders do not manage corporate operations or have title to its assets. They are not management and cannot take possession of a pro rata share of corporate buildings or other assets. Stockholders do not declare dividends or run the corporation’s daily operations—they simply own a piece of paper that entitles them to a share of net assets on dissolution and to dividends if corporate management declares any.

It is true the ups and downs in a corporation’s profitability will affect all parties interested in its operations whether they are employees, lenders, taxing authorities or stockholders, but it is not true they are all double-taxed simply because the corporation pays taxes on its income. So, let us therefore hear the end of the myth of the double taxation of dividends. It just doesn’t hold up under any honest study of the facts. "

William N. McNairn, CPA
Palos Verdes Estates, California



Other Sources:

http://www.ctj.org/taxjustice...

http://pragmatos.net/2008/09/...

I think the real quistion is
why are you so worried what other people pay in taxes?

maybe /could be,
you will get more goverment free stuff

I'll wait and see the bashing applied to Apple now that their profits are closing in on a
trillion
wait, thats not a evil corporation as is oil is
or nuclear
or coal
and yet! without those businesses
Apple wouldn't have a product at all
maybe apple should list stuff that help make thier product
coal
nuclear
equals electricity used for automation

mining for metals
euals the guts of thier product
and OIL
the pretty wrapper plastic made from OIL

you should ask about Apple's profit vs thier fair share of taxes

or dingy harry's hat durty little man's tax returns
and land deals!