Pelosi Democrats want to tax away seniors’ dividend incomes

Nancy Pelosi’s House Democrats want to tax away seniors’ dividend incomes. While the Obama administration wants to hold the income tax rate on stock dividend income to the current 20%, House Democrats want to increase the tax to 39.6% for taxpayers who earn more than $250,000. While only those earning more than $250,000 would pay the highest rate, that would be enough to cause companies that pay high dividends to cut their dividends. Millions of seniors who saved and invested so that they could earn dividends in retirement would lose a big chunk of that income. Worse, a cut in dividends would cause the prices of their stocks to fall as seniors sold their stocks. In other words, Obama Democrats are about to lower the standard of living for seniors who have dividend stocks. And Congress is about to dramatically cut the wealth of those same seniors. Apparently the seniors’ votes aren’t important to the hard left Democrats who control Congress. This may be enough to give Republicans control of Congress after the November elections.

If you wonder why dividend stocks are depressed, the Democrats’ Dividend Tax is undoubtedly a major reason.

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