Speaking of double taxation, if people were serious about eliminating double taxation, wouldn't they eliminate the sales tax, properties taxes, and a host of other taxes levied when I use of my already taxed income? The George Bush tax revolution has a long way to go if this is suppose to be some sort of principled tax doctrine.
Posted by Greg Ransom>> Speaking of double taxation, if people were serious about eliminating double taxation, wouldn't they eliminate the sales tax, properties taxes, and a host of other taxes levied when I use of my already taxed income? The George Bush tax revolution has a long way to go if this is suppose to be some sort of principled tax doctrine. <<
No, because those aren't income taxes. The reason the dividend tax is called double is because it treats the income as if it were both the company's and the shareholder's. It does not tax the same company's or person's income twice. It would do that if it taxed the company twice or the person twice. That's the kind of "double" that you're talking about.
Posted by: Bill Magaletta at May 17, 2003 01:25 AM