Tax Neutrality? Corporate Tax is down, now cap the Dividend and Capital-Gain benefit.
The dividend tax credit has always been defended under the concept of double taxation. Tax the corporate profit and then tax the shareholder for the distribution of said profit. And then there is the secondary argument that you need to provide an incentive for an investor to take the risk over buying bonds.
Both arguments are long overdue to be addressed.
Now we see Billion Dollar deficits and not one word about capping the Dividend Tax Credit for the uber wealthy.
… Read more Tax Neutrality? Corporate Tax is down, now cap the Dividend and Capital-Gain benefit.