Your Amazon purchases help support this blog, Thank You. It took some time with thousands of files, music, photos and spam mail but I finally hit the wall with my free storage on Google. The same thing is happening on the hard drive which edging toward full capacity. My whole life is like this, a cellar and attic full of stuff. So much stuff. I know I am in trouble when I buy more storage bins to hold the stuff I never plan to use. Gmail stores all the mail you send and receive which is the reason that Hillary didn't use it. My mailbox is a mess. I have offers from Nigeria for millions of dollars, political newsletters from 2008 etc. You probably have the same problem don't you? So what should I do? 100GB for 2 bucks a month seems like a good bargain. Ten bucks a month for a full terabyte seems even better. I'm such a Google fanboy that they are always my first choice for technology. However the folks at Amazon give me money when folks buy stu
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Individuals who earn most of their money from dividends pay a low rate on that income, partly because that money has already been taxed at the corporate tax rate of 35%. Add to that the 15% dividend tax and you have one of the highest income tax rates in the world.
Add to this that we're talking about a tax on capital which is the money that goes into growing businesses and creating jobs and you have a policy which is not going to be doing anything to help our economy.
As the President now says, this is not about making a serious attempt to reduce federal debt since the CBO scores the increased revenue at only 0.01% of the federal budget deficit. This is a populist appeal for some sort of social justice in tax policy which actually exacerbates our current economic problems.
What we should be focusing on is real tax reform which lowers tax rates overall and eliminates tax deductions which favor some individuals over others based on government whims. This is the recommendation of the President's blue ribbon deficit reduction committee, which was convened to great fanfare and then duly ignored.
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