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investment income tax rate
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More than 10.000 documents for investment income tax rate
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The Kansas Democratic Party's top official cast doubt Friday that adoption of lower state income taxes hinted at by Republican Gov. Sam Brownback would guarantee economic renewal. Brownback has yet to reveal details of a task force's recommendations for overhauling tax policy in Kansas, but he expressed support for lower marginal income tax rates that transform consumer spending habits and spur business investment. The state's corporate income tax rate also has come under scrutiny by the first- term governor.
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On Jun 22, 2007, House Ways and Means Committee Chairman Charles Rangel (D-NY) and Financial Services Committee Chairman Barney Frank (D-MA) joined others to introduce legislation that would ensure that investment fund managers who take a share of a fund's profits as compensation for investment management services -- known as "carried interest" -- would be taxed at the ordinary income tax rate. The goal of the legislation is to ensure that the lower long-term capital gains tax rate is not inappropriately substituted for the tax rate on wages and earnings. The legislation gained momentum because of the growing influence of private equity firms (PEF) in the marketplace and the large compensation earned by fund management personnel. The recent high profile of PEFs has drawn attention to fl...
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The 1993 budget act raises the tax rate on investment income but retains the 28% tax rate on long-term capital gains. Because taxation of investment income is now higher than taxation of capital gains, Congress added section 1258 to discourage conversion transactions that would allow investment income to be recognized as capital gain. The effect is an unnecessary burden on taxpayers who wish to recognize capital gains on market discount bonds, preferred stock and investment interest expenses. The effects are discussed in detail.
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Kemp was a patriot whose tax cuts, once enacted, turned America around from economic decline and international retreat to growth and bloodless victory in the Cold War. Kemp took supply-side economics, the common sense idea that lower tax rates will increase the incentives for work, savings and investment and put them in legislative form: the Kemp-Roth 33% income tax rate cut. To understand the power of this change, when Reagan was elected, an American small businessman paying the top income tax rate who earned an additional $100 got to take home only $30 after taxes.
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Grover Norquist of Americans for Tax Reform tells me that about 60 percent of American adults now have money either directly invested in the stock market, or indirectly in retirement accounts. If the tax rate is raised on investment income such as capital gains and dividends, then the stock market will certainly drop. The bill, passed by Rep. Rangel's Ways and Means Committee, would subject hedge fund and private equity managers to higher tax rates.
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Thank Jeebus we have a Democraticcontrolled Congress. On September 6, the House and Senate heard testimony from private equity and hedge fund executives about proposals to raise the tax rate on investment gains of fund managers from 15 percent to the ordinary income tax rate of 35 percent.
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Ever since the Reagan and Thatcher tax-rate reductions began the process of tax competition, nations have been racing to lower rates in hopes of attracting - or retaining - jobs and investment. Since 1980 average top personal income tax rates in the developed world have dropped about 26 percentage points and corporate tax rates more than 21 points. [...] its tax laws are attractive to global investors and entre- preneurs, and second, it protects its fiscal sovereignty by choosing not to enforce the bad tax laws of other nations, at least when they are trying to tax economic activity outside their borders.
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If you're looking to trim taxes on your investment earnings by giving assets to your children, you'd better act fast. Next year, an expanded "kiddie tax" -- which taxes a child's investment income above a certain level at the parent's higher rate - - will affect older offspring.
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PHILADELPHIA -- Comcast Corp., the nation's largest cable TV operator, reported a 69 percent plunge in fourth-quarter profits Thursday due to costs related to Katrina and other hurricanes, lower investment income and a sharply higher tax rate. It's the first time since the third quarter of 2004 that Comcast's profits have fallen. But the Philadelphia-based company's cable and high-speed Internet business stayed robust in the quarter while its phone business held its ground.
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The Senate gave final congressional approval Thursday to a bill that will provide $70 billion in tax cuts over the next five years. The vote was 55-44. Republican Sen. Susan Collins was the sole member of the Maine delegation to support the legislation, which limits the tax rate on investment income and protects millions of families with above-average incomes from being overtaxed. Collins said the bill will give the economy a boost, but Snowe, one of just three Republicans in the opposition, called it "cynical" and "the wrong message" for middle-class America.
