What is a democratic socialist? Bernie Sanders tries to redefine the name.

[Enigmoid]

Dividends are taxed near income rates (like 45%) and capital gains rates are 20%. Buy and hold is best.

Which is the problem according to Spungo.

 

[Jhhnn]

Dividends are taxed near income rates (like 45%) and capital gains rates are 20%. Buy and hold is best.

That's not even remotely accurate.

Qualified dividends are taxed at LTCG rates outlined here-

https://en.wikipedia.org/wiki/Qualified_dividend

Some dividends are taxed at ordinary income rates-

https://en.wikipedia.org/wiki/Dividend_tax

There's an additional 3.8% tax on investment income above $250K.

The max federal income tax marginal rate is 39.6% & applies only to taxable income above $400K-

http://www.bankrate.com/finance/taxes/tax-brackets.aspx

The vast majority of Americans would shed tears of joy to pay that kind of taxes on that kind of money for a single year of their working lives, let alone pay Mitt's tax rate on millions per year indefinitely.

 

[Spungo]

Dividends are taxed near income rates (like 45%) and capital gains rates are 20%.

I want you to find your financial planner and kick him in the balls. He's lying to you and he knows it.

https://en.wikipedia.org/wiki/Dividend_tax#United_States
Dividends are taxed at 20%.

 

[werepossum]

It could work in a society where resources are unlimited, but yeah we have never really had a communist state.

Or it could work in a world where everyone was honest and where everyone would work as hard for people they don't know as for themselves and their own families.

 

[OverVolt]

I want you to find your financial planner and kick him in the balls. He's lying to you and he knows it.

https://en.wikipedia.org/wiki/Dividend_tax#United_States
Dividends are taxed at 20%.

I thought it was updated since 2003, guess not. I don't know for sure.

However, the American Taxpayer Relief Act of 2012 (H.R. 8) was passed by the United States Congress and signed into law by President Barack Obama in the first days of 2013. This legislation extended the 0 and 15 percent capital gains and dividends tax rates for taxpayers whose income does not exceed the thresholds set for the highest income tax rate (39.6 percent). Those who exceed those thresholds ($400,000 for single filers; $425,000 for heads of households; $450,000 for joint filers; $11,950 for estates and trusts) became subject to a top rate of 20 percent for capital gains and dividends.[7]

Hmm interesting.