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Thursday, May 15, 2003
posted by gbarto at 2:27 PM:
Senate Nears Tax-Cut PassageGOP needs Cheney tie-breaker on bill that would temporarily nix dividend tax
Hallelujah! Bill Ford (of Ford Motor) had a short piece on this on the Journal op-ed the other day. While getting rid of dividend taxes won't solve all our problems, it will solve some. Notably, it will make it more useful for companies that really don't have anything better to do with the money at the moment to spin off profits to shareholders. In these difficult times, the Microsofts and Intels will no doubt continue investing in themselves. But there are other companies - particularly those with good and solid but mature markets (certain utitilities, food processors and distributors and some automotive) - that would do better to give back profits rather than hoard them from the tax man. This should help with that.
Update: Cheney's cast the vote:
Cheney Breaks Tie on Senate Dividend Vote
Vice president casts ballot in favor of key amendment to tax-cut bill that will suspend taxes on stock dividends for three years
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