By
Beacon Author
on September 7, 2010 at 10:33 am
Have Your Investments Taken a Hit? Another Investment Attack Is Coming!
If you think that your investments have been hard-hit with the economic downturn, another hit is on the horizon. And if you are a senior, many of your investments are in the cross-hairs. Many seniors - 59% exactly - receive dividend income from many companies, including utility companies, as a part of their retirement. Unfortunately it's not just limited to seniors - working families and their retirement investments are being targeted as well.
Do you think this is limited to those who are wealthy? Does earning $75,000 a year qualify a family as "wealthy"?
In fact, 54% of those families and individuals who earn less than $75,000 a year would be included in this automatic tax increase coming January 1, 2011. Without action from Congress, your investments will face an automatic tax hike. How much of a hike? Try 146%. Yep, that's not a typo - a whopping 146% increase! And we didn't even mention the 33% increase in the capital gains tax rate that is a part of this "package." So you better prepare for the increase - or take action today.
Our economy cannot handle a tax increase on middle-income families and seniors like this. You need to act fast, because Congress is going to be debating and acting on this issue when they return from their summer recess. September 14 is when they come back.
To stop this, we need to act now.
Email our Senators and Representatives by clicking here.
Call the offices of Senator Conrad (202-224-2043) and Senator Dorgan (202-224-2551) and Congressman Pomeroy (202-225-2611) and ask them to oppose a tax increase on dividend income and a tax increase on capital gains. And take opportunities to call in to radio shows. Without action in North Dakota, your investments will take another hit. |
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Dustin Gawrylow
North Dakota Taxpayers' Association
701-751-2530
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