Investment tax cuts in the new tax bill
I have been hearing that there were cuts in "investment" taxes, but never heard exactly what. *Not on TV, not in the newspaper. *Found this on internet:
Dividend, capital gains tax lowered:
The top rate will be capped at 15 percent, down from the 38.6 percent on dividends and 20 percent on capital gains. Rates for low-income taxpayers will be 5 percent through 2007.
Some of the bills cuts in personal income taxes would end after 2004, and the dividend and capital gains reductions would end after 2008, with levies then reverting to higher levels. *
Politicians of both parties consider that unlikely to occur because accusations would fly about a tax increase.
-- Telly, the D-I-Y guy --
Two fools dancing on the hands of time