This is from the UK Telegraph: “The amount of income tax paid fell sharply [in Britain] last month in the first formal indication that the new 50p higher rate is not raising the expected amount of revenue.” Well, duh. Everybody knew this was going to happen. This is why average Americans look at people who run governments and say, “Are you stupid?” If you want less of an activity, tax it, and after you tax it, if you want less again, you raise taxes on it. If you want more of an activity, you lower taxes on it. But look what government does. Read more at Obama’s “Corporate Tax Cut” is a Tax Increase! – The Rush Limbaugh Show.
Obama’s “tax cut” is paid for by tripling the dividends tax rate from 15% to 45%. Essentially half of your dividends will be taken from you. What is this going to do to the stock market? Beware of Obama bearing gifts. Somebody’s gonna get screwed!