Posted by Ken on July 19, 2000 at 00:10:33:
In Reply to: Re: The Revolution Continues posted by Armand on July 18, 2000 at 22:35:18:
Highlights of the new tax law:
- reduces top personal marginal tax rate to 42% in 2005 from today's 51%
- reduces lowest personal marginal tax rate to 15% from 22.9% now
- reduces corporate tax rate to 25% from 40% on retained earnings or 30% on distributed profits.
- eliminates tax on sales of shares by corporations in 2002
- tax dividends at half the personal income tax rate.
It seems like individuals get direct benefit and in addition if business benefit, the economy and the stock market benefits. Hopefully normal people who work for business will benefit from profit sharing, stock options, boostered individual retirement accounts. The government should even get increased tax revenue as the number of DM increases.
Naive, perhaps, but I don't get to ride my motorbike enough, So maybe I don't think correctly.