Except New Hampshire taxes investment income, as does Tennessee, which can be significant if your financial assets are mostly in nonretirement accounts.
With health care taxes on investment income and higher Medicare taxes coming in 2013, the top federal rate will be closer to 45 percent.
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Should President Obama win reelection in November, it is widely-expected that taxes on investment gains will rise, while Republican challenger Mitt Romney has proposed completely eliminating capital gains taxes.
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The goal is not simply lower taxes, but the eventual elimination of all taxes on investment income.
The capital gains tax would increase by nearly 60%, counting the new ObamaCare taxes on investment income.
And it would require the GOP to raise taxes on investment income something the party has opposed for years.
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Cain wants to simplify and flatten the tax code, replacing taxes on income and investment with taxes on consumption?
The company said it pays local taxes on overseas earnings and U.S. taxes on investment income generated at its Irish subsidiaries.
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Further, assume no income taxes, investment fees, commissions, or other charges.
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One such subject being the effect of taxes on investment returns.
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But while many of his opponents would eliminate all taxes on capital gains and dividends, Romney would zero out taxes on investment income only for the middle class.
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The lower taxes on investment income mean that many high-income taxpayers face a lower ETR than middle- and upper-middle-income people who get almost all of their income from working.
Hiking taxes on investment income and growth would thus hit a relatively small number, albeit a lot of widows and orphans are dependent on dividend income and especially from those faithful utilities.
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Romney wants to cut taxes on investment income.
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Although taxes for investment properties have been traditionally softer than for other types of investing, second homes seem to be a gray spot for the IRS. All rental losses are passive losses or hobby losses, and these can only be used against--written-off against--income from other passive activities like other rentals, a private partnership you don't help operate or an S-corporation.
The Democratic nominee for president supports plans to raise income taxes ... raise payroll taxes ... raise investment income taxes ... raise the death tax ... raise business taxes ... and increase the tax burden on the American people by hundreds of billions of dollars.
And since no high-profile Republicans want to raise taxes on gains and dividends (and many would cut investment taxes even further) this budget would likely result in a huge tax cut for those who need it least.
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Traditional tax cut economists think that since ultra-high taxes discourage work and investment, lower and lower taxes must endlessly improve incentives.
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Will cutting investment taxes for middle-income households boost the short-term economy, as Romney claims?
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Harry Reid (D-Nev.) is still trying to repeal carried-interest tax rules, thus raising taxes, for investment managers.
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For small business owners, it would remove barriers to growth, cut taxes, incentivize investment and create new demand.
Add in the new ObamaCare investment taxes and the tax rate on interest income is close to 45%.
When you retire and take money out, you pay no taxes on the investment or on the income it's earned.
Obama would eliminate most tax breaks for investment at the top while Romney proposes flattening investment taxes across the board.
And most of them would likely be better off if Congress extends the payroll tax holiday than if it eliminates their investment taxes.
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It would alter Social Security for those under age 55 by letting people put some of their payroll taxes in personal investment accounts.
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The president said he only wanted younger taxpayers to be able to set aside some of their Social Security taxes in private investment accounts.
Here, Daughter received distributions (even if just to pay taxes on the investment income), and had access to the Trust through a debit card.
For them, the end of the Bush-era rates on both ordinary income and capital gains plus the new Obamacare investment taxes are far more important.
Either way, the minimum tax dramatically increases effective taxes on foreign investment money that could be used to buy down U.S. corporate tax rates, reduce the deficit, or both.
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