Bogus Stimulus. by Robert Kuttner.

Old Blog Import

Kuttner weighs in:

The administration also claims that dividend income should be exempt from the income tax because corporations already pay taxes on their profits.”It’s unfair to tax money twice,” the president has declared.

But why special treatment for dividends? Workers pay income tax on wages and salaries, and then they pay sales tax at the store and property taxes on their homes and excise taxes on tickets — all on spending from earnings that have already been taxed once.”