Lady Gaga

Lady Gaga’s Tweets From The Presidential Debate Last Night

Lady Gaga Doesn’t Understand The Tax Code

Lady Gaga doesn’t understand the tax code. Romney had a lot of passive income on stock dividends. Companies pay income tax to the government on dividends before they distribute them (this is money that Romney didn’t get because it went to the government in taxes). Romney then received dividends on which he paid a 15 percent tax (the highest tax rate on dividends).

So the dividends, if the corporate rate were 35%, were actually taxed at 50 percent.

Taxmageddon, coming January 1, 2013, will rise this top combined rate to 78 percent (35% + 43.4%). Gee, I wonder if Lady Gaga will be investing in the stock market when that happens. Anyone?

Smart investors invest in dividends. And don’t we need a smart investor to run this country? Or do we just tar-and-feather anyone who has more than we do?