Perhaps you´ve heard from various economic sages that tax rates don´t matter either to economic growth or taxpayer behavior. Don´t tell that to the companies and individuals who are busy cashing out their investments or paying dividends to get ahead of the Obama tax scythe in January. Costco, COST +5.92% the giant wholesale-club operator, announced Wednesday that it will pay a special dividend of $7 a share before the end of the year. That´s about $3 billion the company will return to shareholders that the feds will only tax at 15%
Comments: Getting paid before Obama´s tax gestapo gets going!
I know of several smaller companies that are doing just this. Paying the dividend in 2012 instead of 2013. And tax planning to avoid 2013 increase to the ´super´ rich ($250,000/yr) is in full swing. As a kid, I never thought of a mere $250,000 as super rich. Usually one needed to make 7 figures to reach that category. But now the goobernment can define ´rich´ as whatever it needs to steal via a tax. I hate my goobernment.
Talk with your accountant. See if Deemed Dividends works for your company. It is a new phrase for me, but it will save me money. And don´t forget that even if the dividend rate stays at 15% there is still a 3.5% (I think) additional tax on dividends from Obamacare coming next year. Obama may see a bounce in revenue this year, but over the next few years revenues will decline.
Half a century ago, the Beatles were really busy. After Beatlemania broke out in 1963, they played more than 1,200 shows, recorded 12 LPs and appeared in five movies. Some followed the Maharishi Mahesh Yogi, or admitted to trying acid, or spurned royal honors, or claimed to be more popular than Jesus. Then, in 1970, they broke up. But that didn’t end Beatlemania. In 1976, “Saturday Night Live” producer Lorne Michaels appealed to the band on the air, offering them $3,000 to reunite. Not long before he was killed, John Lennon had to endure
Phil Mickelson started the day with a 20/1 chance to win the Open Championship, but a remarkable charge on the back nine at Muirfield secured fifth major championship victory. While Tiger Woods and the rest of the leaders were faltering, Mickelson birdied four of his last six holes, including the 18th, to build an insurmountable lead. His final round 66 ties the best score of any player all week long. After draining a birdie putt on the 18th hole, Mickelson walked off the green and embraced his family, making for one of the greatest photos of the summer.
Four words of advice for African Americans in the wake of George Zimmerman’s acquittal: Wake the hell up. The Sunday after Zimmerman went free was a day of protest for many of us. From Biscayne Boulevard in Miami to Leimert Park in Los Angeles, to the Daley Center in Chicago to Times Square in New York City, African Americans — and others who believe in racial justice — carried out angry, but mostly peaceful demonstrations.Good. This is as it should have been. But if that’s the end, if you just get it out of your system
At this point in the long holiday weekend, I’m ready to kick back and discuss immigration reform. It’s a very important issue. Plus, I have found it difficult to keep a dinner party conversation going with the farm bill. Here’s one of the good things about the immigration bill that passed the Senate last week. It reminds us of how things used to work in Congress, back in the day when the two parties would get together and make big messy deals that we all complained about. Which now, of course, we miss. Come back, big messy deals! All is forgiven.
Jeb Bush, the former Florida governor and a potential 2016 presidential candidate, says that House Republicans should improve and then pass the immigration bill that passed out of the Democrat-led Senate last week. “No Republican would vote for legislation that stifled economic growth, promoted illegal immigration, added to the welfare rolls, and failed to ensure a secure border,” they said. Mr. Bush and Clint Bollick, co-authors of “Immigration Wars,” said in a Wall Street Journal opinion article that GOP lawmakers would sell out basic conservative principles by opposing the bill.
Now that the Senate has passed comprehensive immigration reform, the action shifts to the House of Representatives. Here the GOP´s informal "Hastert Rule" requires Speaker John Boehner to have majority support among Republicans before he will bring legislation to the floor for a vote. That means an immigration bill will need a far greater share of Republican House members than the Senate version received (where fewer than one-third of Republicans voted "aye"). This is a tall order. But it is one to which House Republicans should respond. No Republican would vote for legislation that stifled economic growth, promoted illegal immigration
This is a significant moment in our public conversation on marriage. By ruling a key part of the Defense of Marriage Act unconstitutional and choosing not to rule on the question of same-sex marriage in California, the Supreme Court essentially declared that the federal government may not set parameters for the definition of marriage but, instead, must leave that power to the states. This means that the important debate about the meaning of marriage is destined to continue. Some have framed this debate in terms of “equality.” That rings with a certain American appeal. Everyone wants to be treated
Jeb Bush will present Hillary Clinton with the 2013 Liberty Medal this September in Philadelphia. Mr. Bush is chairman of the National Constitution Center, which is honoring the former first lady for her career in public service and her advocacy efforts on behalf of women, The Hill reported.The former secretary of State is considered the frontrunner for the Democratic nomination in the next presidential election. Mr. Bush has also not ruled out a presidential bid. “Former Secretary Clinton has dedicated her life to serving and engaging people across the world in democracy,” the former Florida governor
DAKAR, Senegal (AP) -- President Barack Obama on Thursday praised the Supreme Court´s ruling on same-sex marriage as a "victory for American democracy" but clashed with his African host over gay rights in a sign of how far the movement has to go internationally. Obama said recognition of gay unions in the United States should cross state lines and that equal rights should be recognized universally. It was his first chance to expand on his thoughts about the ruling, which was issued Wednesday as he flew to Senegal, one of many African countries that outlaw homosexuality.
Today’s two Supreme Court rulings involving same-sex marriage were a huge and gratifying victory in the long struggle to end government-sanctioned discrimination against gay and lesbian Americans. It is sad, this deep into the national conversation about equal rights, that five justices were not willing to recognize a constitutional right for all couples to marry, regardless of the state where they live or their genders. But the momentum for marriage equality seems unstoppable and such a breakthrough will eventually come. The first ruling struck down the central provisions of the Defense of Marriage Act, the odious 1996 federal law
Former Florida governor Jeb Bush is tuning out the "chirpers" in the Republican Party -- the critics on his right who disagree with his push for a comprehensive immigration bill. If Bush decides on a 2016 White House bid, the son and brother of two presidents said in an interview this weekend that it will be a campaign based on his two terms as governor. "It will be based on what I believe and it will be based on my record," Bush told the Christian Broadcasting Network (CBN).
ROME — For years, perhaps even centuries, it has been an open secret in Rome: That some prelates in the Vatican hierarchy are gay. But the whispers were amplified this week when Pope Francis himself, in a private audience, appears to have acknowledged what he called a “gay lobby” operating inside the Vatican, vying for power and influence. The remarks — which the Vatican spokesman did not deny and the participants at the private audience confirmed — appeared to be part of an effort by the pope to take on the entrenched interests in the Vatican
Mark Levin, who hosts one of America´s top radio talk shows and is considered by supporters to be the people´s pundit on the Constitution, is rallying his 8.5 million-strong audience to demand an historic convention of state governments to halt the "oppressive power" of the federal government. The author of two New York Times bestsellers on the threats to the Constitution, Levin hopes his latest, "The Liberty Amendments," out mid-August, will spark the state lawmakers to tap a rarely used Constitutional provision to institute measures that would brake President Obama´s use of executive orders, bar thousand-page laws and
Colin Powell has admitted to exchanging ´very personal´ emails with a Romanian diplomat but denies having an affair with the much younger woman after a hacker threatened to release their intimate messages. The 76-year-old retired general told the Smoking Gun that he met Corina Cretu, 45, roughly 10 years ago when she was working as an assistant to the president of Romania. She is now a member of the European Parliament. ´After I left the Department of State in January 2005 we stayed in touch via email,´ he told TSG.
The former commander of special operations in Northern Africa told a closed-door briefing today that he was largely detached from events the night of the Benghazi attack as he was traveling at the time. The testimony of Col. George H. Bristol, USMC, Former Commander, Joint Special Operations Task Force-Trans Sahara, Marine Corps Forces Special Operations Command Africa, had been eagerly anticipated by members of Congress. Originally, lawmakers had been told by the Defense Department that he had retired — the actual date is Aug. 1, an “administrative error” according to the Pentagon — and that they didn’t have
FORNEY, Texas - George Zimmerman, the former Florida neighborhood watch leader cleared of all charges in the shooting death of Trayvon Martin, was pulled over for speeding in North Texas on Sunday, CBS DFW reports. According to the station, Zimmerman was armed when officers pulled him over on Highway 80 in Forney, east of Dallas. (Snip) The officer reportedly did not recognize Zimmerman, who was driving a Honda pickup. Zimmerman told the officer he was armed and was then told to put the weapon in his glove compartment, according to the station.
Arizona Sen. John McCain was the Republican Party´s 2008 presidential nominee and he still wants the keys to the Oval Office. But he is beginning to sound more like a fan of likely 2016 Democratic presidential candidate Hillary Clinton. "She´s a rock star," he said in a newly released interview. "She has, maybe not glamour, but certainly the aura of someone widely regarded throughout the world," he added in a reference to her work as secretary of State. McCain, reportedly trying to win back his reputation as a GOP maverick, was asked by the New Republic
Serial sexter Anthony Weiner’s wife partly blamed herself last year when her horndog husband confessed to her that he was at it again. Friends and family told People magazine that Huma Abedin was kicking herself at the time for bailing out of couples counseling and focusing more on their newborn baby boy. But, thanks to a new round of joint therapy that continues even now, the couple was able to put the relapse behind them. “They really became a unit, and she feels much closer to Anthony now,” a relative told the magazine. That’s a long way from how Abedin
Gotta figure her lead would be even bigger without Joe Miller in the field here. Her nomination for the taking? Alaska should be a top tier pick up opportunity for Senate Republicans next year…but their top choice of a candidate is Sarah Palin. 36% of GOP primary voters in the state say they’d like Palin to be their standard bearer against Mark Begich to 26% for Mead Treadwell, 15% for Dan Sullivan, and 12% for Joe Miller.
Sen. John McCain — a Democrat? There was confusion Wednesday after the Arizona Republican mistakenly strolled into President Obama’s meeting with Senate Democrats at the Capitol. The room full of Democrats — who happened to be meeting in the same room where the Senate GOP usually holds their weekly policy luncheons — erupted in applause and laughter as the former Republican presidential candidate made his entrance. As McCain, 76, walked out of the Dem-filled space, reporters pressed him as to why he stepped foot in the room.
In preparation for the release of Oscar-bait film The Butler, Forest Whitaker, Oprah Winfrey, and director Lee Daniels (Precious) sat down with Parade magazine. The film chronicles a butler (Whitaker) who works in the White House through seven administrations. Winfrey plays the butler’s wife. In the interview, Winfrey explained her sadness that so few Americans know about the history of the civil rights movement: “They don’t know diddly-squat. Diddly-squat.” She then said of the historic use of the n-word, “I always think of the millions of people who heard that as their last
If we learned anything about Barack Obama in his first term it is that when he starts repeating the same idea over and over, what´s on his mind is something else. The first term´s over-and-over subject was "the wealthiest 1%." Past some point, people wondered why he kept beating these half-dead horses. After the election, we knew. It was to propagandize the targeted voting base that would provide his 4% popular-vote margin of victory—very young voters and minorities. They believed. He won. The second-term over-and-over, elevated in his summer speech tour, is the shafting of the middle class. But
In her first speech since taking over the Environmental Protection Agency, Gina McCarthy came out swinging Tuesday and promised to ramp up the aggressive climate change agenda laid out by President Obama.(snip)“Can we stop talking about environmental regulations killing jobs? Please, at least for today,” she said during remarks at Harvard Law School. “We need to cut carbon pollution to grow jobs. We need to cut carbon pollution to strengthen the economy. Let’s talk about it positively. Let’s approach this as an opportunity of a lifetime. There are too many lifetimes at stake.”
[Video] Ouch. New Jersey Gov. Chris Christie turned down an offer by Sen. Rand Paul to join him for a beer and bury the hatchet in their ongoing -- and very public -- feud. "I´m running for re-election in New Jersey. I don´t really have time for that at the moment," Christie said in an interview on a local radio station. The New Jersey governor said if he finds himself in Washington, "I´ll certainly look him up." But he added: "I don´t suspect I´ll be there anytime soon. I´ve got work to do here."