"President Barack Obama should tell Democrats angered by his compromises with Republicans
on extending tax cuts to “suck it up,” New York City Mayor Michael Bloomberg said.
“He says, ‘Look, this is what I did, this is the best I can do. Suck it up,’” Bloomberg said,
when asked how Obama should deal with Democrats angered by the tax measure
and other compromises with Republicans."
Molly Peterson and Gopal Ratnam
If Michael Bloomberg is worth about $20 billion,
and makes about $1 billion per year on long term capitol gaines and dividend interest
could he save about $295,470,320 over two years if Obama’s Tax Deal passes?
.......…………….............…………..…Tax Cuts Extended…………….Tax Cuts Expired
Dividends and LT Capital Gains...........$1,000,000,000…………………$1,000,000,000?
Tax Liability…………………................…..$149,948,250 ………………….$297,683,410?
Average Tax Rate………........................…..14.99%……………….....……. 29.77%?
$297,683,410 – $149,948,250 = about $147,735,160 x 2 years
= about $295,470,320?
5 comments:
[...] If Michael Bloomberg makes 5% per year on $20 billion, and pays half his taxes on long term capitol ... [...]
[...] If Michael Bloomberg makes 5% per year on $20 billion, and pays half his taxes on long term capitol ... [...]
[...] If Michael Bloomberg makes 5% per year on $20 billion, and pays half his taxes on long term capitol ... [...]
[...] If Michael Bloomberg makes 5% per year on $20 billion, and pays half his taxes on long term capitol ... [...]
Higher tax rates will results into economic crisis. You can understand the concept in Ed Butowsky latest video, "A Taxing Game".
Post a Comment