I think my online tax preparation software (taxactonline.com) votes Republican.
At the end of completing my taxes, it runs these alerts, which basically are supposed to tell you if anything looks weird in your filing. It's a nice little service.
But I just got this one. It is a "green" alert, meaning nothing to worry about, but you might be interested to know (numbers removed and replaced with appropriate letters)...
You have benefited from the lower capital gain tax rates. With a taxable income of $X you would have a tax of $Y using the tax tables or tax rate schedules. However, since you have capital gains or qualified dividends you are allowed to compute your tax at the lower capital gain tax rates. This gives you a tax of $Z. A savings of $GOP!
So thank you, Tax Act, for reminding me that George Bush has given me some extra profit on my investments this year. Hmm, am I going to take that extra profit and buy something, stimulating your economy? No. Like any investor, I'm going to reinvest it and try to get rich, so maybe someday I can vote Republican! |
