Because the kiddie tax is imposed only on unearned income in excess of $1,700, unearned income below that threshold is taxed
at the child's rate.
Ron Wyden of Oregon, has emerged into the Bradley role, with a proposal that would redefine simplification and fairness by taking as its central idea that all income, from whatever source, should be taxed
Specifically, Subpart F makes it difficult to operate in the same manner as foreign competitors since our competitors are generally not taxed
in their home country on foreign operating income while U.S.
Qualified dividends and long-term capital gains currently are taxed
at a maximum rate of only 15%, much lower than on ordinary income such as interest and short-term capital gains.
The capital gains rate reduction, however, did not go into effect until May 6, Any gains earned prior to May 6 will be taxed
at 20% while gains realized after May 6 will be taxed
at the lower 15% rate.
For those in the 10 percent or 15 percent rate bracket, net long-term capital gains will be taxed
at only 5 percent.
Americans and most other people these days are already taxed
up to their eyeballs, yet the architects of the new world order are pushing more and more aggressively for a global taxation regime.
So you're taxed
on every dollar you earn up to $62,000, then above that you don't pay a nickel.
Yet, those who earn wages and spend them are taxed
Businesses would be taxed
on their gross revenue less cash wages, salaries, and pensions paid (but not benefits); purchases of goods, services, and materials used in business; and all capital equipment, structures, and land.
The steam supplied by Con Edison to a landlord can only be taxed
under Section 1105(b) if it is a "sale, other than ...
Since 1967, most Western European countries have been using VATs, under which a company is taxed
only on the value it adds to a product.