Obama seeks big hike in dividend taxes for wealthy

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13-02-2012 | 12:11
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Obama seeks big hike in dividend taxes for wealthy
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Obama seeks big hike in dividend taxes for wealthy
President Barack Obama's 2013 budget plan calls for significantly hiking taxes on dividends for the wealthy, a change from prior proposals that will raise the ire of dividend-paying companies.   

Obama's proposal, released on Monday, would raise the taxes investors pay on dividends to the top income tax rate, now at 35 percent, but scheduled to rise to near 40 percent next year.   

In prior proposals, Obama sought to raise the current 15 percent dividend tax rate to 20 percent for the wealthiest Americans.   

Reuters

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