I can't speak for the accuracy of this.
The Two Americas
This is quite interesting. One of the candidates running for political office has talked a lot about the "Two Americas". His wealth is estimated at around $70 million. He created a corporation of himself (he is the only member of this corporation) and pays himself most of his earnings as Corporate Dividends, not as salary or wages (like most of us do). Is there something the matter with this?
Well, yes, because in paying himself Corporate Dividends, medicare taxes (which you and I pay) are not levied on dividend income.
So, this political candidate has avoided paying $600,000 into the Medicare System, which he would have paid if he took his earnings as income. Very clever, don't you think? This corporation was begun in 1995.
But, he says that others aren't paying THEIR FAIR SHARE OF TAXES! (you know, the Two Americas)
His name is JOHN EDWARDS.
The Two Americas
This is quite interesting. One of the candidates running for political office has talked a lot about the "Two Americas". His wealth is estimated at around $70 million. He created a corporation of himself (he is the only member of this corporation) and pays himself most of his earnings as Corporate Dividends, not as salary or wages (like most of us do). Is there something the matter with this?
Well, yes, because in paying himself Corporate Dividends, medicare taxes (which you and I pay) are not levied on dividend income.
So, this political candidate has avoided paying $600,000 into the Medicare System, which he would have paid if he took his earnings as income. Very clever, don't you think? This corporation was begun in 1995.
But, he says that others aren't paying THEIR FAIR SHARE OF TAXES! (you know, the Two Americas)
His name is JOHN EDWARDS.
