Originally published on Thu November 29, 2012 11:58 am
As the White House and Congress debate how to steer clear of the fiscal cliff, one obstacle is the president's insistence that the wealthy should pay more in taxes. And one way that could happen is through changing the rules for dividends and capital gains.
If you own a share of stock in a company today, when the company pays out a dividend, the most you're taxed is 15 percent. And if you decide to sell the stock and cash out, you'd also pay 15 percent on your profits — the capital gains.
Saying that the British news media have "caused real hardship and, on occasion, wreaked havoc with the lives of innocent people whose rights and liberties have been disdained," the judge appointed to sort out the mess after the U.K.'s tabloid scandal has recommended creation of an independent watchdog. It would be charged with "promoting high standards of journalism and protecting the rights of individuals."
In Britain, Brian Leveson, the judge who has spent eight months probing tabloid news excesses, has just issued his suggestions for reigning in Britain's sometime-rambunctious press. Prime Minister David Cameron ordered the wide-ranging inquiry in the wake of revelations of illegal phone-hacking at the Murdoch-owned News of the World and other newspapers. The victims included actors Hugh Grant and Sienna Miller, as well as the parents of a murdered teenager and other crime victims.