news & studies


Op-Ed & Research: The High Costs of a Tax Hike on Dividends

“The Biden administration has released a flurry of tax proposals, including a headline-grabbing tax hike on capital gains that would apply retroactively from April. Dividends would be subject to the same treatment, according to a recently released Treasury Department document. At first sight, it is easy to be distracted by the $1 million figure and surmise that only rich people will be affected, so who cares? But the harms go further than that.”

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Ernst & Young: The Beneficiaries of the Dividend Tax Rate Reduction: A Profile of Qualified Dividend Shareholders

25.4 million tax returns included qualified dividends in 2009, representing $123.6 billion of qualified dividends.

The tax returns with qualified dividends have the following profile:
*63 percent are from taxpayers age 50 and older,
*32 percent are from taxpayers age 65 and older,
*68 percent are from returns with incomes less than $100,000, and 40 percent are from returns with incomes less than $50,000.

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PPI: Taxing Capital in a Supply-Chain World

This analysis argues that the rates on income from capital investment should be kept low, because it is an important element of the kind of broader tax system we need: one that attracts and encourages capital investment, rather than reducing investment options by raising the cost of capital.

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