Contact: Marsha Richards, Communications Director
(360) 956-3482

Nearly 30% of Washingtonians would directly benefit from elimination of dividend double tax

Opponents of President Bush’s proposal to eliminate the double tax on dividend income often claim the measure would benefit only the richest few. But new IRS data show that nationwide more than one quarter of all tax returns included dividend income in 2000.

In Washington state, 28.5 percent of all tax returns included dividend income. Calculations from the national Tax Foundation show that taxpayers in our state who earn dividend income would save the equivalent of $660 per return filed if the double tax policy is repealed.

Citizens in the state who do not collect dividend income would benefit from increased investments and capital in our economy and the additional jobs likely created as a result.

Are you curious to know what you would save under Bush’s proposal? The Heritage Foundation, a national policy research organization based in Washington, D.C., has developed a Tax Dividend Calculator which allows individuals to calculate their personal savings if the President’s plan is approved.

The calculator is available on the Evergreen Freedom Foundation’s website at www.effwa.org. (Scroll down and click on the Tax Calculator icon in the right sidebar.)

ADDITIONAL INFORMATION

Tax Foundation
Heritage Foundation

Evergreen Freedom Foundation P.O. Box 552, Olympia, WA 98507 Phone: (360) 956-3482, Fax: (360) 352-1874 Email: effwa@effwa.org