September 9, 2002
Senators Warner and Allen and Representative Moran
Senators Warner and Allen and Representative Moran
PO Box 8208
Alexandria, VA 22306-8208
September 9, 2002
The Honorable John William Warner
United States Senate
225 Russell Senate Office Building
Washington, DC 20510-4601
The Honorable George F. Allen
United States Senate
204 Russell Senate Office Building
Washington, DC 20510-4604
The Honorable James P. Moran
U.S House of Representatives
2239 Rayburn House Office Building
Washington, DC 20515-4608
Dear Senators Warner and Allen and Representative Moran:
The double taxation of dividend income needs to stop now. The current code imposes an effective tax rate as high as 61%, discouraging investment and punitively harming taxpayers. The tax hits seniors especially hard, because they often rely on dividends for retirement income.
In addition, the discriminatory treatment of dividends compared to capital gains distorts the public markets and encourages the worst practices among corporate executives.
The current taxation of dividends is an anachronism and should be ended immediately.
Sincerely,
James Landrith
October 3, 2002
Mr. James A. Landrith, Jr.
P.O. Box 8208
Alexandria, Virginia 22306-8208
Dear Mr. Landrith:
Thank you for contacting my office regarding taxation of dividend income. I appreciate your thoughtful inquiry.
I will take into consideration the recommendations you have made regarding tax reform. Fundamental tax reform remains a Congressional priority. I believe that in combination with tax relief, we need to simplify our tax code. A complicated tax code is difficult and expensive to enforce, and further strains the relationship between the government and taxpayers.
There are many factors which must be considered in regards to your particular situation, and you may wish to contact the Internal Revenue Service for more details at 1-800-829-1040 or via the World Wide Web at: http://www.irs.gov.
In the coming months, Congress may take up additional tax legislation. Please be assured that I will keep your comments in mind should this come before the full Senate. Again, I appreciate that you have brought your concerns to my attention on this important issue. If my office can be of assistance in any matter related to federal government, please do not hesitate to contact me.
With kind regards, I am
Sincerely,
John Warner
JW/vas