Taxing Issues: Playing the Dividend Tax Cut

Published Saturday, March 01, 2003

The proposed elimination of double taxation on dividends has got many a client and advisor alike wondering: “Should I dump munis and start loading up on dividend-generating stocks?” The prudent financial advisor's response should be, “Not yet.” For starters, the dividend-excluding portion of President Bush's $670 billion tax cut plan is far from a slam dunk. Indeed, according to a recent New York Times editorial, “Even many of [Bush's] loyal supporters have declared [the elimination of dividend taxes] dead on arrival.” Even if the proposal survives, an abrupt rebalancing of a portfolio to include more dividend-paying stocks is ...

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