The Bill Clinton Taxes

[Oscar Knight]

articles.latimes.com/1992-12-26/business/fi-2291_1_tax-rate

.....The year end corporate bonuses was aimed at all employees, even the working class Americans. If we made our goals, for the year, we would received an average of $1,000. to $ 1,600. dollars, and our Federal Taxes would be at 40 %. Out of $1,000. dollars, this would leave $ 600. dollars, for a meeting our goals for an entire year.

[Oscar Knight]

......When Bill Clinton began his double tax, on the working class.

......The Company ( Corporation ), that I worked for, was owned by Shareholders, which they owned Company Stock. In 1998; The hourly workers was allowed to contribute into a a Shareholders Plan. At the time, the Company would match every dollar, that a hourly employee would contribute to the plan.

.....The contributions into this plan had two options, Before Taxes (Gross Income ) and After Taxes ( Net Income - Bring Home ); I opted for After Taxes. The reason why I opted for the After Tax, was that I could draw out my money at any time, where as the Before Taxes would take a year; Plus, the tax rate would be lower at the time.

.....The After Tax contributions was a investment, and any profits made from this would be tax at the normal rate. The After Tax monies, wouldn't be subject to Taxes.

....This was not any part of our retirement plan with the company, this plan was to make every employee a Shareholder of the Company.

....Bill Clinton changed the rules, when he redefined this plan as being a Retirement Savings, and any withdraws would be penalized with stiff taxes.

[Oscar Knight]

....Perfect Attendance Bonuses :

......The perfect attendance bonuses, from my company, would be handing out to any employee that never missed one day, and one minute, from being at their previous scheduled work day. The amount awarded to these employees was $ 200., for not missing a day or a minute for an entire year.

...Until Bill Clinton changed the rules; The bring home, would be taxed at 40 %.