The fact that the taxpayer now owns the majority of Lloyds means little in practice for anyone other than the bank's management and non-government investors.

A taxpayer owns a vacant lot covered with rocks.

The taxpayer still owns the same asset (i.e., the same interest in the corporation) he owned prior to the stock dividend.

The taxpayer still owns the same proportionate percentage of the corporation he or she owned prior to the stock dividend.

In this case, the taxpayer owned a residential lot upon which 40 ornamental pine trees grew.

One such situation occurs when the taxpayer has not owned the property or lived in it for the require amount of time.

Capital gains of individual taxpayers are tax free if the taxpayer owned the asset for at least three years.

And given you can't evict people or charge them a realistic rent, the taxpayers don't really own these houses.

Senator Ford's plan would reduce the capital gains tax based on how long a taxpayer had owned an asset before selling it.

Wanna bet that the "taxpayer owned" banks will soon follow up with something equally stupid to remain competitive?