This is news 5 today. [captioning made possible by wlwttv] jonathan good morning. Welcome to news 5 today. Thanks for joining us on this saturday morning. Meteorologist Jennifer Schack, were not going to have much of a chance to look at the bright side of life today. Citycam 5 mercifully in its showing of color out there. Jennifer look from inside to the outside to see sun. Jonathan look within yourself to feel better. At least weve gotty beauty out here. Early morning sunshine with low lying clouds. A beautiful, wonderful but Cold Saturday beginning. Jennifer you cant tell that its five below zero outside. We had wind chills down. Thats the concern today. Were close to the wind chill advisory criteria. Not quite there. So we dont have anything officially. Wind chill zero to five below for everyone this morning. Color this morning. Jennifer for the light in the sky. I think well see more sunshine this afternoon mixed in. It will not help much with the temperature. Take a look this morn
In the fulltime line in just a few minutes. All right, sarah. It has been nine months since massachusetts drivers have had to share the wrod some snow. Fox 25s jim morelli joins us live from newton where crews are set to drop a ton of snow from the roads there. Jim . Reporter they sure are. Commutes are tough around here thats par for the course throw in a little freezing precipitation and all bets are off. Tonight drivers and state agencies that clean up the road are all getting ready. The mass hike humming along tonight with snow, sleet and most dreaded of all the potential for freezing rain coming in. Some drivers were already adjusting their commute. Case in point this truck driver set to make a delivery tomorrow to the wellesley whole foods after driving from up pennsylvania. I drove a lot further than i normally do so i have a shorter distance to go to my store tomorrow. Reporter mass dot which handles snow removal on the mass pike is going into salt. What it cant control the way
Millville, 42. Wilmington, 40 and the 24 hour temperature change is impressive, anywhere from 7 to 17 degrees milder than where we were yesterday at this time. So you do the math where the numbers are right now that means we were down in the 20s and 30s for morning lows yesterday. You can see the numbers starting to improve. We got to get this cloud cover out of here and the sun will shine brightly and the sky conditions improve. Well see a little bit of moisture toward the top of the scene running through the great lake states and the western portions of new england. That should miss us to the north. Thats another cold front that will slip through here. Fortunately this time that cold front the air behind is not too terribly cold. Well see clouds through 9 00. Well see high, thin clouds. The sun may shine through that actually. 48 degrees. Le lunchtime, 54. Increase in sunshine. 3 00 p. M. , a nice looking afternoon, 56 degrees in philadelphia. Maybe a few degrees milder south and eas
Cost of tax reductions. The alternative minimum tax is 28 . If your tax rate was lowered to 25 . You still have to pay 28 . That is correct. For incomes between to london thousand dollars and 500,000, the effective tax rate is 35 . You hit the 35 rate and incomes fire lower than the income levels at which you would hit the 35 rate and regular tax. Why do they call it a patch . It is a one time year by year patch to stop the broad expansion. You could ask why they call it a cliff. They have discussed this in terms of the patch. It is a year by year increase in the exemptions. The patches nothing but the increase in the a in the exemption to prevent tens of millions of people from being forced to fill up the return you have. The only thing i would add is the package, what makes this so critical in the fiscal cliff discussion, is we are talking about the past for the 2012 taxable year. Unlike the rest of the fiscal cliff which effects rates that will apply next year. The patch applies for
Here are the figures, when you look at it. Oecd started after world war ii. You could at least tell what the revenue was. We did know what the gdp was. No. And we are now, all governments, spending 42 of the gdp. And we want to make any effort to stop that . Or are we discussing to say it has never stopped before . I think the earlier Social Security, not fully implemented. There was no medicare. It has been pretty stable since 1980. It goes up and down with the business cycle, but it is pretty stable. This is the division between the right and left. Who will continue to fight about bigger government and smaller government. We will not do it by refusing to pay for the government we have, thinking the economy in the process. That would be a good start, as a backdrop. I want to touch on your question about corporate and individual taxes. The third piece is small businesses. We work out how develop a tax code that is good for competitiveness. You need to think about how those play into it