Page 139 - Deductions News Today

Of the nations money, and pay 71% of all of the income taxes. it is bogus and wrong, the press is not coverage. >> dana: what about in any policy that you put forward, there are winners and losers. would it benefit republicans to talk about the fact that there may be some people that end up paying more under this plan? >> well, i dont think that there will be people who end up paying more. you have to get the income tax on for all americans, then it take out those deductions and loopholes, so th...

Harassment to assault to rape. >> you kept your mouth shut because you could be beheaded if you opened your mouth. >> weinsteins accusers driving others to speak out. >> its going to be much harder for men to get away with this. >> if this isnt your moment to speak up, we still have your back. >> this morning no room for errors. the countdown is on for congressional republicans to unveil their full tax plan in just five days. >> the senate can now tackle tax reform with a simple majority as the ...

Here is something we do know from the kennedy and reagan cuts. when you get the economy going guess what happens? state and local government revenues took off. if we get people back to work, higher paychecks, better jobs and jobs coming back to america, its really good for everybody. growth really does matter. >> jon: the idea is you cut 1.5 trillion of tax revenues coming in over the next 10 years and some of that money then gets replaced? >> well yes, but actually this tax cut is larger than t...

Im confident in my district, 98% of my taxpayers will be taking the standard deductions. so this doesnt mean anything to them. >> okay. while we have you, congressman, i do want to ask about the ethics issue that at the moment you are facing. it is reviewing some business dealings that you did to see if they were appropriate. did you share some sort of nonpublic information with the nih in attempting for immunotherapeutics. >> the trial failed. i lost everything i had in it. believe me, i didnt ...

On how to make this framework work and were working closely with the white house. there will be no surprises from our partners in the white house or senate when we do this. >> sandra: he was addressing whether lawmakers in the white house can get on the same page to get the ball rolling. >> there was an example just this week. look, cutting the rates is going to cost about $5 trillion. they have to find some way maybe not to pay for all of it but certainly to pay for 3 or 4 trillion of that and ...

Two-fold, how come theyre not more popular. the economy is going well. people hate them. the partys approval numbers are bad and trumps approval numbers are worse. not this doesnt make sense. if people feel good they should have better feelings about the party in power. how do you pass a tax cut and maybe you know the answer, the economy, she said were going to poor jet fuel in it. if the economy is growing how do you convince people that might not be in their interests to jump start an economy ...

Unusual for them to make $250,000 a year. their state and local taxes are 10% of that. already deducting $25,000. you add property tax, deducting $40,000 right now. you take that away, they wont be able to pay for their mortgage. theyll have no incentive to buy a house. so this a huge, huge issue for us. >> what do you say to colleagues who say statistically more people take the standard deduction than the state and local deductions? its a mathematical thing. it doesnt matter to you because its ...

They will be happy if income tax rates come down and they lose those deductions. >> dana: let me ask you, president of trump is going to be heading to asia, he will be gone for about a week. this is in the middle of the big negotiation that will be taking place on the house side. do you think it is a good thing or a bad thing that the president will be out of the country at that time? >> well, as you know, there is communication with presidents, but nothing is as good as being in washington and ...

Washington that account affect the republican agenda and potentially your business. the house last hour narrowly passing the blueprint, the vehicle republicans need to pass their tax cut plan. a jintd win for the republican leadership promising to produce the tax cut details next week. >> this budget we passed in the house will bring us one step closer to historic tax reform. more jobs, fairer taxes, bigger paychecks for americans. too long the american people have been living under a broken sys...

They are about to do in the next week. when you want to have tax cuts to the magnitude that you do, its just simply not going to fly with huge portions in the country. think about high states like new york and new jersey, california and illinois, who are very worried about the current plan to eliminate the deduction for state and local income taxes. >> i think what we have do is look at the tax reform plan in totality. when you talk about state and local income tax, 72% of americans across the c...