Page 140 - Deductions News Today

They are trying to keep these people from these wealthy districts, like your previous guests, trying to keep those folks happy, but at the same time, if they do something to pay for thats like a clamping down on how much deductions you can take for your 401(k) savings, how high that threshold is for that and come of that starts to hit the middle class people who are saving for retirement, people who need to have a lot of money who are over 50, so wherever you go to get this 1.5 trillion, you are...

We need to compete. we have the highest tax rate in the world. >> sir, we dont. >> you know that full well. you know -- im sure you have corporate clients. you know that you dont have a single corporate client that pays a 35%. >> sir, the fact that you are a cpa, you talk about people dont go through standard -- itemized deductions, corporations do. we can look at the statutory rate all day long. if you find me a fortune 500 who by the way their stocks are soaring, that pay that rate, i will eat...

>> harris: only 22. >> kennedy: and they almost did. this is a key point of negotiation from lawmakers in places like new york, new jersey, and california where taxes are sky-high and people need those deductions in order to survive and make it bearable. >> harris: you said it was fluid. how about this? litter clinton facing new questions about the dirt. her campaign trying to dig up on president trump and that controversial dossier. whether any laws were broken in that process and what is setti...

Idea. kevin brady wanted to leave it out there. apparently they kicked this around today and decided to fight another day on this. well know next week when its part of it or not. we know whether theres deduction for state and local deductions. you think it could cost the deal? >> well see what they come up with. theyre being deliberate, taking the time to make sure that they can get the votes. we need tax cuts. its something we ran on. our voters are depending on it. >> neil: if you dont, you th...

In which they micro targeted voters, including ways in which they tried to engage in voter suppression tactics. >> as we say in journalism, this has got legs. you keep working on it. >> theres a lot -- >> let me ask you this. >> yeah. >> what have you got? >> theres a lot -- >> about the budget. >> so the house republicans passed the budget with one vote to spare in the house. theres a lot in there but the only thing that matters is the tax aspect of this. they want to pass the tax bill through ...

So they start out by saying, well were going to raise the bottom tax rate from 8% to 10%. like wait, what? do you think that we ought to raise taxes on people at the bottom end who are paying so we can pay for tax cuts for those at the top? and then they start saying how many, how many things can we just kind of peel out of this that help reduce taxes, deductions that help reduce taxes for working families, for middle class families, and theyre just trying to get these two things to line up. >> ...

Know details next week -- is offering an additional bracket for the very rich, that their taxes will stay the same and maybe go higher and that might win over democratic votes. would it? >> making the tax system more progressive, but simpler and fairer and making it a tax frame work that encourages investment and job-creating activity like infrastructure and photograph -- infrastructure, that would move in the right direction. >> neil: what about 401(k) contributions, where do you stand? >> im f...

Were not going to support the dnc. they have a trust issue. large investors are saying show your plan. they lost the four specials. the rnc is in a great place. the president is putting forth a great agenda. >> neil: and the tax cuts are everything. >> they are. >> neil: are you surprised it was as close as it was? >> no. i knew the freedom caucus wouldnt take it as so. >> neil: you think it could change how the senate republicans vote? you might lose a couple? >> well see. theyre going to confe...

Done. like what it would mean to our economy? why are we here? why would you elect people to the house and the senate and the white house that support tax reform and cant do tax reform? i think people have a reason to ask, what is the point? i cant imagine not doing it. it would hurt our economy and confidence. i think it would be devastating politically as well. i imagine most people around here understand that, too. >> neil: in the end, the two things kicked around like the deduction for state...

Involving a certain budget. by the narrowest of votes and despite a lot of infighting that speaker ryan was allowing to. lets listen to speaker ryan earlier today. >> if were calling each other names or calling each other out or saying things against each other, what does that do to help a working mom get ahead? what does that do to advance tax reform which will give us bigger paychecks? nothing. >> neil: hes right about that. the fighting not withstanding and all the little tussles back and for...