Page 65 - Deductions News Today

Republican president, the marginal tax on the very wealthy was 91%. even with all of the tax credits and deductions are figured, in the very wealthy were paying at least at the margin in terms of their highest incomes, theyre paying over 50%, that is fair, we have lost sight of that degree of fairness. we cant afford social security, medicare, the military, we cant afford any of the things we are doing for much longer without some sort of a recognition that the very rich who have never been as r...

Things youre hearing. >> i grant that. >> you typically say it before you share a thought that is your own deduction. >> my entire life, my father said jerry when you come up with these deductions that are often right, you will have trouble getting people to believe them >> you have coursey helping stones defense arguing it was not collusion, maybe just attempts collusion, then coursey hurt tone by backing up what mueller charged today. that he did intend to obstruct and mislead congress >> refe...

Street or things you are hearing. do you typically say word is before you share a thought? >> over my entire life, when i was a child, my father said when you come up with the deductions, which are often right. you are going to have trouble getting people to believe them. >> you have him helping stones defense, arguing it was not collusion, just attempted collusion. then corsi hurt stone, backing up what mueller charged today, allegedly that stone intended to obstruct and mislead congress. and, ...

There were so many deductions, so 90% tax back then was actually 30% when they took the deductions. neil: why did we bother lowering it? >> thats exactly the point that jfk made. he said-- cause he was a great supply side tax cutter. neil: he wanted from 90 plus to 70% and came into effect after he died. >> and he said the more we lower tax rates, the larger the income for the government will actually be and he was exactly right. the same argument that ronald reagan made. so ocasio-cortez, pleas...

Back to when i was a child. my father said jerry you come up with these deductions that are often right, youre going to have a tough time getting people to believe that. >> i think, mr. corsi, thats true, that statement is true. the other interesting thing about your new lawsuit against mueller to many people watching this case, its putting out new information that reporters and people are interested in. in this hearing you just had, there is a reference to you and your stepson discussing a quot...

Was around the same level. its not what the top rate, who is paying, what the deductions are. neil: now we have half the people in the country not paying taxes, may pay fica-- and the eisenhower years paying 90%. >> you could say theres more tax indequality. theres little taxes at the bottom. and this is where the wheels come off the train with this argument. bernie sanderss argument. they dont understand how taxation works in socialist countries. the high brackets in the country are comparable ...

Meaning every individual can cut $12,000 after income instead of itemizing their deductions. >> the winners are the american people because weve gotten them tax cuts and weve gotten them jobs. jobs like theyve never had before. >> the joint committee on taxations has nearly 30 million households would benefit from choosing the standard deduction. that also means an easier tax return. the irs estimates the average time to finish an individual tax return will fall by 4 to 7%. about 80% of american...

Rules about who gets those deductions. >> exactly. its not everyone. if youre a service business, a lawyer or in the financial services or whatever, you got to talk with your accountant and make sure youre maximizing what that is. along maximizing what that. along with that pass through deduction the corporate rates have come down significantly from 35% down to 21% as well. so if youre a regular c corporation youll be benefitting from that too. big, big thing in tax reform, the lesser taxes fo...

♪ jillian: good morning and welcome back. headlines out of chicago. candidate for mayor bill daily wants to rename an comprehensive after former president barack obama. according to the "chicago sun times" the proposal is not really sitting well with the family of the man its named after well former politician dan ryan. the dan ryan expressway has been in place since 1962. and current chicago mayor rahm emanuel made over a million dollars last year setting a new record. according to the chicag...

Otezla. show more of you. jillian: the mayor of chicago made over half a million dollars last year, setting a new record. according to the chicago tribune democrat rahm emanuel earned $201,000 salary in 2017. he made an additional 353,000 from investments, claimed $104,000 in deductions. and paid $118,000 in taxes. the former investment banker brought in an average income of $365,000 during his first six years as mayor. rob: loving that trump stock