Page 72 - Deductions News Today

As well. the housing market is one of the sector thats grown more than any other sector and a lot of people are wondering whether well have some kind of a bubble burst here. it is true and its a great thing that most of the people out there have houses that are worth a lot more than they ever were before except when you go back to 2006, 2007 before that bubble burst. some people say that among the tax changes, getting rid of the deductions for state and local taxes, and minimizing how much you c...

And id like to remind everyone the average afge members take home pay is right at $500 a week. >> which is remarkable when we read that statistic. >> after taxes and other deductions. that is not a lot of money. they are living pay day to pay day. and when you shut off one pay day, it creates a crisis. >> absolutely. >> thank you so much. >> thank you so much for having me. lets get this government opened right away. >> thank you so much. listen, do you remember these scenes from last year? hu...

President trump seems to have abandoned populism. remember candidate trump, his signature issue was immigration on which he promised an unyielding hard-line including a border wall and mass deportations. his contact with the american voter was brimming with populist measures with tough actions against china to a public works program. his economic plans focused on goodies for the middle class for a 35% tax cut for middle class families to deductions for child and elderly care. he called for sever...

♪ ♪ paul: democratic governors in high-tax states are scrambling to blunt the impact of the republican tax overhaul which caps state and local deductions at $10,000. but will their strategies actually work? heres new york governor andrew cuomo last week outlining his plan for the empire state. >> we are developing a plan to restructure our tax code to reduce reliance on our current income tax system and adopt a statewide payroll tax system. were also exploring creating additional charitable ...

That the house intelligence committee now has are going to become public at some stage? do you think thats likely to happen? >> i think its highly likely, because thats what everyone is now understanding, is that the spin out there has become monumental for those who support the dossier, speculations, outright claims that its true when theres no evidence that it is. republicans worried about the fbi motives. people are coming to understand that the only way you get answers to these questions is ...

>> thank you, mr. secretary. you talk about the tax being flatter and 90% of the taxpayers benefiting from it. yet it would seem that under those circumstances you are going to eliminate a lot of the deductions, which so many small businesses and self-employed business people depend on. is there really a major cut in deductions? and how do you expect that will lay with the small business community? >> well, i think this is about taqsim if i cages and getting rid of deductions. a lot of deduction...

Payers benefiting from it. it would seem that under those circumstances you are going to eliminate a lot of the deductions, which so many small businesses and self-employed people depend on. is there really a major cut in deductions? how do you expect that well play with the small business community? >> this is about tax simplification and getting rid of deductions. a lot of the deductions that rich people take. but i will tell you on small businesses, one of the best features of the tax plan ar...

Flatter and 90% of the taxpayer benefiting from it. yet, it would seem that under those circumstances youre going to eliminate a lot of the deductions which so many small businesses and self-employed business people depend on. is there really a major cut in deductions, and how do you expect that will play with the small business community? >> well, i think there have -- this is about tax simplification and getting rid of deductions. a lot of the deductions that rich people take. but on small bus...

Reduces administrative complexity. the federal law also kills many deductio deductions. that broadens how much is subject to tax. many states will see an increase in revenue which could mean an increase on spending on education, health care and law enforcement. stating really need to new revenue. budgets took a big hit during the recession and havent really recovered because of an aging population and on line shopping cutting into sales tax. states like california, new jersey, new york, they are...

Deductions. they pick up the tab for the moocher states that we always pay the bill for. >> i want to go back to this story for a moment. stanley, lets take the other side of the coin. if youre ty cobb and we know the president doesnt like tough conversations. he doesnt like bad news. he sends people packing who try to deliver tough talk. if youre one of these two guys, what are you saying to the president? because these guys have been saying for months this investigation is almost over. its not...