Page 88 - Deductions News Today

This is an historic occasion. i believe i know robert reich disagrees, but i believe this will be very powerfully progrowth. its good for businesses, wo workers, families. one of the announcements this week was that theyre withholding tables will start changing at the beginning of the wreer, so americans will learn when they see their paychecks that the media hasnt told them the truth about this. because the vast, vast majority of people in the middle class are going to get a tax cut. >> robert,...

>> even high tax states consider paying some of your state and local brought taxes now. those will be taxed at 20,000 in 2018. if you have high mortgage debt, make a big payment now. no deductions on those lines. if youre alaska, florida, nevada, texas, wyoming and new hampshire and tennessee and you would like to buy a new car, do it before the end of the year. you could deduct the tax this 2018 that wont be an option. other breaks that may go away. deductions to charities. writing off charitie...

David mercer. >> these democrats lost their minds. this is not a giveaway to the rich and let me explain they are doubling the standard deduction and the family tax credit. the people getting killed here are fairly well-off in those blue states, top middle and, high middle income people out there getting their deductions reduced. this will hit them big time. they are talking one scenario. and what corporations are going to get. we will see great growth because of this tax plan. >> people i point...

Todays race but also expected to add $4.6 trillion to the deficit over the next decade. the standard deduction would be doubled, so with the child tax credit and losing deductions, others are packed, that will stand for people who use those deductions in high-tech states, republicans are calling the strong middle-class tax relief, democrats remind us that individual tax cuts expire eventually but this tax-cut is permanent. >> im excited about this moment. it has been 31 years in the making. >> t...

More money on their paycheck is a good thing. >> the polling was right about hillary clinton, national average she would win by 2%, she won the popular vote by about that. is in their problem for republicans when americans say the wealthy benefit the most and you guys saying it is the middle class, you dont see that as an issue? >> i do. we have to do better at messaging but at the same time when we take people like oklahoma, they will receive $2200 more each year in their paycheck that is real ...

Delivery man giveth and the delivery man taketh? save the date. the royal wedding is set. good evening and thank you for joining us on this busy friday night. im cecilia vega in for david. president trump is on the verge of his first major legislative victory. the tax cuts that he promises will be rocket fuel for the economy clearing major last minute hurdles. two hold-out senators say they are now onboard. a big smile from kevin brady, the man driving that plan through capitol hill. but the i...

Deductions, theres a silver lining. most will benefit increase in a standard dediction, sing dicted. >> the final version of the tax bill would create seven tax practices. they start at 10 percent. 12, 32, 35 and 35 percent. we have heard about simplifying but how account president claim this is a tax cut for all. david schweitzer joins us. hes on a house ways and means committee. >> i appreciate you having me. >> theres criticism all over the left. minority leader says the gops

>> reporter: that may sound okay. >> it is not a big thing when you spread it throughout the year. >> reporter: i reminded them what candidate trump promised us. the other disagreed and citing all kinds of numbers and especially the deductions thats expected to double. >> thats huge. >> reporter: amy is a teacher and she did not vote for trump. she does not like the tax plan and worrying for those who are not rich or the middle class. i believe it is going to be hit hard with us, too. we are kin...

The corporate tax rate is from 35% to 21%. they also repeal obama cares individual mandate. theyll be nearly doubled. so with the child tax credit. they would lose some deductions and that will be in high tax states. it is not popular with most americans. the extra money in the pocket is going to earn them popularity. as we go down the road this will be more and more popular we know how wall street is reacting to all of this record highs. the president tweeting about that. so how is main street ...

Their student loans. there were portions out of the senate, originally the senates bill for small business owners and the way they were treated as well. those and many were. right if you were going forward on information thats been provided. when we get into 2018, we will know the real impact, and it will be real simple. for the average american when they receive their paycheck, is it higher or is it lower than it was in the calendar year 2017? the truth of the matter is, if you look at every ta...