Page 93 - Deductions News Today

Theyre not seeking to send him back to jail but it no longer backs a deal that would have released him from house arrest. the gop tax bill working its way through conference knit committee. republican senator susan collins says she may not vote for the final version. >> i always swayed until the final version of the bill is brought before us before i make a final decision on whether or not to support it. there are major difference es between the house and senate bills and i dont know where the...

Totality. look at the rates. look at what is happening in terms of child tax credit. the new family credit. in all of the other businesses. >> i am all for the family credit. this is another head scratcher for me. your spending $650 billion on a family credit. a family tester that lists all families? so even a very rich family? that does not need any more deductions? youre going to give them the family tax credit? some of you as well means on the high-end get the same tax credit to someone on th...

Just moments ago, president trump tweeted this. getting closer and closer on the tax cut bill. shaping up even better than projected. house and senate working very hard and smart. end result will be not only important, but special. the essence of the unified republican vision gives corporations a massive tax break and caps and ends various individual deductions in exchange. but what does all that mean for your pocketbook? well, when i want to know something about real economics, i go to the econ...

$75,000 can end up paying the higher amt, particularly if they rely on deductions. to discuss further joined by kevin hassett who does me the great service, weve been friends a long time, of joining me and engaging in the sort of, enjoyable debate you and i have had for many, many years. >> 20 years or something. >> was that a fair description of the amt? >> fair. notice it looked like it might start snowing in washington, first time this year. >> i do notice. try and keep the conversation short...

Calculate their tax rate two different ways and pay the higher rate. created in 1968. originally designed as a way to ensure high-income earners couldnt use all the tax breaks and deductions to avoid their tax burden entirely. now when it was created it affected about 20,000 high-income taxpayers. thats changed. this year, the tax policy center estimates about 5.2 million taxpayers will pay a higher rate thanks to the amt. some of this is population growth but not grown that way. 29% of all hous...

At their people of the year. back to you. >> shepard: jonathan serrie live for us. theres word that gop leaders may back down as republicans blasted part of their tax plan, cutting deductions for state and local taxes. gerri willis will be here with a look at that in just a minute. its christmas season and down in the d.c. at the childrens medical center in washington, theyre getting ready for santas arrival and the first lady who will read to them. lets listen. ♪ ♪

Also significant medical deductions can continue to occur. we help students. but we also have pay fors and we actually make it more budget positive financially than the plan now on the table. >> we save a hundred billion from the deficit on that. so its a fiscally responsible plan but one thats not going to gut our states. >> what are the chances of a government shutdown? . >> i dont think there will be a government shutdown. i know our leadership is working very hard on this issue. i think ther...

Out am i a winner or loser in this? losing all my deductions that i have but getting the -- >> sandra: who wins? >> thats the problem. under a republican government they shouldnt be asking that question. we shouldnt be raising taxes on anybody. the republican partys mantra for years has been it is your money to save your money and invest it on the needs of your family. if you need more money to pay your mortgage, put your kids through school or save for college. republicans shouldnt be raising t...

Theyre going to house senate conference to work out the differences between the bill and try to get it to the presidents desk but the problem is that -- >> sandra: i feel like i want to stop you there, marc. the american people are so confused. its a conversation everywhere, are your taxes going up or down? people cannot figure this out. so help them because you have dug into the numbers here. in your column you cite a study from the tax policy center and both come to the same conclusion which i...

Vice president of the united states, all the people getting the tax cuts. >> all the rich people. >> people are >> thats why this president is cutting taxes -- >> not for the middle class like the upper class. >> thats a flat out lie. >> that does not mean any criteria of a lie. its a straight tell on what an objective analysis is. >> are you going to tell the middle class nobody is getting a tax cut. >> no. >> their taxes have steadily gone up, and they have been paying higher taxes. we -- >> y...