president trump and congress rewriting the tax code. racing to pass a bill that will affect every american family. turning seven tax brackets into four. doubling the standard deduction. increasing child tax credit. this is a middle income tax reduction. it s not necessarily that clearcut. bill slashes the corporate tax rate to 20% from 35. eliminates estate tax helping wealthy americans and ends deductions that many families rely on for million expenses, student loans and state and local taxes. it s a complex, comprehensive issue that you can t just go in for one hour and get it all and say, okay, looks fine. whether it s good for you will depend a lot on where you live. take the flowers family. in cresten iowa. under the new plan, standard
purchases in the first 9, we are taking out imbedded taxes so that loaf of bread that has the farmer s taxes, the miller, the bagger, the truck driver and the grocery store, those five taxes are imbeddedbedded and invisible are taking them out with and replacing them with one visible tax, of 9% to get help from the income tax reduction. in terms of new goods so i understand it, if i buy a used car, that s a new car to me, but it s a used car. would that be covered by the sales tax? if it is a usessed car, no matter who buys it, you don t pay taxes because it was paid the first time. things only get taxed once. that s the beauty of it. all right. now, in terms of this whole tax and you make some assumption, one is that prices are going to go down because of