Page 11 - Tax Decrease News Today

If donald trump was handing them a billion dollars from trump tower--neil: well have to see that. >> its going to be very marginal for them and then middle class people in high tax states are going to be homes. neil: adam what do you think of that youre in a pricey neck of the woods. >> indeed. charlie is exactly right and by the way, what happens with peoples paychecks wont necessarily be the final say. whats more important for the people charlies talking about is when they file their tax retur...

This is not a tax cut for 90% of the americans, this is a tax increase for anybody that makes money paying ordinary income taxes. maybe if you pay capital gains taxes, if you have a lot of partnership income, this could be a tax cut. for people who have a w-2, this is a tax increase. >> how? how is that? how does it raise their taxes? >> how doesnt it raise their taxes? cutting the -- if youre a private equity guy, you get a tax decrease -- >> no, no. >> the top rate goes from 39.6% to 37%. youv...

Doesnt address any of those problems. and in fact, if anything, what it does is it drops the top tax brackett down. so to the extent they helped anyone here, they gave more to the super wealthy instead of trying to, for instance, raise the child tax credit or provide some tax relief to middle class earners. >> well, how will middle class earners see their paychecks change? >> well, what theyre going to see in the first couple of years is a very minimal tax increase, which will then kind of scale...

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We done on the fund raising front. >> we have broken, because of him and because of you, we have broken every record in the history of the rnc post presidential. over $120 million. thank you. thank you. >> thank you. >> great job. rana has been outstanding. great job. we have a lot of folks that have helped us so much with the campaign. im going to talk to you about another campaign that we just finished last night. last night about 3 in the morning i got a call. a said call me. you can call me....

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Kraft was very nice. he owns the patriots. he gave me a super bowl ring a month ago. which was very nice. but he left this beautiful ring, and i immediately give it to the white house and they put it someplace, and thats the way -- >> how great. >> hes a good man. he said to me, you have to do us all a favor. give the tax decrease to the middle class. we dont need it. we dont need it. we dont want it. give it to the middle class. and ive had many people very wealthy people tell me the same thing...

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Talking about tax rates in new york of 10% on a state level. youre talking about property taxes that have been going up and are very significant, so if you eliminate that deduction, that is a tax increase for new yorkers right? >> gary: its not necessarily a tax increase. in fact its a tax decrease because were going to replace that with other pieces. what people havent seen yet and this is what people have to do. they have to take a look at the plan in its entirety. were going to elongate the b...