Should receive one, were interested in hearing what you would do with it. Would you save, would you spend it, invest it, do other . Let us known our first hour. What would you do with a tax cut . Weve divided the lines differently. If you make under 50,000, call us, 2027488000. If you make between 50,000 and 100,000, 2027488001. And if you make over 100,000, 2027488002. You can also reach us at twitter and give us your thoughts, cspanwj. Several people posting on facebook this morning, facebook. Com cspan. Washington post features a photo with President Trump and members of the Senate FinanceCommittee Meeting at the white house yesterday in his effort to try to sell members of the committee, particularly democrats, on the republican plan for tax reform. During that time with the committee, the president laid out specifics of what he hopes to see and how it might benefit americans. Heres the president from yesterday. President trump we are doubling the amount of income that is taxed at the zero bracket. In other words, the zero bracket, many people will be able to take advantage of that bracket that are not in that bracket. Were increasing the child tax credit. We will end the estate tax, sometimes referred to as the death tax. We will cut the business tax rate from the highest in the developed world of 35 to no more than 20 . According to the council of economic advisors, reducing the Corporate Tax rate from 35 to 20 would increase average Household Income by 4,000 a year. So each household on average would take in 4,000, and theyll go out and spend that money, and that will be great for the economy. Host what this plan might do, kickly when it comes to tax cuts should that happen, were interested in hearing from you what you would do with that, 2027488000 if you make under 50,000. If you make between 50,000 and 100,000, 2027488001. If you make over 100,000, you can give us a call at 2027488002. Twitter available to you, cspanwj. On facebook, like i said, several postings this morning. One says a tax cut would dwoo virtually nothing for me and my family. Taxes are not what is killing us, its stagnant salaries, skyrocketing bills, utilities, car insurance, water, internet, groceries, and Health Insurance that is totally unaffordable, so we do without. Jared roberts saying people saying they dont need a tax cut probably dont pay taxes. But i can assure you the people who do get a tax bill would actually produce in this country could use one. And jim saying keep the money i earned. I might even be inclined to donate it to charity, as it stands right now, i only donate my time because im already forced to donate through taxation. Yes, welfare is nothing but a really poorly run charity. Just some of the thoughts on facebook this morning with this idea of a tax cut and what you it. Do with youre welcome to post on twitter as well and on the regular phone lines that we do every day, thats how you can reach us too. Robert in kentucky, who falls in that 50,000 to 100,000 bracket, robert, tell us what your thinking is as far as what you would do. Caller if i was the president , i would go across the border and look at these states and see whos got the kids and all the people thats got the kids, and we need to be for the kids in this country, and kentucky is a great state. We got a great governor, and i think that the tax money should go towards the kids, and it will be a great thing, i think. You have a good day. Host before you go, make it personal. If you would get a tax cut, what would you do with it . Caller you could also around here, you could buy fourwheelers, cars, stuff like that stuff. Host thats what you would do personally . Caller thats what i would do personally, to entertain myself around here, but ive also donate to charity, to some of the kids that are locally here who go to school with no money in their pockets. And i would do good with the tax. Host thats robert in kentucky. Well hear next from brad. Hes calling us from augusta, georgia. Brad, good morning, youre next. Caller good morning. Yeah, if i one of the most attractive things to this, to me as a Small Business owner, is the tax break that were going to get. I mean, were one of the largest groups as far as businesses of employers in the United States, and so the first thing i would do is turn one of my parttime employees into a fulltime employee and expand our inventory. We lease props to movies is what we do. And so i would expand my inventory based off of what i have going on now. So i would put more money back in the pockets of my employees, thats one. On a personal level, if they expand the tax cut for my children, i have a son who goes to the university of michigan, which is not inexpensive, and i have a daughter thats in grade school that i went to a catholic school, she goes to that, so it would be nice to be able to offset some of the expenses of paying for her education, his education. So i would immediately reinvest it back. So thats why i would support this 100 , especially even with the personal tax cut, the income tax cuts, most all of that would go back into my business or, you know, retiring debt related to that. Host when it comes to the business side, we hear about this idea of expensing and things like that, what it might do for people who run business. Can you kind of explain this concept of expensing and how would you tuesday personally and how would that benefit you . Caller absolutely. Thats one of the best parts about it. What i do, when i rent a prop to a movie, most of the time i have to roll over a percentage of the profit i make into new equipment to expand my business. If it was 100 writeoff, which is part of if my understanding is correct, would be a 100 writeoff the same year you purchase the equipment, that means every dime i got back for every dollar that i spent on that would immediately have an impact on my bottom line and allow me to ex expand even morement i think thats a terrific idea. For smaller businesses that have to plan our expansions much more carefully because we dont have a lot of credit with banks, we dont get a lot of benefits, in an extremely difficult tax burden on us personally because we are Small Business owners and selfemployed, this whole tax package would allow me to expand at a much faster rate than i would under any other circumstance, and so i think a lot of people miss the point. You Start Talking about middle class, i really dont care if the top 1 of the 1 get a huge tax cut if i get all of the things that will personally benefit me and my employees. I see as an equal tradeoff. Host thats brad in augusta, georgia, telling us what he would do not only on his business side, but the personal side, if he were to get a tax cut. Phil, frederick, maryland, good morning. Caller how you doing this morning . Host fine, thank you. What about you . Caller well, im doing pretty good. In answer to your question there, i have three kids in college, so obviously my tax any tax money that i might get back would be generated towards trying to help them out as well as, you know, i do think also but i think one of the other things were missing sight of, this tax is also geared at drawing back a lot of the money that is in the off shore that is out of our country right now thats not getting taxed. I wish people would be speaking to that, because i think what trump is trying to do is really forward thinking, and it would be greatly beneficial for our country Going Forward to get that money back in this country to create jobs and to expand our economy. Thats the key, i think, to this whole tax reform process that is Going Forward. I do appreciate the fact that the middle class is being included in getting back something, because, you know, im very much in favor of the idea of lower taxes. I do agree that, you know go ahead. Host oh, no, i wanted to stop you there, only to remind folks this is what were talking about, the examples you heard about what you would do with a tax cut. 2027488000 if you make under 50,000. 2027488001 between 50,000 and 100,000. Over 100,000, 2027488002. A couple of professors from ucla have an oped in the Washington Post this morning, taking a look at this idea of tax cuts. No more tax cuts for the middle class, the middle class tax burdens are at historic lows. The Congressional Budget Office reported in 2016 that the average federal income tax rate for the middle class, meaning the middle 60 of income distribution, decline from the. in 1979 to 3. 4 in 2018 caller next up is been gentleman anyone. Go ahead. Benjamin. Go ahead. Caller yeah, the only problem with this is and on that Corporate Tax and everything, theres no guarantee that the corporations is going to take hat money and create jobs. What the republicans should have done since its their bill is they should have put a rider on there that theyve got to use that money to create jobs, and like host benjamin, go ahead. Ok, i think well go on to scott. South carolina. Go ahead, youre next. Caller good morning. If i got it, a tax break, id probably use it to renovate my bathroom. But i dont think the poor are going to get a tax break. Host you dont think that particularly will happen for you then . Caller no, sir. Host why do you think that . Caller trump is for the rich, top 5 . Host and so if you were to get one, the bathroom is your focus, right . Caller renovation of my house, yes. Host gotcha. So from the story that we showed you, the picture from earlier, the Washington Post meeting with the Senate Finance committee, meeting with President Trump, it offers some of the input from democrats from yesterday, saying that reporters were only allowed to witness the first few minutes at the white house meeting, this is a onceinalifetime opportunity in my opinion that mr. Trump said. He joked with senator ron widen of oregon, the top democrat on the committee, that the plan should get unanimous support host from georgia, hello, go ahead. Caller good morning, pedro. How are you, sir . Host fine, thanks. Go ahead. Caller with all those ideas about what to do with the tax cuts, its not going to benefit you, im sorry. The tax cuts are going to nefit the upper class of the u. S. Citizenry, meaning those monopolies, those corporations, those globalists who have all the power, who work for, who the senators and congressmen are working for, we the American People have to do is redevelop this american society, and how we do that, et actively participate. Until we make a difference, nothings going to change. Host before you go, the specific thing that convinces you, what is that . Caller thats not going to benefit me. What i do as a Small Business owner or small Trucking Company with one guy. Thats not going to gift me. Because im already doing pretty good, but theres no room for growth, because the carriers split, j. B. Hunt, these monopolies have monopolized the industry where theres no growth for me to go out and buy another unit and put someone to work, because theres no property, theres no revenue gain in there for me, regulations that are on top of that, its very hard to explain, pedro, but through cspan, through learning, through regulations that are on i should be able to explain that better, thank you so much. Host we divided the lines different until case you havent noticed. Its 2027488000 if you make under 50,000. Its 2027488001 for those between 50,000 and 100,000. For over 100,000, 2027488002. Sharon falls into the first category, washington, d. C. , thanks for calling, sharon, good morning. Caller good morning. How are you . Host im fine, thank you. Caller i am a dialysis patient, and i have a lot of health problems, staying in and out the hospital. I would love to pay the back taxes on my house. Host if you dont mind sharing what kind of money are we talking about on that front . Caller i only make 21,000 now. I only make 55 of what i made when i was working. I was a teacher. I worked two jobs. I worked during the day, and then i worked daycare in the evening. So its been kind of rough. And then my mom, she passed away. She was about 3 4 of our income , so things have gotten a little rough. That would really, really help out to have some extra money to pay the taxes on the house. Host and so year after year you owe these taxes and pay at least you owe these taxes and you get a tax bill every april, to be filed every april or so. Ller yes, and we try to put money on the taxes, but i would just like to be able to completely pay all of them and be able to rest and relax and not worry about it. Host ok. Thats sharon, and thank you for calling, sharon, sharing her experiences about what she would do if she had a tax cut come her way. The topic of a tax cut came up in the senate yesterday, this as the senate now is in the debate, expected to finish up debate today, taking a look at their bill for the budget, which republicans say is the kind of launch pad for their work on tax reform. One of those people critical of this idea of a tax cut was the oregon democratic senator. He took to the senate floor yesterday to criticize these proposals. Heres what he had to say. Four out of five benefits goes to the top 1 and half of hat goes to the top. 1 . Why should there be one single penny going to the very richest americans in a nation in which we should be striving for a foundation for every family to thrive . And we know that to thrive, our children have to have food to eat. We need to have Healthcare Programs that create peace of mind. We need to make sure our seniors have a Strong Foundation in their retirement. But instead, we see all those programs, including the opportunity for pell grants, being raided for this massive give away to the top 1 . President trump, come before the American People and explain how its possible that you can claim youre doing a plan for middle class america and youre sending virtually the entire benefits to the top 1 of americans. Host on twitter this morning, bill king writing that a business should only get 20 tax cut on the stipulation they give their employees a 20 salary increase. And then deborah saying that she would try to pay off the house before retiring in three years, adding that the amount of federal taxes that she pays exceeds 12 months of house payments. Next up is sal in new york. Go ahead. Good morning. Caller good morning. I am absolutely in favor of this tax cut, and when it comes, i plan to spend my money, which i think people will do. Heres the advantage. When you cut taxes, people have more money to spend, more money to invest, and the economy will grow, as business does better, theyll have more people making income and spending it. I think we all benefit. So i say go for this tax cut. Host so, sal, it says on the phone lines that you fall into the third category of those who make 100,000. Whats your tax burden like on a year to year basis . Caller well, im getting slaughtered by the federal government. Im a retired teacher, and the taxes that i paid to the federal government are excessive. And i would like to spend that money myself, and every time i hear theres going to be a tax cut, i hear it only benefits the rich. Its an old story. I dont go for it anymore. Again, its our money. Its not the governments money. And we will spend it, and we will invest it as we choose. And i think its a positive thing. Scommoip on the larger issue, theres a debate going on near washington about offering the tax cuts, what it does for things like the federal budget and deficit and things like that. Do you concern yourself with those kind of aspects of this topic, especially, you know, as the larger discussion takes place and what it does for the federal budget and the longterm Fiscal Health of the United States . Caller well, of course id like to see the government control its spending the way i control my spending and the way all the listeners control their spending. But i do believe that if you cut taxes and the economy expands, that will help to pay these bills, that the federal government just keeps racking up one after another. Host thats sal giving us his experience. Again, the republican plan that was released several weeks ago and touted by the administration would not only collapse the individual tax trites three categories, 12, 25, and 35 , it would increase deduction that most americans get. It would increase the child tax credit. It would repeal the alternative minimum tax, the a. M. T. As its known. It would repeal the estate tax. And it would also do reduce the Corporate Tax rate from the proposal of 35 down to 20 as proposed. Well go next to terry. Er it any west palm beach, florida. Hello, good morning. Caller good morning. How are you . Host im well, thanks. Go ahead. Caller they dont talk so much about repeeling the estate tax. They leave it out of the equation. Youre talking trillions of dollars here. Not millions, not billions. Trillions. Do the time conversion. Millions is 11 1 2 days. Billions is 33 years. Trillions is 33,000 year years. Youre giving an youre turning your children into serfs. Dont let them buy your vote with a couple of crumbs. They are giving all the money to the very richest in the country. And making it permanent. You cant recover from that. Dont let it happen. Host so you dont see any of that, should it happen, coming your way . Caller no. Ll i see is worse. Because im retired, we saved our money, we paid off our house, we have money in savings. I had money in interest. It was supposed to buy me a new car or give me a vacation or whatever, you know, every couple of years. Not a big deal. But what the fed has done, and nobody mentions the fed in this little discussion, what the fed has done is tell you up front, we are going to pay you zero interest on your savings. We are going to tell you that there is inflation, so your Social Security interests are nil. And we are going to engineer the economy to give you 2 inflation, if we can. That tells you that your savings are going to erode every year, and every year you will become poorer, and thats a deliberate tactic. Theyre doing it they tell you upfront theyre doing it. I mean, ive got several ideas of the government. Id make the fed a subsidiary with the Small Business administration, giving