Page 39 - 39 6 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The key provisions, we've known a lot of them. the corporate rate dropping from 35% to 21%. the child tax credit boosted from $1,000 to $2,000. individual rates acrass the brackets. they say this is going to help middle class families. this is something the democrats dispute. the idea that on the individual rate cut, taking the top income earners down from 39.6% to 37% is nonsensical. but here is the rub. republicans both like the this plan and at this poirnt want to vote for this plan. we took the best of both ideas in here and in many cases because we have a tlib rat timetable. we had announ...

So it's extremely important to state the obvious here. but let's start on the individual taxes. republicans pledged that they would simplify things and cut rates. on a, not quite. in the current law, there's seven rates. in the new law, if it gets signed into law, there are also seven. lowest rates at 10%. that will stay the same. as it stands currently, 15% is the next rate. the proposal brings that to 12%. the republican rates are 22%, 24%, 32%, 35%, and the one we've been paying a lot of attention to, 37%, down from the current law of 39.6%. a lot of democrats have attacked that. why are yo...

That will stay the same. as it stands currently, 15% is the next rate. the proposal brings that to 12%. the republican rates are 22%, 24%, 32%, 35%, and the one we've been paying a lot of attention to, 37%, down from the current law of 39.6%. a lot of democrats have attacked that. why are you giving the highest earnings a tax cut? the republicaning sayi is sayin for people that have businesses that pay on the individual side. there are other elements here that are important. take a look at the corporate tax cut. going from 35% down to 21%. there's no question, anderson, in plan is tilted towar...

What do people need to know about how the brackets are changing? >> as of right now we're looking at the tax brackets we do have seven. the republicans said they wanted to get down to three or four but we're sticking with seven and as far as the bill, it would drop today's 39.6% top rate on individuals to 37% and then the standard deduction used by around two-thirds of households that would be nearly double to 24,000 for married couples. pete: while they cut the tax rate from 39.6 to 37 they reduced the amount of income to hit that threshold so it was a million dollars now as a married couple ...

They want to penalize if a state wants to do more and tax itself, the citizens of the state to do more in terms of improving the quality of their lives they want to be penalized and the point is they get rid of that so they're going to compensate for that how? by reducing the very top tax rate. making hundreds of thousands -- making $500,000 you get a reduction in the rate from 39.6% to 37% to offset losing the state income tax deduction but making $100,000 and not in the bract you get no relief and even there to say they will offset the negative effect of the tax deduction it's to the only ve...