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Resigning instead of retiring

How you leave the federal government matters when it comes to benefits.

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Fox Report With Jon Scott

jon: changes are coming some retirement deductions next to the could be a major hit on tap for many of americans. foxbusiness gerry willis has that story. >> millions of americans are set to take a hit when changes to a much use retirement deduction kicks in next year. right now it workers over the age of 50 are able to make catch-up contributions to their 4o the 401(k) worth up to $7500 each year. the annual cap on all contributions, 30,000 dollars. but because of new rules congress passed beginning next year, people earning more than $145,000 will no longer be able to put those payments into a traditional 401(k). instead the money will be funneled into a roth ira. that means workers catch up contributions fully made with after-tax dollars rather than

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Detailed text transcripts for TV channel - FOXNEWS - 20170426:23:51:00

drug -- would he see a big jump, too. most individual deductions would go away with this plan, except for charitable, market interest, and retirement deductions for the tax bracket would get simpler. right now, there are seven brackets. if president trump gets his way, they would be three. the top rate, 35%. rental rates, 25%. low rate, 10%. the corporate tax would plummet to 15% from 35 right now. >> and 2017, we are still stuck with a 1988 corporate tax. that is why we are now the least competitive country in the developed world when it comes to corporate tax. >> that is why administration officials say they are shrugging off concerns on the hill about adding money to the deficit because officials believe that more people have jobs and more people will be paying taxes on companies that don't have to pay sis of rates will grow,

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Detailed text transcripts for TV channel - MSNBC - 20120911:00:21:00

to put -- >> i agree. >> he's also willing to raise taxes. go back to the old rates and let the bush tax cuts expire, which would bring more money into the treasury. but no one talks about how much money that would actually be. do you know? >> yes, i know. it would be for the top rates, it's over a trillion dollars. >> so it would help. >> it would help a lot but we need to let them expire for everybody. that's $2.5 trillion. there's a trillion dollars worth of loopholes easy. cut the rates, give everybody a big tax rate and they ought to be paying their fair share. $200 billion is due to capital gains and other investment preferences. how do you think mitt romney got a 14.9% tax rate. are they going to get rid of the health deduction for employer plans and so forth? are they going to get rid of retirement deductions?

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Detailed text transcripts for TV channel - MSNBC - 20120911:03:21:00

would bring more money into the treasury. but no one talks about how much money that would actually be. do you know? >> yes, i know. it would be for the top rates, it's over a trillion dollars. >> so it would help. >> it would help a lot but we need to let them expire for everybody. that's $2.5 trillion. there's a trillion dollars worth of loopholes easy. cut the rates, give everybody a big tax rate and they ought to be paying their fair share. $200 billion is due to capital gains and other investment preferences. how do you think mitt romney got a 14.9% tax rate. are they going to get rid of the health deduction for employer plans and so forth? are they going to get rid of retirement deductions? are they going to get rid of state and local tax exemptions? >> the the answer to those questions is probably not because the people don't want it.

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Detailed text transcripts for TV channel - MSNBC - 20120911:07:21:00

>> i agree. >> he's also willing to raise taxes. go back to the old rates and let the bush tax cuts expire, which would bring more money into the treasury. but no one talks about how much money that would actually be. do you know? >> yes, i know. it would be for the top rates, it's over a trillion dollars. >> so it would help. >> it would help a lot but we need to let them expire for everybody. that's $2.5 trillion. there's a trillion dollars worth of loopholes easy. cut the rates, give everybody a big tax rate and they ought to be paying their fair share. $200 billion is due to capital gains and other investment preferences. how do you think mitt romney got a 14.9% tax rate. are they going to get rid of the health deduction for employer plans and so forth? are they going to get rid of retirement deductions? are they going to get rid of

Money , Georgew-bush , Taxes , Rates , Tax-cuts , Talks , Treasury , One , Lot , Everybody , 2-5-trillion , -5-trillion

Detailed text transcripts for TV channel - MSNBC - 20170426:21:03:00

Detailed text transcripts for TV channel - MSNBC - 20170426:21:03:00
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