Page 29 - Salt Deduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Incredible economy that barack obama built and that you see people -- but even under barack -- rob: all the good has come in the last 18 months. >> let's be clear unemployment was at 10%, he got it down to 5%. 11 million jobs didn't poof and get get here. donald trump has done great stuff for wall street and rich people by giving tax break, that's why you see engine of the stock market but regular poor people have been left behind. rob: patrice, go ahead. >> chuck, you're leaving out important details about the tax cuts. most workers who received a paycheck were getting -- did get a tax cut th...

Rating agencies aren't talking about down grading the u.s. debt and what's really interesting to charles and to adam's point is that what we see in company's reaction to the tax cuts, bank of america just out now, neil saying you're going to see record number of m & a deals, right? because of the cash coming back into the u.s.. they're talking 350 m & a deals this year. the other thing that's really interesting too about what's going on is the u.s. consumer sentiment is down three straight months. why? because the fear of that salt deduction is going away. so to car el's point, it's a buy on t...

>> macon county where i'm at right now, christian county where i live, we don't itemize to begin with. >> what about the 25% that do and are rushing to the treasurer's office? >> well, i think there's a little disarray and misunderstanding of what this tax bill is going to do. because when you look at the overall statistics in my district, alisyn, less than 10% of my constituents actually have a tax bill that has a salt deduction and a property tax bill of every $10,000. this isn't new york city, alisyn. it is a much different area. so less than 1% of the 10% that i represent fall into that le...

Harped on, people with the salt deduction, california, illinois, connecticut, new jersey, new york, blue states, high state taxes, that deduction is capped at $10,000. what can people do to minimize the effect a few days before takes effect. >> first thing we need to do is make sure you make all your state income tax payments before the end of the year. some people will make that fourth-quarter payment in january. you want to do that in december so you can maximize the deduction for this year. the other thing to consider is making a prepayment on your property tax before the end of the year. p...

Every single income bracket in almost every congressional district sees their tax rate goes down in every single income bracket even with the salt deduction going away. you'll see a huge benefit to middle class families. everybody will see the tax cut. >> neil: and some say no, what do you tell them? >> what i tell them is look at the other income tax cuts that are coming for everybody. look at how our economy will take off and how that will help them. look to your local state. if your state is raises taxes on you at such a high level that the only way to equalize it is to say please have the ...