Sur Tax News Today : Breaking News, Live Updates & Top Stories | Vimarsana

There's a sur tax for people earning more than $10 million. where the bulk of the money in this package will come from is, for instance, corporations that are paying nothing currently. my republican and my democratic -- >> neil: you're referring to the 15% minimum tax so that that is not dodged. >> yes, sir. >> neil: you think that is disproportionately held with companies and high network individuals that are now responsible for paying for virtually all of this? >> well, i think there's a lot of folks that are not paying anything right now. as i was going to say, my constituents, whether repu...

At a fair rate. but it has to be realistic. can we tax unrealized gains? should we tax inrealized gains or focus our energy on taxing high income earners with the marginal rate by 2.6% and with a very high wealth, high earner 3% sur tax. to me what we did with the ways and means committee product is more predictable, certainly clearly constitutional and what i can't understand is why is it that we're avoiding taking what we know will work and coming up with ideas that are unclear when to a great extent we're talking about taxes derived from many of the same people. i don't think people will sa...

A graduated structure. the top rate at 26.5%. it raises the top rate for capital gains from 20% to 25%. it adds a 3% sur tax for individual income over $5 million. got that? the joint committee on taxation looked at it and said together it would only raise $2 trillion over the next ten years. there is still $1.5 trillion short. what is in plan b? one possibility is do what president biden wanted in the first place. jack the overall corporate tax rate to 28% which is still below where it used to be and capital gains rate at under 40% which is nearly double where it is now. i want to bring in ja...

As well, that could pushup to one of the highest corporate tax rates in the industrial world. it is small companies, sub-chapter s's i worry about most. they will be eliminating bonuses trump tax cuts got, like 20% deduction on business income you got right off the bat. biden administration wants to eliminate that, that was helpful to small businesses and there is 3.8% sur-tax as well in the biden plan. these people, it is small companies i worry about most, they were hit terribly by the lockdowns and hit by riots. now they are getting hit by the vaccine mandate, they need taxes to suck them d...

Of a dead-end issue to pursue a goal of a higher sur tax on millionaires or the richest in the garden state. now is not the time, especially when you can't deduct state local taxes and a high tax state like new jersey. that will chase people away. art laugher is a former adviser to ronald reagan. i envision fireworks there. what do you think? >> there will be fireworks. it's crazy what they're doing, neil. when you think of eliminating state and local tax deductions will do, it will raise the taxes by 45% just by itself and adding on top of that additional tax increases, it's crazy. new jersey...