Page 5 - Tax Windfall News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Are huge and permanent. and in 2019, foreign stockholders who own 35% of the stock are going to get a $48 billion tax windfall that will be paid in large part by these millions of americans who will see their taxes go up. so it is a raw deal for american taxpayers and the reality is those who will get a tax cut in the middle class, it will be small and temporary. if you're a millionaire, you will make an average tax cut per year of over $45,000. every year. so big tax cuts for the very wealthy, big tax cuts for corporations. tax hikes for millions of folks in the middle class and small tax cut...

>> i thought the corporate tax should be lowered without increasing the debt. in other words, some corporations today pay the top rate of 35%, and some pay 0%. so we should reform that, but that's not what the republican bill does. what the republican bill does is provide this huge corporate tax cut and the bill will be picked up by millions of middle class taxpayers, as you indicated, huge increases in the national debt, which our republican colleagues spent many years talking about how dangerous that was. and by increases in premiums in the health care exchanges. so how is that putting middl...

The whole idea is that it would rev up the economy, more people would be maging more money and more people would be paying income and revitalize the economy. i can't see in the future to know that has happened. do you disagree with the concept that it's like a stimulus bill? >> greta, there is no doubt that in the short term if you provide that kind of tax cut you're going to give the economy a big sugar high. the reason we did it during the economic recovery bill was the economy was in the gutter and we needed to put more money into people's pockets so they'd go out and spend more as you just...

Us how. >> reporter: when voters in washington state legalized recreational marijuana last november, pot smokers celebrated the way you would expect. but many politicians were equally as high on the promise of a tax windfall, projected to be $530 million a year. there's only one problem. the actual revenue will likely be about half that, so long as medical marijuana remains unregulated, untaxed and a whole lot cheaper. >> people thought there were going to be laws surrounding it, and medical marijuana is an avenue to side step the laws and regulations and the revenue. >> reporter: medical mari...

Story in the l.a. times. says amazon.com is about to pocket millions of dollars in sales taxes paid by california customers. customers in the golden state will start paying sales tax to some online merchants in the fall. now the paper reports that amazon is setting up warehouses in san bernardino and patterson. in exchange the company will get a big chunk of the tax windfall. a sign of our times in the "seattle times" a story about recession generation. class of 2005 and the struggles encountered since high school graduation. many will remain resilient despite struggling to find jobs and carry...