President Trump Update: November 17, 2017

The Truth on Trump
Friday, November 17th

House passes tax bill. Kuhner says this isn’t a good deal for the middle class. The bill includes a $1.5 trillion corporate tax cut and eliminates many individual tax break.

00:02:13

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

The troops on trial. We Jeff could there. The Republicans. Have passed a tax reform bill in the house it now heads to the senate. Buddies did good for you. That's the ultimate question. Look. There's no doubt about it. That if they cut the corporate rate from 35 to 20% as they suggest that they wanted to do in the house bill as it is in the house bill. It will unleash an economic boom. But if you actually dig deeper. This is not a great deal for middle class taxpayers. Working class taxpayers and small businesses. Why. Because over half of all businesses in America. Are not incorporated as corporations. They file a B individual rate. So they're not gonna be getting nowhere near that kind of a cut that big corporations well. Moreover. They are eventually going to get rid or freeze out most of the local and state and property tax deductions. In fact I house bill gets rid of all the deductions for state and local taxes keeps deductions for property taxes up to 101000. The senate bill gets rid of all deductions. State local and property. Which means. Our taxes are gonna go up especially. Listen to this. They inserted that clause in the house bill. That the raids that dual gold down. Our sunset. Meaning they're gonna expire in ten years. That means that tax rates are going to go opt. After ten years but the deductions elimination is permanent. Your taxes are gonna go through the roof in ten years. My friends the corporate tax cuts are permanent. Your tax cuts and mine are temporary. This is a bad deal. The president needs that tell the house and senate start all over again. And dots in the truth on trump.
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