Listen: Trump, President And United States discussed on Todd Schnitt
"I don't think congress particularly not district congressmen and women are smart enough to look through the thousands of pages that I would ascend President Trump's taxes will be my guess is most of them don't do their own taxes. And I certainly don't trust them to look through the decades of success that the president has and determine anything Democrats still fired up over President Trump's taxes, but it's league nowhere, folks. That's that's a pretty confident prediction from truly. But I care about our taxes as in had to go and stand in line today and deal with the post office to make sure that Uncle Sam is getting enough of my stuff, and I just find it very very frustrating. Here we are paying all the taxes we do but the tax cut happened. There's some other stuff taxes taxes who turned to for insight on this matter matchy Deppler, aka doubles to me at least she is with us. Now, she is the president of forward strategy. Gies and attacks walk walk extraordinaire, Mattie. Great to have you back. Down to the wire people found a last minute. I well, you know, I filed for an extension, but I still had to write a big fat check. So what should we what should we think about where we are right now? Matt I mean, the president's tax cut he talks about it a lot GOP's excited about it. But I'll put aside for moment that we didn't elect Trump just to cut taxes. I mean, that's one of many things he wanted to do. But how good a tax cut was this really because it feels like I'm still giving money way too much money. The government. Next to mine to the government, no doubt about it. But, but this was the first time that we have had wholesale tax reform in a generation thirty one year that touch reform the tax code and Trump President Trump was the one who was able to do it. So you have to him credit there. Now over the last eighteen months since the debate on tax reform started. There has been so much misinformation out there that pretty much borderline criminal hell much the establishment press. Got it wrong on a tax cut. You thought today a front pages of the New York time talking about how there was a lot of misleading data out there. But in reality, the majority of Americans proceeded tax cut since today is the first time Americans are filing their taxes under the new code. They need to understand that after months of being lied to fortify tax payers, the United States got a tax cut as a result of the tax cut job back, and you hear a lot especially now that we're going into another presidential cycle about Americans paying their fair share need more taxes on rich people what the tax cut jobs. I did was it actually increase the. Share the burden on the higher income earners country at increase the progressively in the tax code, and even noted high income earners still got a tax cut, the people who are benefiting. The most are those who are in the middle income brackets because they were the ones who had the largest share their after-tax income increase. Thanks cut job back. If you make fifty thousand dollars a year in this country, roughly speaking, I know there's deductions, and blah, blah, blah, and all that. But roughly roughly speaking how much more cash do you have in your pocket for the year this past year twenty eighteen because of Trump's tax cut back typical American family of four is making about seventy two grand a year in country and over two thousand. Yeah, they're making over there over two thousand dollars richer as a result of the tax cut that and that's not just because they're tax rate was reduced which is true for income earners across the scale. It's also because they doubled the child tax credit and the eligibility for child tax credit was expanded. Not only do you have a bigger child tax credit. You might be eligible for it. When you weren't able to. Catch it before on the AMT alternative minimum tax, which is essentially a double tax structure where most tax filers had to do their taxes twice and then pay the highest number of their taxes that would diminish a little bit five million people out of the an T. And as a result. They now have more tax credits deductions that they can take other posited that you don't hear a lot about. But are extremely important expansion of five twenty nine savings account. That's allows families to use tax free savings, not just for college. But for primary and secondary education, as you know, without a labor shortage in this country. We've got a training Ekka epidemic in this country. Allowing families to use money for diverse education needs. It's certainly a way to help the average American family in this country. And you don't hear a lot about the ways of the tax code help. That average American family because we have to remember Democrats did not vote for the tax Bill. Not a single democrat could say, yes, I want to cut rates for the every American and I wanna cut rates at every level of the income tax code. I want to give a double. Child tax credit. I want to expand the eligibility had how tax credit USA five twenty nine. Not a single democrat could say that that was a good move for the American people. I think that the American people remember that particular day, if they're like you waiting in line to write a check to the government and not particularly pleased about it. The corporate tax cut was how important how active because what what you hear? And I've been treated a lot of this in the last few weeks on the set of rising where we have a bunch of democrat marxists who come on and talk about how this all just for the rich people. What do you say to those who claim that the corporate tax cut was just giving fat cats more cash and doesn't help average Americans? I find this argument to be so interesting because you can't look at around any corner without economic data that disprove it. Now, the president was very clear when the tax Bill is being negotiated. He had two major objectives getting done one was delivering a middle class tax cut. The other was making the United States competitive, again, we had the highest corporate tax rate in the developed world, and we were trying to compete with countries that had cut their corporate tax rates so much that they were ten percentage points below where the American rate was not only that American companies repeat allies whenever they earn money overseas. And try to bring it back because one of the only countries where we force companies to pay taxes. His twice on those profits tax cut jobs that got rid of that it create a more competitive environment by lowering corporate tax rates at twenty one percent. And the result of that is what we hear about every month when we're talking about jobs numbers in the bureau labor certificates releases their report the first Friday of every month in twenty eight teen for the first time in ten years. The average American worker finally started to see a pay increase, and that's because when you reduce those barriers on corporate profits corporations and can take that money and invest it back into their companies as a means of making their workers more productive. When workers are more productive. They are allowed to demand more labor more value for their labor in air paid more. So that's why you're seeing wages rise now. And that's why you had not seen wages rise. Even though the economy has started to expand the beginning ten years ago. This was a very peculiar expansion in recovery. Because workers did not see their wages rise at all. Because we still had that corporate tax rate that created so much destruction to growth that workers can get their piece of the pie. And that's not the people who are benefiting the most the bottom ten percent of those workers. They are the ones who were seeing their wages rise faster than any other cohort who in not in economic picture their wages are rising faster than they have since two thousand almost a twenty year gap before we've seen that kind of rate of increase. So for the people who are coming on rising who are telling you that only the fat cats on Wall Street who are getting rich. They are not paying attention the economic data. They're not paying attention to the average American their story that's being told across this country, and they better wake up because they keeping knowing that what they're gonna do is. They're gonna fuel another another. I think embrace of Trump presidency. Whatever happened to real tax invocation. Why is it that the tax code is still over seventy thousand pages? Ted Cruz was campaigning on doing your taxes on postage card are posted whatever you call. It. A what do you send people with the postcard? Yes. Thank you, a postcard English. Not really my first language apparently on a postcard of Trump said simplification was going to happen. I understand that there's been some collapsing of rates, and such but the tax code as far as our standard is still tens of thousands of pages. Why can't we get a tax code? That's like two pages. Mattie or one right is it is still far too complex. There have been strides made in making it less complex on the individual side, easy that with now nine out of ten filers are taking the sand deduction because the tax job back double the deduction. So it made that the most lucrative tax break for individual owners to take it. The national taxpayer's union where I'm senior fellow they released the report every year that talks about tax complexity and. What the what the burden is that it puts on the economy, and that tax burden was decreased by about forty one million hours as a result of the tax cut in job that there's a lot of work to dine on the side of the corporate tax rate and the business side of things that's all remains far too complex get rid of some of the complexities that will shave off the costs that it takes to administrate the tax burden and for companies to comply, and that will win more money and more economic trend back to private enterprise, which of course, allows the United States become an say the most competitive Connie in the world. Yup. Ler you taxes like nobody else does taxes? Matty. The dubious distinction, but they having me on. I know you're super busy this woman. Skeleton, fifty TV and radio hates over the course of tax day because everyone else is like explain the taxes to be Mattie, Maddie. Thank you so much forward strategies. Everybody can follow him on Twitter as well.."