President Trump, Tax Credit, Twenty Four Thousand Dollars discussed on Matt Tompkins


Of an expert euro one of the people here in the white house working on the tax reform legislation that i'm told that you are wellinformed on the the issue as rosy that's that's the rumor out there we'll find out i guess well i know everybody's eager out there in radio land for this to move forward and and there are a lot of reports out there that are conflicting and that are causing some concern about the number of rackets and and whether some we are going to be paying higher taxes whether loopholes will be eliminated and all of that good stuff and there it seems to be and i think the president is set himself that there are some who are big money earners who may actually both through a variety of means end up paying higher taxes but the middle class is of course the most important thing and also expanding the number of people who pay no taxes at all and those are areas of concern for different groups appear of course yeah the middle class is looking for tax cuts i think people know higher income brackets are looking for a taxcut are they going to get one what about the middle class and what about expanding the number of people who pay no federal income taxes at all yes of the first thing i say is if you are listening to this broadcast he get yourself tax cut in fact the council economic advisers says is that what the president is proposing would probably put about four thousand dollars a year more in your pocket as a four thousand dollar pay race as a result of this plan now that's done through a is that an average there will be an average middleclass family out the okay that's middle class sure yeah yeah so and we do that through of variety of ways one you touched on we're going to double the standard deduction which means that the first twenty four thousand dollars of income that your family brings in is totally taxfree big big deal proposed twelve 12000 were correctly stress doubling that you're also going to see an expansion of the child tax credit which is a big deal for families as well we're going to get rid of all the loopholes that.

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