head january february and march some businesses have also had to stop reimbursing employees for commuting expenses because they too were no longer deductible these new laws are set to take us back to this year possibly changing the perks that businesses on earth to their employees and washington actually banks are seeking. time out for a quick break but hang here because when we return for which the c.e.o. of dro mark looks at the highest and lowest tax rates around the globe plus we have a special panel to discuss the new u.s. tax law and the current implications plus how it's my heart which tells us about a tiny u.s. tax provision that might impact life love and finances as it goes or we do go to break here's a quick question for you which of the following us states have no individual income tax the last the floor those of vital stuff that go to texas washington or wyoming which ones have no state in the visual text the answer right after a break will be that.

match geysers financial survival guide liquid to those that you can convert music that's quite easily. to keep in mind though as a team into a place. for. joining me every thursday on the elec simon short and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then. she actually mystically much if i do business in the system it's in the field industry in the one nine hundred ninety s. . i'm gonna take you now to night and what does that have to do to cheer.

up the shadows polish them up. like there is a chemical widely used kill we. lose this is why i believe the service light is the old baby girl because. they decided to take the brunt of. a possible temptation that they can occur to just scientists truth to context really. on the human race to servants to the world free of g.m. and chrysler state which will even be able to actually pass the points of never send.

welcome back the answer to our quiz question which of the following states have no income tax alaska florida that of the south dakota texas washington or wyoming the answer is actually all of the seven listed none of them have individual income taxes did you get it right it's sort of a trick question. and now we focus on tax rates around the world to lend us a hand we're joined by our friend the c.e.o. and founder of stroll mark world which hillary thanks for being with us first of all what are what's the best place to live from a tax perspective. around the world i think is an interesting question bart and good to be back again by the way i have a can be up for that actually which is you know tax rates might be low and they might seem to be low and broadcast to be low but when you actually live there or do something there you find that the government gets your taxes no matter how margaret thatcher used to say there's no such thing as a free lunch i've got to turn to bill examples i bought a bottle of champagne b.

before christmas in washington d.c. . and then coincidentally i happened to be in texas a few weeks later and took a bottle of piper heidsieck that i bought locally to a family seven dollars difference tex's a non-tax state but they sure got you on the sales tax also i lived in the netherlands the global headquarters of k.p. and she was based in amsterdam and of course the taxes there astronomically high in america is i'd never want to live in one of those high tax countries meanwhile no one's paying for their kids' college education when you're not paying for kids' college education and you're not paying for health care out of pocket that makes a lot of difference the government gives you a lot more in those countries so there is a lot to consider and there are a great many nuances to that quote it's a zero sum game unless the same wherever whenever we talk about gas prices in the us which states are the highest because of the state tax and then when you talk about international petrol prices you look at france and you know what it's actually this is dollars a gallon really for your leader or whatever and it is just because the taxes when

you do nothing to match up to the gallon zero let's go to which are your car via my caviar but we have already lowest individual tax rates. were the world where you want to if you want to just go and also that means that never go shopping but if you want to live in somewhere with a lowest income tax rates that would be cayman islands but as more i'm done with it so far union monaco monaco switzerland ok and what were the highest tax places for individuals stay away from sweden sweden is the highest in all of europe i think it is like nearly sixty percent but all of the scandinavia nor the. pretty high are very high they're all around the fifty percent mark yes and what about if your company is the same you would go to the caymans or. horses yes but mutable you to there's no corporate tax rate there's no corporate tax rate also you're right in the cayman islands you know it's really high it's chad the united states is sort of the third highest in terre haute chart is really high in corporate tax rate income

tax rate i guess they don't want people in they don't want companies but the united states is about third highest in corporate taxes i would say that on the on the high corporate tax rates you've got china and united states and countries like united are our of arab emirates and we there's been lots in the news the last several years about ireland being a low tax ninety percent much to the chagrin of a lot of e.u. companies are you in general in an apple x. they went there for the low tax rates is that changing a little bit now what it is because everybody's getting getting the idea that they've got to lower the tax rates and they lowering them in the u.k. obviously to compete also with ireland and they just made their decision they were not going to actually or amazon not going to actually build a big plant near the south or galway western ireland part of the tax treatment was part of their decision to they made hillary sword with no no i was that they've got and europe also don't forget they've actually penalize countries that do business

there like starbucks and don't pay the tax rate in those countries so there oftentimes is going to be a fine and attacks in like in the e.u. so you can't just avoid it they're on to it now thank you for giving us a global perspective hilary which brings you to absolutely not yes. oh. here to discuss taxes and the impact on not just companies but individuals and families is susan harley the deputy director of congress watch public citizen and steve moberg conservative t.v. and radio host thank you both for joining us susan let me go to you first we've had several months of the new tax bill being in effect and we saw a lot of companies that were going to give employees some raises and put some money into some pretty good things for individuals but recent reports of come out and said that what some of the but a sixty percent of the companies rather are doing is stock buybacks and dividends

now is that a bad thing a good thing what your take. public citizen feels that the benefit for the tax cuts should be going to families and hard working americans and as you just mentioned there been record amounts of stock buybacks meaning that companies are purchasing back their own shares and thus lining the pockets of their investors this is not the trickle down theory that we were taught to believe what happened as far as the tax changes would benefit and what what i'm good being is that these tech buybacks are happening and instead of investments happening as far as companies building more factories here in the united states they're again purchasing back their shares were mining the pockets of investors and in addition they're increasing investments overseas so we're going to increase this trend

moving forward unfortunately. yeah we did see that with the with harley davidson and which is one of the companies that both speaker ryan and the president touted as really benefiting in their closing a plant in kansas city and moving some of those jobs to york pennsylvania but also shifting some operations to highland but steve i also imagine that some might take it the other pretty the other side is that well these investors are americans they're investing and if they get a dividend maybe they'll go buy something that'll help other other folks will what so you well investors are shareholders i mean who have shares of all these companies who has for one k.'s i mean the stock market is roaring people's retirement accounts and other of not retirement accounts are soaring because of what these companies are doing but let's not forget company after company and you could go back and google all the companies that lined up after the tax cuts and

gave bonuses to their employees who came here and said they're going to invest in new plants. a new hirings and i got to tell you if things are so dire and these companies aren't hiring and then taking jobs overseas then why are we at record low unemployment what is sixty eight percent of the people polled by c.b.s. last week to give donald trump credit for the for the good economy and why do sixty seven percent. of seventeen year high people think now is a great time to find a quality job that's a twenty five percent increase in that number since trump was elected not to mention small business is that a ten year high when it comes to optimism so something's going right. but steve is there any evidence because the anecdotal stuff i agree was great i was really psyched about what companies said they were doing but the bloomberg report in a morgan stanley report that's not really hard evidence that the money is actually getting to average folks you know do you have it is there some out there. well

again there it is getting to average folks even through the stock buybacks and the increase in share prices and the increase in the success of the and the value of the stock that's going to average folks right off the bat as far as going to employ on i'm not and i'm not sure that i mean i want to help everybody but i'm not sure that you know investors and starker are actually all average but susan what do you what do you think i mean are there places where we can see some of the benefits of tax reform actually making it down to average families if you're talking about what average employees are seeing polls are coming back time and time again that folks are just not seeing these benefits in their paychecks and so if this was actually happening people would be saying and they would be happy they would be supporting that tax law but that's not where we are the majority of americans dislike this tax law partly i think that has to do with the fact that this is self dealing everyone knows that congress a lot of them actually make their income from l.c.s.

are passed through these types of companies that received a huge benefit as far as the tax cut donald trump himself has hundreds of these. people are seeing that this was obviously not focused on what their needs were it was on the needs of the rich and well c.e.o.'s if i might you know i go ahead larry that we haven't talked about the individual side of this we're talking to trading on business let's talk about the individual most people in this country do not itemize they take the standard deduction they're going to get a doubling of that standard deduction so right off the bat that benefits the average american family who the estimate is will sit well about two thousand more dollars in their pocket not paycheck to paycheck necessarily right off the bat but when they file their tax returns so as far as the polls that say people are dissatisfied that is absolutely true but i'd like to ask the question are you for

or. using that tax rates back to what they were do you want to tax increase if the democrats take over the congress and see what the answer to that poll question would be a big fat no we're going to we're going to have that we're going to have to unfortunately leave it there but a great discussion and we may have a chance to see what will happen next year on this i thank you both so much susan harley and steve malzberg we appreciate your time thank you thank you where. there's a new piece of tax law that could impact your personal life and marriage archies alex my hyla bitch brings us the latest from toronto. well as most of you know premiums have provisions in there which say how much somebody is going to have to pay alimony or spousal support when an marriage is done now this can be tossed right out the window let's say if

a prenup was actually signed under duress or sometimes even if it was signed too close to the wedding date it just might be null and void well now there's another factor that's coming into play here and that is the fact that this can be challenging under the new tax laws that trump is bringing in now starting in two thousand and nineteen payers of pre in the prenuptial agreements will no longer be able to deduct alimony payments so up to now they've been able to deduct these things and when you're fear in the highest tax bracket that could be a lot of money for example if you live in california or new york city you're almost paying fifty percent in taxes so that's again look if you're writing ten thousand dollars checks for alimony that could be looked at twenty thousand dollars because you cannot deduct these checks anymore or the amount that you're paying anymore which is a lot of money obviously now republican lawmaker said they eliminated the alimony deduction to end what they call a divorce subsidy under the old law but there is a bright side to this tax dollars that is going to be

a lot generated here we're talking about six point six point nine billion over the next decade and also if you had a divorce or separation that was finalized but before two thousand and eighteen while you're ok then you're going to be exempt from this completely starting next year though this kicks in and get this this is really an interesting provision here recipients who are getting the money are going to get it tax free up to now it's been a part of their taxable income so a little bit of that switch there now attorneys are saying that this might complicate things that even complicate made a bad marriage is in general just imagine having to say hey honey let's go redo that pre-nup we did a few years back there that's not a good thing for anybody and you know what even president trump knows that back in two thousand and six and he's talked to new york magazine and he. all the pre-nup are paid full ugly tool and if anybody knows anything about divorce and prenup well that would be president donald trump. that's it for this time thanks for catching our taxing show you can catch boom bust on you tube at youtube dot com flesh boom

bust party or on direct t.v. channel three twenty one will catch you next time. twenty five years ago companies go public as a way to expand their be a viable corporation you have to meet certain criteria to for being a viable corporation and then you're allowed to go public now there are no such criteria so if you're essentially burning through cash and going bankrupt or using the public marketplace to bail out a losing position. i don't. know.

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a good looking guy. was no. place for smoke grenades as clashes erupted another mass rally in paris against president across reforms our correspondent got caught up in a. just a plus i mean you can see just coming down covering this week you have to. because . it's pretty rapidly in the headlines tonight the leaders of north and south korea meet again to discuss the potential peace keeping the u.s. on board it's after pyongyang destroyed its only nuclear test site which. they've opened the window the blinds are up so probably means that we're really

really close. something fishy in the waters off seattle in west coast america where muscles have tested positive for opioids highlighting the scope of a national prescription drug crisis. there live from r.t. international studio h.q. in moscow is kevin i. take first the cross is present mccraw been talking up his people focused policies in recent days but in paris thousands of rallied against his reforms again. he was there as the protests became increasingly agitated but we've seen is the protest is some of them trying to smash some of the buildings along the street where they were marching the police came in straightaway we had some sort of fine works and what looked to be like. a moment of cocktail of course

it definitely was but there was certainly an explosion and then we saw the police then displacing tear gas and. if you just look now you might see the police are in the distance you've got some of what are known as being the black looks here in the front so they are covered with their faces that's because they don't want to be identified and you might be able to see that they are throwing items to wards the police and now we have had to guess i know this only one police officer i mean he was huge in clashes with those protesters the clashes also is throwing paint at the police oh i just look behind me to see a tear gas that's been spreading all over the place is they want to move the protesters away to try and stop the troops from gathering to stop the people who are throwing the police as you can see that take us now just coming down covering this we're going to have to move back because that just winds pretty rapidly and it

makes it incredibly difficult to trees. and also quite painful because it actually makes use. touches a. north korea known as one of the world's most reclusive country has opened up a bit in recent days two dozen journalists were invited to witness the state destroy its only nuclear test site in fact r.t. was there too as our reporter joined the marathon trek to the remote northeast. this is the restaurant's call and as you can see it's dinner time we have been promised a ten course banquet also we know that's the part of the journalist pool who from asian countries are dining in a separate cars with them and you these more traditional for them and i always was tailored more along to our tastes. this is where i will

be spending the next eleven hours or so my very own oriental express i guess so check out the room the first thing to notice about it is the windows the blinds are shot there is some sort of a seal and we're not allowed to even peek from them never mind filming the thing. is an air conditioner some beverages but really not much left to do but to go to bed. everybody so we just woke up puts sets in the morning but check this out i just want to show you something really quickly they've opened the window the blinds are up so we probably means that we're really really close. so we finally arrived this is the dog station we're being told a cylinder now we're up for a bus ride these are the buses that will take us through the next leg of our journey.

and. this is where the buses have taken us behind me is an entrance to one of the tunnels and in a few hours from now it won't exist anymore. right now we're walking to a different tunnel the people here are reassuring us saying that there have been no radiation leaks but many journalists may think that well it's better safe than sorry as you can see some a wearing respirator mosques and some crews have taken those to me tis with them to the strip which were though confiscated at the customs we were also handed out. these yellow safety helmets inside all tunnels more or less looked the same but this one is the newest one in hasn't been used at all but still as you can see like all others it is rigged for an explosion.

around this trip we have been made very clear that what we've been treated to industry of was a privilege not to many people here in north korea to experience it done of reporting from north korea for r.t. or your true now if you don't see pictures like that very often do you can keep across the gorse trek on going across korea by following his updates regularly on twitter meantime the leaders of north and south korea have met for the second time in less than a month since their first historic face to face talks the medicare in the saturday in the dead militarized zone separating the two countries south korea says the main focus was on the possible summit between north korea and the u.s. the korean leaders may be keeping things on track but president trump's mine's been changing out the window over the past week as you all know his positive overtones took a huge hit on fer's day when he abruptly pulled out of meeting kim jong un in june

but then the very next day trump hinted that all potentially could be back on again . see what happens. there very much want to be like this because i. just showed it to terminate the plan summit in singapore in june twelfth. regarded three zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero you know that better than anybody who knows what he's up to i'd suspect least of all donald trump knows what he's about i mean this is somebody who jumped into that meeting first of all quicker than a ferret supper drainpipe there is no policy behind it this is somebody who is into making headlines and appeasing the base and yesterday that needs to not go down well with his base supporters that he had pulled out of this meeting he'd always seen it as a chance to make peace on the korean peninsula which would be worlds breaking history and i think you saw yesterday he saw all about dissolving. a petition on

the british government website calling for a referendum want to buy the house of lords has now attracted over one hundred sixty thousand signatures that means parliament now has to debate calls to abolish the upper house in june it's made up of hereditary and party appointed p. is and it's now under fire from both sides of the commons with the government angry at the lord obstruction and the labor leader wanting an elected upper chamber. it's absurd that we still have this undemocratic and a career ism in the twenty first century and when labor is elected we will carry through that pledge fact jeremy corbyn says he's now only going to appoint labor pay is if they agree to basically vote themselves out of a job if it ever came down to a vote but reforming britain's on the elected upper chamber is an idea that gets floated every couple of years really there are those that say that the whole

institution is inherently democratic some see the lords as a med laying bunch where the last time they checked the average age is about sixty nine years old they get to claim expenses courtesy of the taxpayer of up to three hundred pounds a day and some say for not doing very much work but for the seven hundred years that it's been in existence the chamber of the house of lords has had its fashion era scandal sleep and silliness take a look. to look pretty you. might have been for the baroness margaret i believe claimed to be one of the only survivor i think of the source of the those who gave good service the mission offer my sincere apologies to pounce listed for my discourtesy in not being in my place to answer her question on a very important matter at the beginning of questions and solution not being in my

place and therefore i should be offering my resignation. what's interesting now is that the party in power ahead now the conservative party is also getting increasingly frustrated with the house of lords a hardline brags it is in particular because the lords keep rejecting he brags that legislation that the government has a wrist. lying to push through rather embarrassing to reason may's administration has suffered fifteen defeats in the house of lords over the past few weeks and whenever the lords rejects legislation that politicians in the commons are trying to push through there is always talk of a constitutional crisis because they say elected politicians are trying to enact the will of the people whereas the on the elected laws are blocking those efforts

on.