some would argue that well the wealthy are going to make all these profits and they will therefore buy a lot of shirts or buy a lot of gasoline and then the people that make the shirt for help get the ghastly they will ultimately trickle down to them how that how's that working out so far professor this is not work at all because it was never true it was just a rationalization invented by rich people so that they could continue to get a disproportionate amount of the wealth by telling us that if you do that it will trickle down to you because they will buy more the thing about rich people is they are already couldn't sue me more than most of the rest of us care like imagine and by giving even more money than them you're not going to get them to consume or you're going to get them to make a lavish investments in all the parts of the world you're going to get them to do it best in harebrained schemes of bitcoin or god knows what ever speculation that's what we've seen the tax cut the end of december for example gave more wealth

to big companies who are using it to distribute to their shareholders they're not hiring workers the way they promised they would they're not giving higher wages the way they promised those promises are made to get the money into their hands and then they're just as quickly forgot professor emeritus in economics at the university of massachusetts richard wall we're always smarter after you have joined us our thanks thank you very much glad to do it. some companies treat their employees to perks such as sports tickets other luxury items however after passing of a new tax law some corporations are having to cut back on their gifts or take it in the workers are to correspondent ashley banks with the latest new tax laws will soon be either a limit or eliminate al many capitals game tickets if your employer will provide in

the near future changes in the law eliminate deduction for sports tickets concerts other client entertainment and employee meals these changes were designed to help offset corporate tax cuts according to a survey done by wall street journal including eight hundred sixty five firms forty five percent of those firms say they will be affected by the new tax laws forcing them to cut spending or make adjustments which will impact their employees big corporations will not feel the impact as much the cut in the corporate tax rate of twenty one percent lower the deductions value and as for small businesses their tax higher between twenty nine percent and thirty seven percent small firms also operate with thinner margins and are usually more sensitive to tax rate changes some businesses have annual client appreciation day at sporting stadiums however they may have to cancel this year due to the tax loss because under williams chief

executive of a tech consulting incorporated says quote we have season rams tickets the invoice is sitting on my desk do we do this or do we not what is our return on investment joseph hines c.e.o. of voice and data networks incorporated says he had to sell off the company's extra seats because most of the company's owners could no longer deduct the expense as a result some teams are exploring options as to how they can help companies claim deductions tony not c.e.o. . of ticket manager incorporated which manages and track sports tickets for businesses says usually when we hear teams talk about an increase in non renewables winning teams and big markets are immune we're getting calls from teams that are winning that have huge fan bases saying we're losing customers because of the deduction sports teams aren't the only ones taking a head restaurant and catering businesses are suffering as well so much so

businesses are cutting back on and plea dinners and events the owner of do parr and company says we had an absolutely dead 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 aren't seen. coming up for a quick break but hang here because when we return henry ford which the c.e.o. of droll 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 alex my pilotage 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 florida of the bottom up to go to texas washington or wyoming

which ones have no stake in the visual tax the answer right after a break will be that. the accounting firms the the banks. rating agencies the government and the central bank it's called a racket the u.k. profits from it and some late that's how the aristocracy keeps going and that's not going to stop.

welcome back the answer to our quiz question which of the following states have no income tax alaska florida nevada 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 the rift word which hillary thanks for being with us first of all what are what's the best place to live from a tax perspective well around the world i think is an interesting question and good to be back again by the way i have a county up for that actually which is you know tax rates might be low and they might seem to be low and brokaw's to be low but when you actually live there or do

something that you find that the government gets or taxes no matter how margaret thatcher used to say there's no such thing as a free lunch i've got to tangible examples i bought a bottle of champagne before christmas emotion in 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 of the global headquarters a k p m g was based in amsterdam and of course the taxes there astronomically high. and americans 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 credit it's a zero sum game unless the same wherever whenever we talk about gas prices in the u.s. which states are the highest because of the state tax and then when you talk about

international petrol prices you look at france and it's you know what it's actually dollars a gallon really for your leader or whatever and it is just because of taxes but when you go into math after the galaxy out let's go to which are your car via my caviar which are the lowest individual tax rates in the planet where you will where you want to live if you want to just go and also that means that never go shopping never if you want to live in somewhere with a lowest income tax rates that would be cayman islands but as more if i'm done with it so far you know in monaco monaco switzerland ok and what were the highest tax places for individual say we're from sweden sweden is the highest in all of europe i think it is like nearly sixty percent but all of the scandinavian nordic 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 unit 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 tear chad 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 there are of arab emirates and we there's been lots in the news the last several years about ireland being a low tax nine percent much to the sugar. and of a lot of companies that you in general and an apple except they went there for the low tax rates is that changing a little bit now what it is because everybody is getting getting the idea that they've got you know the tax base and they lowing them in the u.k. obviously to compete also with holland and they just apple has made that decision they were not going to actually it was apple or amazon not going to actually build a big plant near south a galway western ireland and part of the tax treatment was part of that decision

that they made hillary sort of wait until good no no i was that they thought that in europe also don't forget they got penalized countries that do business there like starbucks and don't pay the tax rate in those countries so that 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 your time to do i think not yet. oh. here's your discuss the taxes and the impact on not just companies but individuals and families as susan the harley the deputy director of congress watch a public citizen and steve most bird 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 would happen as far as the tax changes would benefit and what what and it being is that these tech these 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 we're 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 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 so 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 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 companies aren't hiring and 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 of people think now is a great time to find a good 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 to money is actually getting to average folks you know do you have it is there some out there. well again i mean there it is getting to average folks even through the stock buybacks and the increase in share prices in 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 the has to do with the fact that this is self dealing everyone knows that congress a lot of them actually make their income from alice. these 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 alcee so people are seeing that this was obviously not focused on what they're doing it's where it was on the needs of the red and well c.e.o.'s if i had my eye go ahead larry that we haven't talked about the individual side of this we're taught the concept 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 say 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 raising 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 to 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 mauls we appreciate your time thank you for thank you where. there's a new piece of texas law that could impact your personal life and marriage are she's eligible hyla vich 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 marriage is done and 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 tox 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 your fear in the highest tax bracket that could be a lot of bunny 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 any more of them out that you're paying anymore which is a lot of money obviously now republican lawmakers 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 four 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 brought 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 talk to new york magazine and he. all the pre-nup are painful 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 youtube youtube dot com slash boom bust archie or on direct t.v. channel three twenty one will catch you next time. but a lot of well set up you'll see. this. one. right the up with us and let me just. cut up.

belgium escapes another two thousand and eighteen world cup upset coming back from two goals down to win their last sixteen clashes against japan the three two making their fans go. brazil is also through to the next round of the knockout stage after defeating mexico two nil a win that set off some celebrations from some to sell paolo they will meet belgium in the quarterfinals. and in other news this hour the three month old coalition government german chancellor angela merkel of boyd's collapse after the interior minister reiterated his threats to quit over immigration policy. broadcasting

live direct from our studios in moscow this is our team international i'm sean thomas certainly glad to have you with us. all right another day on the knockout stage of the two thousand and eighteen world cup has been completed in brazil and belgium now proceed to the quarter final sending mexico and japan packing here's more analysis and commentary on the tournaments the latest results. not using guy you just played in is that an amazing second five goals to enjoy the. load in the end it was. strong but i do really just i have to say japan in my school was in the upset of the tournament it would

have been having gone to i mean you could you said there was going to be an upset and he did look like he was going to be that way belgium ranked third in the world japan a sixty sixty one. as it was before the tournament brilliant goals as well as you said all the action coming in the second top we did think we were going to go to extra time the last kick of the game cruel on japan but brilliance i'm sure we thought was going to go to actually time to be fair what with fifteen twenty minutes to go i thought japan russia canada were going to win it yet the way they were playing i think you can start looking at the goals the first one that came just after the restart a great strike it was to. be here through on goal and planting it in the bottom corner great to. see that stuff there the way you went around the defense leaving t.v. court in go with absolutely no chance there was a break on it was a mistake by yonder tongan in defense actually that led to that break by japan and at that point that was three minutes into the second half you think in japan take it away and they didn't two minutes later as well in any way the great strike you

see this one just from the edge of the box round we could think of the time the belgium defense they're just holding back not going to the ball whatsoever taking full advantage of the fantastic strike to make it so you know that point i thought belgium looked completely rattled they did as well and in defense particularly what we've seen on the wings what japan were doing there exploiting their ability to play great tactical football great technical football as well i kept it on the deck they were great you saw that the belgium defense were squeezed into the center because they were keen to take out the center forward but they left those spaces on the wing so when those balls were coming in yeah vincent kompany coming back from injury and you're looking me thinking belgium here third in the world they're looking rattled sure but for all the criticism roberta martinez the belgian manager so you keep played a blinder here because he changed things around didn't he with a couple of substitution actually the double substitutions and it was the big men that were coming on as well marilyn for any coming on and that's a charlie coming on and they start to have an immediate effect you can start looking at their goals then when effectively belgium started to pull it back. you

don't have to say a freak goal he's trying to plant this back across the launching top on it but you can't. back in the game and from that point it was now an aerial bombardment wasn't it from belgium they recognize that they have a place i don't think so why not just throw the ball in and get your head on it and that's exactly what they did i think pretty much for the next twenty minutes or so after that and they got their dividends to do they did and they didn't just get that gold any in exactly the same way you'd had a flurry of japanese goals that were technical goals in the same way as you said the big men had come on from belgium and within just a few minutes i think five minutes they got there they got their equaliser and again if you can look at that goal as well again another of those big men as well the ball comes into the ball really where even as our fantastic way to play and he was a sub we don't just have said you just come on fantastic the equalising goal and then you meant it would turn well to be fair to pan so you thought well we can win this

we can see it when they tried and they had several chances right at the end they had a great free kick with ok so you can honestly it went to a corner at that point people caught it and this is the final goal because people caught it and then threw the ball and i was a quick and it was it was a break that went all the way through and you're thinking i think at that point there might have been a bit of a switch off because they thought they were going to extra time it was the fourth minute of time i did on which is literally the last kick of the game as you say and then it was nasa chartley he went through when he had the final tap in didn't he because the ball that you know i mean it had been left by the car and he tapped into with him at that point you overcommitted i thought that over committed for that corner perhaps it was just a shame the rest of us was going to go any second yeah but it was just fifteen seconds left enough time for it to cross it is to roll the ball out and then to break away and challenge to get a winner and amazing going to watch watching it he was illiterate he was at the game lucky man he was in rostov after the beginning of the second half it seemed

that the belgian dads were destroyed because it looked as if their team were still going to leave the world cup but just take a look at what these guys are going through. right now. the. the. right size can you tell me. how did you how was it possible that your team made such a great comeback oh it was little because we have the best plays in the jungles we have you got to the line and i don't we have charlie that's easy what do they offer they have nothing to neymar is going to do nothing because through to him now today we are belgium was going on the. rules. ok maybe i had of let's say the argentina france game

people thought that it was going to be that close but before this belgian japan encounter what a surprise this was and i can tell you that when these guys come back home they will be sharing so many stories and they will tell that and raise it and stand out . by the way this is the team that they are taking in our us in the choir funds five so going back to what i was saying when these guys come back home they will tell the folks that stayed back that it was absolutely amazing and you guys should have been here and rostov the the yellow the car but there is a loser there is always in this particular instance i went as high as you can imagine belgium sounds went absolutely crazy i.

rushed into russia let's be honest i'd be really excited rush to get that phone. oh i sure as well i mean you know i sure was if you can be found when you look at the lineup coming through in those groups i might have thought people defend croatia would get through but to get to this particular stage and as you said against russia it's not perfect although perhaps on the left hand side of the draw that's become more predictable although you have got bigger names in that. so you surprised by that but she still got another shock when i speak to dish a good game simple. idea if the favorite once for the world. to be do you need to be hundred percent even in one hundred twenty percent of your capacity mentally physically. it's already defining for this thing for everybody in the team. from two zero down two or three two it's

a beautiful moment for the country we need to work. we need to. rest we're screwed for the next game because we're going to be tough we are still. looking for. everybody and it's important because it does not mean one is coaching you know if it's an approach you know someone of small to be a good father so what a cracking quarter final install brazil against belgium though i'd also in what way can considering all the shocks that we've had to be completely defying of all the predictions on the odds on the bookies as well and how the bookmakers and thought about that when you look at that particular line up for that particular much that's one that could have been predicted is a really good yeah as far as you can predict things are ok so that means anyway that they. had a good game we can show you the highlights right now. i.

i i. i . was. was. was. is going to be tough. but i think we control defense and we are really strong and. the quality of our players they made a difference so we were really happy with the game which of we have to be proud of the things we did well we had a great game against germany with korea we dominated the ball all the time today was difficult but we have to learn from our experiences and you can't always get what you want but if you try sometimes.