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getting rid of the state and local tax deduction for people live in a high tax states like california new york what's the matter liberals are upset i thought they love taxes how come they don't want to tax increase every liberal ever meet loves taxes they think it's great for the other guy so when donald trump calls their bluff and he says if you live in new york or new jersey or connecticut or california or maryland a high tax state illinois we're going to get rid of your state local tax deduction liberal. freak out and they scream bloody murder i thought they think high taxes are great for america why isn't it great for them this is nothing to do with the mortgage deduction no the mortgage deduction and charitable deduction will both remain there's no debate about that such another based robin what do you make of the attack on so-called sanctuary cities. i understand that i live here in atlanta georgia it's technically a sanctuary city and mayor kasim reed just said that the police department here he's proposing will not cooperate with ice so i understand the problem and i know that that's g
getting rid of the state and local tax deduction for people live in a high tax states like california new york what's the matter liberals are upset i thought they love taxes how come they don't want to tax increase every liberal ever meet loves taxes they think it's great for the other guy so when donald trump calls their bluff and he says if you live in new york or new jersey or connecticut or california or maryland a high tax state illinois we're going to get rid of your state local tax...
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Oct 2, 2017
10/17
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WTTG
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new york. >> california, new york, massachusetts but mostly san francisco, new york city, boston. so how do we spread that? we look deeper over 90% went to men, less than 10% to women. soledad: that is interesting because the stats around it show that people of color are entrepreneurial and women are entrepreneurial and you have to connect those two things. you are on a tour called rise of the rest. keufrbg off stills you are going to. >> we have been doing it 3 1/2 years, detroit, pittsburgh, albuquerque, phoenix, madison, minneapolis. trying to unders is there. 26 cities. next we can we will be in york pennsylvania. lancaster, harrisburg, that area. ann arbor, columbus. soledad: >> start-ups are alive but more people need to pay attention to support them and be customers and invest in them and more venture on the coast needs to invest in them because it is great. the valuations are lower and it is a great way to give them a sense that the future can be good for their communities and jobs will be created. they won't be left lined by artificial intelligence or robotics. we can't j
new york. >> california, new york, massachusetts but mostly san francisco, new york city, boston. so how do we spread that? we look deeper over 90% went to men, less than 10% to women. soledad: that is interesting because the stats around it show that people of color are entrepreneurial and women are entrepreneurial and you have to connect those two things. you are on a tour called rise of the rest. keufrbg off stills you are going to. >> we have been doing it 3 1/2 years, detroit,...
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as it relates to new york, i'm sympathetic to the issues in new york. i have paid taxes in new york and california, which are two of the highest taxed states. and, you know, if we eliminate the subsidies to new york and california, that creates certain issues. but, i don't think it's fair that a bunch of other states are subsidizing new york and california. and, you know, that will be an issue for me as well as i pay taxes there. >> so if taxes go up on middle class new yorkers, so be it, middle class californians. >> no, that's not what i said. we're trying to create certain adjustments so the middle class in new york and california don't get hit hard by this. but there are issues, as you have said, when we change a system. where we eliminate the tax subsidy of certain states that will impact different people in different states. we're working through the details of that. that's why, we haven't released the full plan. we're working with the committees. we want the committees to understand this. and we're very focused on middle income tax relief. >> you can't guarantee that all middle class indivi
as it relates to new york, i'm sympathetic to the issues in new york. i have paid taxes in new york and california, which are two of the highest taxed states. and, you know, if we eliminate the subsidies to new york and california, that creates certain issues. but, i don't think it's fair that a bunch of other states are subsidizing new york and california. and, you know, that will be an issue for me as well as i pay taxes there. >> so if taxes go up on middle class new yorkers, so be it,...
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Oct 12, 2017
10/17
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KTVU
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republican lawmakers from high tax states like california, new york, new jersey and illinois as well as labor unions and business groups are pressing the administration to reconsider plans to get rid of that deduction. they are worried there will be a financial pinch for their constituents. >>> several bay area sports teams announced a joint donation yesterday of $450,000 to help fire victims. the donation is from the oakland raiders, the oakland a's, san francisco 49ers, the san francisco giants, the golden state warriors and the san jose sharks. in addition to the base donation, teens are asking fans to get to the bay area unite campaign to benefit the american red cross. >>> the wildfires in the north bay are still burning and getting bigger. the biggest concern today, the possibility of strong winds. >>> good morning. traffic is still doing pretty well around the bay area. if you are driving on the bay bridge into san francisco, we will tell you more about the commute coming up. >>> the wind is picking up. is not out-of-control. we are getting gusts between 25 and 30. we will loo
republican lawmakers from high tax states like california, new york, new jersey and illinois as well as labor unions and business groups are pressing the administration to reconsider plans to get rid of that deduction. they are worried there will be a financial pinch for their constituents. >>> several bay area sports teams announced a joint donation yesterday of $450,000 to help fire victims. the donation is from the oakland raiders, the oakland a's, san francisco 49ers, the san...
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Oct 16, 2017
10/17
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CSPAN
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groups that are from california, new york, new jersey, that are opposed. you have realtors who don't like the proposed increase in the standard induction because they worry it would chip away at the mortgage reduction, affecting buying a house. technology companies are concerned about this money. how do you repatriate the money overseas? charities are worried about what changes would do to giving. bankers, the banking association interested, how do you cap delay the deductibility -- calculate the deductibility of interest deck of -- o interest? the republican plan without a $4000 tax reduction for charitable giving. that's an illustration of how if we're worried about lobbyists, are those lobbyists or people representing vital interests of charitable organizations? i think it's a little more complicated than just a black and white issue. host: pennsylvania, good morning. i have part of the answer to what we do if we are offended by lobbyists and congress people going over the line and closely ng too together in the interest of in some interest or another,
groups that are from california, new york, new jersey, that are opposed. you have realtors who don't like the proposed increase in the standard induction because they worry it would chip away at the mortgage reduction, affecting buying a house. technology companies are concerned about this money. how do you repatriate the money overseas? charities are worried about what changes would do to giving. bankers, the banking association interested, how do you cap delay the deductibility -- calculate...
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Oct 16, 2017
10/17
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CSPAN2
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an issue of state and local tax deductions where you have group frocks california, new york, new jersey, high tax areas opposed to that. you have the issue of realtors who don't like the increase -- the proposed increase in the standard deduction because they worry that would chip away at the mortgage deduction and make buying a house something that is important you have the tech nothing companies that are concerned about the money overseas, the issue of how do you repatriate the money. they have other a lot of money offshore, tech companies. charities worried about what changes could would do to charitable giving. you have bankers, the banker association interested in how do you treat the deductibility of interest. there are all kinds of issues. those are just some of the big ones. all sorts of provisions of the tax code that all kinds of attention that have big effects on the a lot of different businesses. >> here a "washington times" story related to that part of the. republican plan would add a $4,000 tax deduct for charitable giving, look to prop up donations amid complaints from c
an issue of state and local tax deductions where you have group frocks california, new york, new jersey, high tax areas opposed to that. you have the issue of realtors who don't like the increase -- the proposed increase in the standard deduction because they worry that would chip away at the mortgage deduction and make buying a house something that is important you have the tech nothing companies that are concerned about the money overseas, the issue of how do you repatriate the money. they...
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Oct 14, 2017
10/17
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KQED
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in the face of opposition from high tech states like california, new york, and new jersey, house republicans are proposing to eliminate state and local tax deductions for the top earners that allow the middle class to keep them. the new battle is to where to draw that income line. the median income in america right now is around $59,000 a year. of course $59,000 goes a lot further in illinois and minnesota than it does in new york or massachusetts. representative peter king of new york says the cutoff should be $400,000 a year, saying that's what counts as middle class in his high cost district of long island. according to census data, the median income in new york is $61,000. in massachusetts it's $74,000. and in illinois, it's 57. iowa, it's 52. an analysis from the pew research center finds the upper bound of middle class various even more widely. being middle class in new york state stops at around $112,000. in california it's 120. in mississippi, the upper bound is $75,000. alabama, it's 85. all of this matters because the higher they raise the income threshold, the less revenue they ge
in the face of opposition from high tech states like california, new york, and new jersey, house republicans are proposing to eliminate state and local tax deductions for the top earners that allow the middle class to keep them. the new battle is to where to draw that income line. the median income in america right now is around $59,000 a year. of course $59,000 goes a lot further in illinois and minnesota than it does in new york or massachusetts. representative peter king of new york says the...
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Oct 25, 2017
10/17
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BLOOMBERG
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i worry about california and new york. new york has had three quarters of a million of -- three quarters of a million people move out to places like texas where they do not have any taxes. if the tax reform is successful and you can deduct state and local income taxes, loss of bodies from california, new york , connecticut, massachusetts will accelerate. when you were asking me earlier about things to talk about, disruption in real estate is something i spend a lot of time on. cooper,ere is airbnb or going tohere changes change the value of real estate? hotels used to make a lot of money in telecom. we would charge you $35 if you were so dumb as to pick up the phone and call home from the phone. then you got a cell phone and the income stream went to zero. forma isssing our pro on parking because nobody is parking a car. the cities have all this legislation, like i had in miami, we had to build 400 parking spaces. they have been empty 100% of the time. even if the hotel was 100% occupied, the garage was not full. what do y
i worry about california and new york. new york has had three quarters of a million of -- three quarters of a million people move out to places like texas where they do not have any taxes. if the tax reform is successful and you can deduct state and local income taxes, loss of bodies from california, new york , connecticut, massachusetts will accelerate. when you were asking me earlier about things to talk about, disruption in real estate is something i spend a lot of time on. cooper,ere is...
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the poison pill for some republicans in california new york and new jersey blue states is that the elimination of the deduction of state local taxes that's going to hurt their middle class constituents so that's going to be a key sticking point i just hope they get their act together and pass tax reform or the congress will look a lot different a year from now you got a good point there thank you very much preamp a conservative t.v. and radio house steve malzberg thank you very much. on tuesday for exit talks were delayed at the behest of the remaining members of the european union. is here with me and update on that for us bianca a lot of drama there why this delay so members of the e.u. want to delay the talks because they say they're simply hasn't been enough progress made at this point to keep moving forward just last week the president of the european commission said americal would have to happen for brock's it talks to proceed and that short amount of time since no miracles have occurred and the negotiations process has officially been delayed on tuesday members of the european parliamen
the poison pill for some republicans in california new york and new jersey blue states is that the elimination of the deduction of state local taxes that's going to hurt their middle class constituents so that's going to be a key sticking point i just hope they get their act together and pass tax reform or the congress will look a lot different a year from now you got a good point there thank you very much preamp a conservative t.v. and radio house steve malzberg thank you very much. on tuesday...
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the high income states like new york, new jersey, california, they are going to get hit on this. peter king says he's not voting yes on this plan if it includes the elimination of the state and local income tax deduction. >> i live in both california and new york, so i couldn't be in two more inefficient tax states than that, and i fully support them eliminating this deduction it's a subsidy low-tax states are paying for high-tax states. even if congressman ding doesn't like it. it's very passable. what people are not talking about is the amt, alternative minimum tax. you bring in reduced rates. nobody knows enough to know if it results in a net higher tax burden for anybody. maria: do you think we'll get another broke the, like a millionaires tax. most of people are 12, 25, 35. >> they may dangle the idea of a $5 million threshold. an even higher rate. the way they teed it up it looks like president trump has it out there and will let congress say no to it. maria: how do you invest right now. >> within the u.s. we really want to be selective. for a person who wants to go and bit
the high income states like new york, new jersey, california, they are going to get hit on this. peter king says he's not voting yes on this plan if it includes the elimination of the state and local income tax deduction. >> i live in both california and new york, so i couldn't be in two more inefficient tax states than that, and i fully support them eliminating this deduction it's a subsidy low-tax states are paying for high-tax states. even if congressman ding doesn't like it. it's very...
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Oct 16, 2017
10/17
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FBC
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as i said, i've lived in california, new york and i know the impact on both of those economies and we are trying to balance on one hand we firmly believe that the federal government should get out of the business of supporting and subsidizing the state and local deduction. on the other hand, we are sensitive to those economies and working with the house and senate on those issues. lauren: back from the weeklong recess they must have a budget to tackle the nation's tax code. by october. british police with three new allegations of sexual assault against harvey weinstein. investigators say woman reported being assaulted in london in 2010, 2011 and 2015. british actress lisette anthony also reported to london police that he raped her in the late 1980s. the motion picture arts and sciences has been revoked over the weekend. lauren: woody allen saying this with the bbc. you also don't want it to lead to a witchhunt atmosphere where every guy in an office who winked at a woman is suddenly having to call a lawyer to defend himself. weinstein reportedly plans to challenge is by the weinstein
as i said, i've lived in california, new york and i know the impact on both of those economies and we are trying to balance on one hand we firmly believe that the federal government should get out of the business of supporting and subsidizing the state and local deduction. on the other hand, we are sensitive to those economies and working with the house and senate on those issues. lauren: back from the weeklong recess they must have a budget to tackle the nation's tax code. by october. british...
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a lot of them live in new york, california, places like that but it's a mistake to subsidize state spendinge states like new york and california, which spend enormous amount of money, get subsidized by federal government get encouraged to spend more, if you don't spend more you basically get taxed -- trish: honestly bizarre anyone agreed in the first place. >> it is bad economic policy. trish: if you pay federal taxes you should pay federal taxes. if you pay state taxes, pay state taxes. the idea you get to write off some of your federal tax bill because your state can't manage its money well, it encourages that state, scott, to be irresponsible what it does with its money because it keeps coming in. >> it does. and you know, it costs the state business in the end. you guys mentioned ge there. illinois is starting to lose businesses to wisconsin. look at foxconn deal. you think it is any coincidence that they're about 30 miles north of the border in wisconsin versus in illinois with the deal that got done there? >> no. because companies don't want to come to the states that are high burdens
a lot of them live in new york, california, places like that but it's a mistake to subsidize state spendinge states like new york and california, which spend enormous amount of money, get subsidized by federal government get encouraged to spend more, if you don't spend more you basically get taxed -- trish: honestly bizarre anyone agreed in the first place. >> it is bad economic policy. trish: if you pay federal taxes you should pay federal taxes. if you pay state taxes, pay state taxes....
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where these future proceedings can be heard a number of state attorney generals notably from california new york released a letter challenging the premises laid forth by the white house in their attempt to remove the rule what's their core argument. attorneys general from at least nine states that happen to sit on or near federally regulated bodies of water have introduced this letter opposing the proposed rollback of the clean water act by the environmental protection agency as well as the us army corps of engineers now they plan to repeal the clean water act of twenty fifteen and replace it with the previous rules that were implemented in one nine hundred seventy seven the attorney generals here are arguing that rolling back these new rules and implementing the old rules is going to put their state's water at risk and also result in economic disadvantage for their state because it would allow competing states to roll back pollution controls. regina in that same letter they raise conflict of interest issues when it comes to the e.p.a. scott pruitt what is that conflict of interest and what does
where these future proceedings can be heard a number of state attorney generals notably from california new york released a letter challenging the premises laid forth by the white house in their attempt to remove the rule what's their core argument. attorneys general from at least nine states that happen to sit on or near federally regulated bodies of water have introduced this letter opposing the proposed rollback of the clean water act by the environmental protection agency as well as the us...
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Oct 1, 2017
10/17
by
WUSA
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in suburban, fairly well off districts republicans throughout the states like new york, california, illinois, new jersey, those people even with the standard deduction will pay a lot more. >> dickerson: but why should - should --er. >> -- it should be real test of their congress people who vote with their constituents or they vote with the hard right ideology against state and local deductibility. >> dickerson: argument is why should alabama subsidize new york. but it sounds like you're bakesly out now to stop this bill not to shape we'd like them to really say to the deficit neutral instead of using these fake numbers that say, there will be huge growth. they tried that in can california that's charles koch's state this was the great experiment. they dramatically cut taxes said there's going to be growth and increase in the surplus. well, after they did it, they predicted the surplus wag up 300 million it went down. the deficit went down 700 million. they had to cut money for schools and infrastructure then they had to put in -- did kansas grow? no. last year its growth was .2% verse u.s. g
in suburban, fairly well off districts republicans throughout the states like new york, california, illinois, new jersey, those people even with the standard deduction will pay a lot more. >> dickerson: but why should - should --er. >> -- it should be real test of their congress people who vote with their constituents or they vote with the hard right ideology against state and local deductibility. >> dickerson: argument is why should alabama subsidize new york. but it sounds...
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Oct 12, 2017
10/17
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BLOOMBERG
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house speaker paul ryan is lashing out at states like california, new york and new jersey, saying theal deduction for state and local taxes forces states that have their act together to pay for states that don't. speaking on capitol hill, ryan defended the new tax pros old to eliminate the popular state local taxed adduction. that's adduction is claimed by around 44 million people and cost the government an estimated $1.3 trillion in lost revenue over 10 years. president trump is praising the pakistani government for its help in freeing an american couple held by a group linked to the taliban. the couple were abducted five years ago while traveling in afghanistan. the couple had three children while in captivity. u.s. officials say all have been freed. >> the pakistani government's cooperation is a sign that it is honoring america educate wish -- america's wish that it do more to provide security in the region. i want to thank the pakistani government. mark: the family was being held by the hakani network. the u.s. government called the organization a terrorist organization and have t
house speaker paul ryan is lashing out at states like california, new york and new jersey, saying theal deduction for state and local taxes forces states that have their act together to pay for states that don't. speaking on capitol hill, ryan defended the new tax pros old to eliminate the popular state local taxed adduction. that's adduction is claimed by around 44 million people and cost the government an estimated $1.3 trillion in lost revenue over 10 years. president trump is praising the...
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reform and we've talked about the problems we talked about how republicans from states like california new york where property taxes very very high their constituents would lose the right along with everybody else in the country to deduct their property tax and state local taxes. from their income taxes now it seems like they're backing off that so we still haven't seen a five final finished product and we don't know what it's going to contain we had a lot of trial balloons over the past few weeks but we don't know when push comes to shove what exactly is going to be in there and let's talk about one of the problems you pointed out senator rand paul from kentucky the final vote fifty one forty nine he contributed to that he's a deficit hawk. what do you what do you think about him and the problems he may pose for the party with tax reform yeah well you know it's again it's not just him . john mccain was happy with this budget but that doesn't mean that john mccain is going to vote for tax reform he might still love to stick it to donald trump and i don't put that past him susan collins might fi
reform and we've talked about the problems we talked about how republicans from states like california new york where property taxes very very high their constituents would lose the right along with everybody else in the country to deduct their property tax and state local taxes. from their income taxes now it seems like they're backing off that so we still haven't seen a five final finished product and we don't know what it's going to contain we had a lot of trial balloons over the past few...
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Oct 15, 2017
10/17
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FOXNEWSW
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as i said i've lived in california, new york and i know the impact on both those economies and we'rebalance on the one hand we firmly believe that the federal government should get out of the business of supporting and subsidizing the state and local deductions. on the other hand, we are sensitive to those economies and we're working with the house and senate on this issue. >> maria: i guess on one hand, if you have a deduction and you're able to deduct your state and local taxes, it sort of gives the governor of that state or the mayors in that city free wheeling to just raise taxes or leave taxes wherever they want. >> secretary: that's true maria and i know that people in new york and california will say that they send more money to the federal government that they get back but that's because more rich people live in both those states and the way the tax system works, i think you know. the top 10% pay 80% of the taxes in this country. >> maria: yes, i do know that and i've been saying that a lot which brings me to the conversation of aren't some people in this country going to pay
as i said i've lived in california, new york and i know the impact on both those economies and we'rebalance on the one hand we firmly believe that the federal government should get out of the business of supporting and subsidizing the state and local deductions. on the other hand, we are sensitive to those economies and we're working with the house and senate on this issue. >> maria: i guess on one hand, if you have a deduction and you're able to deduct your state and local taxes, it sort...
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where these future proceedings can be heard a number of state attorney generals notably from california new york released a letter challenging the premises laid forth by the white house in their attempt to remove the rule what's their core argument. attorneys general from at least nine states that happen to sit on or near federally regulated bodies of water have introduced this letter opposing the proposed rollback of the clean water act by the environmental protection agency as well as the us army corps of engineers now they plan to repeal the clean water act of twenty fifteen and replace it with the previous rules that were implemented in one thousand nine hundred seventy seven the attorney generals here are arguing that rolling back these new rules and implementing the old rules is going to put their state's water at risk and also result in economic disadvantage for their state because it would allow competing states to roll back pollution controls. regina in that same letter they raise conflict of interest issues when it comes to the e.p.a.'s scott pruitt what is that conflict of interest an
where these future proceedings can be heard a number of state attorney generals notably from california new york released a letter challenging the premises laid forth by the white house in their attempt to remove the rule what's their core argument. attorneys general from at least nine states that happen to sit on or near federally regulated bodies of water have introduced this letter opposing the proposed rollback of the clean water act by the environmental protection agency as well as the us...
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speaker ryan though, he's not sure whether or not the gop will scrap those deductions, california, new york, new jersey , illinois, and texas are your top five recipients of course four major blue states here to discuss with me now jeff dewitt, a member of donald j. trump president advisory board and former trump campaign chief operating officer, and a hill contributor. beverly let me start with you because peter king of new york making it pretty clear that the republicans are going to have trouble trying to eliminate state and local deductions and places like new york and they're going to really jeopardize people like him keeping office. that was not always a red seat that peter king has. >> i'm originally from california so i understand what it's like to live in a blue state and i would say as republicans are looking at this, this is the good news. the good news is they don't have a bill out yet. the good news is they're working on compromises behind the scenes before they actually count the votes, so i would say you're going to see some movement in this that the chairman of the house way
speaker ryan though, he's not sure whether or not the gop will scrap those deductions, california, new york, new jersey , illinois, and texas are your top five recipients of course four major blue states here to discuss with me now jeff dewitt, a member of donald j. trump president advisory board and former trump campaign chief operating officer, and a hill contributor. beverly let me start with you because peter king of new york making it pretty clear that the republicans are going to have...
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Oct 1, 2017
10/17
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MSNBCW
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it hurts states like california, new york, new jersey, where there are a number of moderate republicans running for their life next november. i don't believe they're going to be able to vote for this monstrosity of a tax plan. >> all right, thank you so much for your time. good tasee yo see you. >> thank you. >>> the talking to at the american air force academy that made many americans proud this week. hi. so i just got off the phone with our allstate agent, and i know that we have accident forgiveness. so the incredibly minor accident that i had tonight... four weeks without the car. okay, yep. good night. with accident forgiveness, your rates won't go up just because of an accident. switching to allstate is worth it. >> experiences that i had here i wouldn't trade for anything because then i wouldn't be who i am. >>> speaking out about growing up in queens, new york. makes the 20 list of achievers in honor of hispanic heritage month. >> i was accepted by a group of kids that made me feel like somebody when i was told i was nobody. you watch television and then we were totally absent a
it hurts states like california, new york, new jersey, where there are a number of moderate republicans running for their life next november. i don't believe they're going to be able to vote for this monstrosity of a tax plan. >> all right, thank you so much for your time. good tasee yo see you. >> thank you. >>> the talking to at the american air force academy that made many americans proud this week. hi. so i just got off the phone with our allstate agent, and i know that...
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Oct 13, 2017
10/17
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CNNW
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affects nearly one third of filers, mainly high class americans in these states like california, new yorkany fighting to keep these tax breaks. the wall street journal reports that house republicans are working to keep part of the deduction how? by possibly cutting off the deduction at certain income levels. it's really interesting how immediately that state tax deduction became a flash point in this debate, and privately some of the tax negotiators have been saying, look, there's not really a constituency for people who live in these high earning, high income states complaining they want to keep their tax deduction. >> but there's a concern it pushes on the middle class. >>> three weeks after a deadly hurricane slammed puerto rico, president trump facing backlash after tweeting fema can't be there forever. >> this country, our country will stand with those american citizens in puerto rico until the job is done. it's no wonder why i use blue-emu maximum arthritis cream. blue-emu's non-greasy, deep-penetrating formula gets down deep into those joints for big time pain relief. and without a
affects nearly one third of filers, mainly high class americans in these states like california, new yorkany fighting to keep these tax breaks. the wall street journal reports that house republicans are working to keep part of the deduction how? by possibly cutting off the deduction at certain income levels. it's really interesting how immediately that state tax deduction became a flash point in this debate, and privately some of the tax negotiators have been saying, look, there's not really a...
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Oct 27, 2017
10/17
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FOXNEWSW
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when you talk about, in big communities, california, new york, new jersey, where you've got these big cities where people are really banking on being able to write off state and local taxes, salt as we call them and then the 401k issue came back after the president said yesterday as he was boarding air force one, marine one as he was headed to dallas. he said some things you just don't touch. you might have out there he meant the 401 is k and cutting do you know how much money you can put in your retirement that is not taxed. but is that really what he meant? he said it's on the table for negotiation? >> i think it's a non-starter for trump. he said multiple times that is something very popular with the middle class and had that's something they do not want to be blamed for by democrats, by harming the middle class. i think that and the corporate rate not going about 20% are two things that the white house are so adamant about keeping. >> these are deal breakers? >> right. but the deal breakers here, the negotiating ones is the salt deduction, state and local it deduction. because you
when you talk about, in big communities, california, new york, new jersey, where you've got these big cities where people are really banking on being able to write off state and local taxes, salt as we call them and then the 401k issue came back after the president said yesterday as he was boarding air force one, marine one as he was headed to dallas. he said some things you just don't touch. you might have out there he meant the 401 is k and cutting do you know how much money you can put in...
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Oct 23, 2017
10/17
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FBC
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illinois, california, new york, new jersey, are states particularly sensitive to this and the point iade largely, look, to walk away prothat and reassign a tax liability from one end country to another is not tax reform. we have to come together, members of congress from high-taxed states coming to the table on this trying to find a soft landing. from my point of view i think my constituents are particularly scandalized by the property tax. well, if that is true, is there a way for to us separate out property taxes from other things? there is a lot of discussions about this. but one point is, you can't have tax reform without reforming the tax code. it sounds like a truism. that means these things have to be on the table. they have to be readjusted to the point of coming up with something. melissa: absolutely. you brought back in the idea of a property tax around that. so are you saying you would trade in a property tax deduction would phase out at certain level? >> what i'm saying there is lot of interest coming up with a soft landing on this notion of state and local taxes and my co
illinois, california, new york, new jersey, are states particularly sensitive to this and the point iade largely, look, to walk away prothat and reassign a tax liability from one end country to another is not tax reform. we have to come together, members of congress from high-taxed states coming to the table on this trying to find a soft landing. from my point of view i think my constituents are particularly scandalized by the property tax. well, if that is true, is there a way for to us...
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Oct 26, 2017
10/17
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MSNBCW
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think about high states like new york and new jersey, california and illinois, who are very worried about eliminate the deduction for state and local income taxes. >> i think what we have do is look at the tax reform plan in totality. when you talk about state and local income tax, 72% of americans across the country do not itemize. after we double the standard deduction, it goes up to 95%. i'm a cpa as well. >> that's why we love having you here to talk about this. >> i have done multiple tax returns. i can tell you, some people think they're getting deductions. but they're not. the standard deduction is more than the actual expense. i think what we need to do is make sure we get all those pieces together. we have to explain it. i'm not too sure that state and local income tax -- by the way, this tax plan is to cut taxes for middle americans, not the wealthy. >> that's not really what it does. >> we looked at -- we don't have enough information. we would like to get it. hopefully we witness get it next week. everything is indicating that the top 1% get 80% of the benefit out of this tax
think about high states like new york and new jersey, california and illinois, who are very worried about eliminate the deduction for state and local income taxes. >> i think what we have do is look at the tax reform plan in totality. when you talk about state and local income tax, 72% of americans across the country do not itemize. after we double the standard deduction, it goes up to 95%. i'm a cpa as well. >> that's why we love having you here to talk about this. >> i have...
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Oct 5, 2017
10/17
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BLOOMBERG
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they really change your business .odel they really pushed, they did not just adopt places in california, new yorkhed the distribution out closer to customers and change the notion of how this would work. it also started to work on delivery on the ground. prime, it's groceries or amazon is a company that has a history of its fermentation. planesey started leasing in the fleet of over a dozen planes to really deliver stuff from point a to point b, that is when they made a substantial change to get closer to what fedex and ups at least look like in this offering. we aree of the business talking about they are competing with is so huge that it would take enormous sums of money and time to get things in this industry. just getting a lot bigger now from what we understand. mark: should we ask him that. trying to get into this industry in a big way? said, i think amazon's impairment in with different things. what we think of as the underlying factor here is that you and i and individual customers have basically said we don't pay anything for shipping. we think amazon is trying to reduce its overall cost
they really change your business .odel they really pushed, they did not just adopt places in california, new yorkhed the distribution out closer to customers and change the notion of how this would work. it also started to work on delivery on the ground. prime, it's groceries or amazon is a company that has a history of its fermentation. planesey started leasing in the fleet of over a dozen planes to really deliver stuff from point a to point b, that is when they made a substantial change to...
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Oct 26, 2017
10/17
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FBC
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high tax states like california, new york and florida, that hurts many middle and higher income constituentscome up with this, are the best place for you to retire with tax rates? keep money that you made in your pocket? man who does something called, senior migration patterns, follows where elderly move. how do you do this? >> thank you, generally we look at data, they ask questions where do people live, and live now and last year, we are able to track, where people are moving. liz: okay. where are people moving, and does it have any correlation to lower tax rates in the states? >> so, the primary places, in florida, i don't think that is a surprise. one trend we're witnesses with 2010 has been movement to other southern states, georgia, the carolinas are popular, on west side arizona. nevada was a popular place for a while until great resolution. -- recession, now idaho popping up. liz: interesting, a beautiful state, but should people be nervous this congress is going to start try to find ways to make money, bring in revenue from our 401(k)s? >> i think that there is you know -- at the en
high tax states like california, new york and florida, that hurts many middle and higher income constituentscome up with this, are the best place for you to retire with tax rates? keep money that you made in your pocket? man who does something called, senior migration patterns, follows where elderly move. how do you do this? >> thank you, generally we look at data, they ask questions where do people live, and live now and last year, we are able to track, where people are moving. liz:...
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Oct 11, 2017
10/17
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BLOOMBERG
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much wipedave pretty out republicans in states like california, new york, and new jersey.hat they are concerned about, it is the same problem that bedeviled them on how -- on health care. 52 senators on board for a far-reaching and sweeping plan when you have got all sorts of competing demands compete -- no new deficits than rand paul saying no tax hike on anybody and brought tax cuts on everybody. i do not know how you reconcile things. >> cosan murkowski, seeing as eating on the more liberal end of the things. senate. what are the sticking points for them? have not said much. i asked them before and after what she thinks of it. the response was it is still a work in progress. we know she has voted against the repeal of the state tax in the past. we know income in the multimillions is something that republicans are not enthusiastic about. a more interesting figure in some ways, her record on taxes is more in line with the rest of her party. she is an independent minded senator. 2010 afterlection in .osing the primary she does not feel like she owes her party anything. she
much wipedave pretty out republicans in states like california, new york, and new jersey.hat they are concerned about, it is the same problem that bedeviled them on how -- on health care. 52 senators on board for a far-reaching and sweeping plan when you have got all sorts of competing demands compete -- no new deficits than rand paul saying no tax hike on anybody and brought tax cuts on everybody. i do not know how you reconcile things. >> cosan murkowski, seeing as eating on the more...
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Oct 29, 2017
10/17
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KPIX
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property tax in a high cost housing situation like california, new york, illinois and new jersey, you can break those down. >> mortgage interest but not property tax? >> this would take the property tax deduction and the vehicle license fee and income tax. for californians is a huge hit. >> it would be your tax bill, not only what you pay in taxes, but the bonds and district taxes that we have added on in the bay area. >> so you can write some of that off now and you won't be able to in the future. there is a nice -- and attack on the cost. >> reporter: and solano county could be 10,000, but other counties, like yours, it would be $20,000. and in san mateo it could be $39,000 that people would have to pay extra in federal taxes? >> yes. that is the biggest part of your income tax on your federal tax, you won't be able to do that. it will be disallowed. >> reporter: how did we become so disproportionately hit by this? as opposed to oregon next- door and nevada. >> it is the big metropolitan areas where the economy is driving. san francisco, los angeles, chicago and new york. big metrop
property tax in a high cost housing situation like california, new york, illinois and new jersey, you can break those down. >> mortgage interest but not property tax? >> this would take the property tax deduction and the vehicle license fee and income tax. for californians is a huge hit. >> it would be your tax bill, not only what you pay in taxes, but the bonds and district taxes that we have added on in the bay area. >> so you can write some of that off now and you...
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Oct 3, 2017
10/17
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BLOOMBERG
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this, in an effort to secure votes from states like california, new york and new jersey.means committee chairman jim brady met with committee members last night. measures discussed included capping the deductions for top earners in allowing individuals to choose between deducting mortgage interest or property taxes. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton, this is bloomberg. scarlet: "what'd you miss?" chairman aboutr the company's widening data breach. consumer is affected, more than 145 million in total. they discussed to the events earlier today. >> my understanding is, suspicious activity [indiscernible] >> it could be a breach, right? >> it was deemed suspicious activity with no indication it was compromised at that time. we had no idea it was excellent traded up at time. scarlet: let's head to the congressman, thank you for taking the time to speak with us today. it is clear lawmakers are outraged in equifax's response and how they handled the full data breach. in terms of the solu
this, in an effort to secure votes from states like california, new york and new jersey.means committee chairman jim brady met with committee members last night. measures discussed included capping the deductions for top earners in allowing individuals to choose between deducting mortgage interest or property taxes. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton, this is bloomberg. scarlet: "what'd you...
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Oct 16, 2017
10/17
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CNNW
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court because these are state cases and misconduct subject to state law in different states, california, new yorkthis one was filed in new york. >> it was. >> nonetheless, if the court allows this to proceed during trump's presidency, then that's a huge precedent. for the other 74 lawsuits or however many there are and future presidents who may be subject to lawsuits for misconduct. >> for the private -- >> news just in that the board of producers guild has just voted to expel harvey weinstein. there was a question about whether this would happen. this is 48 hours after the academy would do the same thing. we know two cities are investigating sex assault allegations against him. where do you see this case going? >> well, it's not a surprise that the producers guild suspended his membership. i mean, this is all about the bottom line. they're trying to send a right message, obviously. i think it was the right decision to make considering the amount of allegations and accusers that have come forward. this isn't a shock. absolutely not. hollywood is speaking out. they should. we know woody allen just
court because these are state cases and misconduct subject to state law in different states, california, new yorkthis one was filed in new york. >> it was. >> nonetheless, if the court allows this to proceed during trump's presidency, then that's a huge precedent. for the other 74 lawsuits or however many there are and future presidents who may be subject to lawsuits for misconduct. >> for the private -- >> news just in that the board of producers guild has just voted to...
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0.0
Oct 6, 2017
10/17
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CSPAN2
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it's not just the rear group in states like massachusetts, new york and california. the reason it brings in 1.3 trillion is because it affects so many people throughout the entire country. don't believe me, look at the numbers. look at these charts, i'm posting here, and i hope the percentages for each state, 46% of the people in maryland get an average deduction of 12900. connecticut 41, new jersey, virginia, 37% debt and $11000 deduction. utah, 35% of utah taxpayers get an average deduction of $12954. in utah they said the standard deduction except for, it won't because were taken away the standard exemption. it's a wash if your family three, let's keep going. minnesota, new york, i want to show my republican colleagues how it would affect some of their states. let's take georgia. one third of all taxpayers get an average break of $9000. look at these numbers, i'm going to send them to everyone of you, look how it affects your state. okay, iowa 29% of all people get a $10000 break on average. pennsylvania 29% $11000 break. arizona, 28%, my friend from idaho, didn't
it's not just the rear group in states like massachusetts, new york and california. the reason it brings in 1.3 trillion is because it affects so many people throughout the entire country. don't believe me, look at the numbers. look at these charts, i'm posting here, and i hope the percentages for each state, 46% of the people in maryland get an average deduction of 12900. connecticut 41, new jersey, virginia, 37% debt and $11000 deduction. utah, 35% of utah taxpayers get an average deduction...
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Oct 2, 2017
10/17
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CSPAN3
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you mentioned california and new york. they are one of several higher tax states. one of the acronyms that gets kicked around is salt, state and local taxes. this proposes to eliminate the federal tax deduction for what any income earner pays in state and local taxes. there are 52 congressional republicans representing districts that according to irs data those congressional districts paid higher than the average state and local tax, about $3800 a year. peter king is one of them and he said he can't vote for any tax reform proposal that eliminates state and local taxes. if you lose any of those 52 house republicans how do you pass this? >> don't you love that politicians have our own languagecronyacronyms. i -- that's now referred to as state and local taxes. as i said, this doesn't help me. this hurts me. okay. i think longer term getting the federal government out of subsidizing states is the right thing to do. it's just not fair. the federal government should not be in the business of subsidizing states. this is something that started in the house plan and that
you mentioned california and new york. they are one of several higher tax states. one of the acronyms that gets kicked around is salt, state and local taxes. this proposes to eliminate the federal tax deduction for what any income earner pays in state and local taxes. there are 52 congressional republicans representing districts that according to irs data those congressional districts paid higher than the average state and local tax, about $3800 a year. peter king is one of them and he said he...
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61
Oct 1, 2017
10/17
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BLOOMBERG
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americans and we had gone to a similar crisis, it is true that if he grabbed an american from california, new yorkas, arkansas, we would also be overweight. that is the nature of the population. it is possible they would also -- the after shots to them look ok. a couple of our people have actually even heard that on the ground. they say you look better. julia: that is the difference. carol: we were talking about juan domingo cruz. he's a social worker, 35-years-old, single. his pre-crisis weight was 209 pounds. he is now 140 pounds. that is just talking about the amount of food not available to people. david: he said he skips breakfast. he'll try to bring lunch into work. carol: he bought cake on credit. david: he decided to splurge and buy a couple of pieces of cake at the local cafe, and be bought them on credit. carol: will president trump be able to rewrite the iran deal? this is "bloomberg businessweek." ♪ ♪ julia: welcome back to "bloomberg businessweek." i'm julia chatterley. carol: and i'm carol massar and you can listen to us on sirius xm 119 and 106.1 fm in boston, am 960 in the bay area
americans and we had gone to a similar crisis, it is true that if he grabbed an american from california, new yorkas, arkansas, we would also be overweight. that is the nature of the population. it is possible they would also -- the after shots to them look ok. a couple of our people have actually even heard that on the ground. they say you look better. julia: that is the difference. carol: we were talking about juan domingo cruz. he's a social worker, 35-years-old, single. his pre-crisis...
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pennsylvania is america's fifth biggest wine-producing state, behind california, new york, washington-year-old pascal brooks remains the world's youngest winery owner, following the untimely death of his father, jimi brooks. his aunt, janie heuck, volunteered to oversee brooks wines until its young heir comes of age. but she's struggling to keep her brother's legacy afloat. that is, until she gets a phone call from a wine steward in chicago. >> he called me and told me he was catering a dinner and wanted to serve our riesling, and, lo and behold, the next day i got a phone call and an e-mail from the white house. >> brooks' 2006 ara riesling is selected for president barack obama's first state dinner, honoring the prime minister of india. >> when the white house calls and places an order for wine for a state dinner, does that wine sell out? >> well, in this case, because there was so much hype around it being his first dinner, it made it even more sought-after. >> even though brooks wines is now riding high, things aren't going as well for pascal. >> i think there's the age when their
pennsylvania is america's fifth biggest wine-producing state, behind california, new york, washington-year-old pascal brooks remains the world's youngest winery owner, following the untimely death of his father, jimi brooks. his aunt, janie heuck, volunteered to oversee brooks wines until its young heir comes of age. but she's struggling to keep her brother's legacy afloat. that is, until she gets a phone call from a wine steward in chicago. >> he called me and told me he was catering a...
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104
Oct 12, 2017
10/17
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KTVU
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republican lawmakers from high tax states like california, new york, new jersey and illinois as wellunions and business groups want the administration to reconsider eliminating that deduction. >>> several sports teams announced a joint donation yesterday of $450,000 to help the fire victims. the donation is from the oakland raiders, the oakland a's, san francisco 49ers, san francisco giants and the golden state warriors and the san jose sharks. in addition to the base donation, the teams are asking fans to give to the bay area unite campaign that will benefit the american red cross. the red cross needs a lot of help right now. >>> our coverage of the north bay wildfires will continue at the top of the hour. >>> new pictures of the firefight in napa and sonoma county. >>> any new concerns for solano county. the neighborhoods being told to be ready to leave. >>> good morning. we can see it will be busy on some of the commutes. this is a live look at the commute in san rafael where traffic is moving well. >>> we are ready to go. the smoke is thick. they advised us to get ready to go. >>
republican lawmakers from high tax states like california, new york, new jersey and illinois as wellunions and business groups want the administration to reconsider eliminating that deduction. >>> several sports teams announced a joint donation yesterday of $450,000 to help the fire victims. the donation is from the oakland raiders, the oakland a's, san francisco 49ers, san francisco giants and the golden state warriors and the san jose sharks. in addition to the base donation, the...