Tax Reform Passes House- Esther Gulyas Analysis


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Esther goalie as the tax lady from HE tax is with us this morning as they GOP tax bill makes its way through Capitol Hill it has cleared the house. It has cleared a senate committee and now is heading for a vote by the full senate sometime after Thanksgiving. Yesterday you were joined us before when they were kind of formulating this bill. You are saying basically. It's not a middle class tax cut. Right well the thing is especially in the dark day as. About a third at every item on that than your statement. I. Property taxes than they income taxes. At the elimination of the hurt like that and I think at the big thing for me I mean it would be kind of record you. Neutral to. The amount of money that you're really gonna say a Stanley at war with the kids look at it at seventeen or older making 75000. Dated item right before that there are packed an item I know how it costs them 236. Dollars at the end of the world. Amid flat. It's that same family. If if the hit their under the age of seventeen because once you're seventeenth. You does that speak intent that they actually saved thanks to seek war and that same daily that they had itemized. Because they can't itemize now we're caught in 236. Ballot again so. Company with Nokia. And no itemized deductions are gonna make out by about a thousand dollar. If you're middle income. As I mean middle income 7580. Packed out there under. But you appear upper income you're gonna definitely make out that it. Theory that her people and higher income brackets but people that understand the current collective instead eliminated so they talk about. Doubling the standard deduction. With your personal exemption right now you're getting 22000. Apparently if you 24000. But you yet but if you had a family. I print it here behind it all but. Alimony would be gone we'll be would be gone educator expenses on medical god. A second home interest on property taxes climb that and it has gone they'll act going here they know that god. Yet it while god investment opposite Hulk on equipment your job job apple education job hunting in the park union dues legal professional. All gone. So for those self employed not to be a pretty picture. All that different does it beat her people that are employee. So psyched EL IE you know like at her inner there are that they really beyond their guys. Now it going forward aren't. Have you seen any changes in this build suit help out some you know Lou people who are in the middle income bracket over the last month or so that this has been tossed around. Pretty much the the house made the payment for the 20% cut on the court ordered by the senate they have very. They kept up out there and a lot they wanted to get out. Date yet let the 101000 dollars. Optical about the dollar and real they connect with DN. But think about that the yet no purse like that Nokia theatre production twice about it at this immediately. They can and so you know that the city if you had had thousands in the real estate taxes like that the minute trip. 2000 and charity that come to 181000. And it is actually quite collect now the popular item I eat it without them there. It would never do it via Esther these caught only stay in April 20/20. Okay Chris Collins the congressman was not with us earlier this week he said 95% of Erie county taxpayers would see a tax cut do you agree with that. Not at all. What number do you think it's almost a tale. Well and end tax cut is relative you know I mean it get you dollar tax cut. You know I hit me that pretty much neutral. Probably. I would think 50%. Our people are going to see a modest. Reduction in taxes and I would think. Maybe 20% will stay about the game and 30%. Will pay more tech. Now it. A lot of people Chiming in who would support the planned support some sort of tax reforms saying that while if this is meant to benefit businesses. No maybe people's paycheck will increase and that it will go along that line in your history of on and working with taxes and kind of studying this in and out helping people are around tax time. Do you see you when tax changes are made that are like this. Do people generally get a bomb in income do you see more income coming in Nancy she attacks every a year. Ari and hear that this is definitely got out. You know I think is yet because I don't think you can really look at this and hate. Big windfall summit collect taxpayer can't quite almost shared very wealthy. But it definitely pick out a little help people you know hopefully we get full employment. That thing in my situation I just want people to think that they're really gonna pick on the money yet. Obviously every time that you attack lot it's good for our current market. When they can't attack flock who. In general soccer media I think it's great commit jobs. Perspective I don't think it's so hot or not. A tax perspective and it especially not with the people that live in New York State. Esther it's always great to get here. Input on this thanks as Esther Julius the text lady from EG tax.