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tv   News  RT  May 26, 2018 2:00pm-2:31pm EDT

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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 reach changes some businesses have annual client appreciation day at sporting stadiums however they may have to cancel this year due to the tax laws 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 hine 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
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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 effect in this year probably changed. the perks that businesses on earth to their employees and
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washington actually banks are it seems. time now for a quick break but hang here because when we return henry ford went to the c.e.o. of drill 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 mohai lubitsch tells us about a tiny u.s. tax provision that might impact life love and finances as it goes or we do go to break here's a quick question for you which of the following us states have no individual income tax the last the floor those the bottom stuff that go to texas washington or wyoming which ones have no state individual tax the answer right after a break will be that. level one hard sell you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles that still. produce ought to try to tell you
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that what we gossip and probably less files this report today. off the bad guys i'm telling you are not cool enough and like to buy their product. these are the hawks that we along the border will want. guys are financial survival. when customers go buy yourself. then else will reduce a lot. that's undercutting but what's good for the market is not good for the global economy.
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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 can be 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 your taxes no matter how margaret thatcher used to say there's no such thing as
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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 the 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 in america is i'd never want to live in one of those high tax countries meanwhile no one's paying for their kids' college education when you're not paying for kids' college education and you're not paying for health care out of pocket that makes a lot of difference the government gives you a lot more in those countries so there is a lot to consider and there are a great many nuances to that credit it's a zero sum game unless the same way every whenever we talk about gas prices in the us which states are the highest because of the state tax and then when you talk about international petrol prices you look at france and it's you know what it's
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actually dollars a gallon really for your leader or whatever and it is just because the taxes when you are going to match up to the gallon 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 no but if you want to live in somewhere with a lowest income tax rates that would be cayman islands but homages 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 muta 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
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states is sort of third highest in terre chad is really high in corporate tax rate in 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 tech nineteen percent much to the chagrin of a lot of e.u. companies e.u. in general and an apple x. yeah 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 got to 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 the south a gall way western ireland and part of the tax treatment was part of that decision that they made hillary sword with no no i was that they've got in europe also don't
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forget they got penalized countries that do business there like starbucks and don't pay the tax rate in those countries so there oftentimes it's 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 title that i thought yeah. here to discuss 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 what a sixty percent of the companies rather are doing is stock buybacks and dividends
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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 hardworking americans and as you just mentioned there been a record amount of stock buybacks meaning that companies are purchasing back their own shares and thus lending the. it's of their investors this is not the trickle down theory that we were taught to believe what happened as far as the tax changes would benefit and what what and it being is that these tech these buybacks are happening and instead of investment happening as far as companies building more factories here in the united states there again purchasing back their shares were mining in the pockets of investors and in addition they're increasing
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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 prison the other side is that well these investors are americans they're investing and if they get a dividend maybe they'll go buy something that'll help other other folks will what so you well investors are shareholders i mean who has shares of all these companies who has for a 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
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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 and new hirings and i got to tell you if things are so dire and these companies aren't hiring and that 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 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 that the money is actually
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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 and the increase in the success of the and the value of the stock that's going to average folks right off the bat as far as going to employ on i'm not and i'm not sure that i mean i want to help everybody but i'm not sure that you know investors and starker are actually all average but susan what do you what do you think i mean are there places where we can see some of the benefits of tax reform actually making it down to average families if you're talking about what average employees are seeing polls are coming back time and time again that folks are just not seeing these benefits in their paychecks and so if this was actually happening people would be saying and they would be happy they would be supporting that tax law but that's not where we are the majority of americans dislike this tax law partly i think the has to do with the fact that this
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is self dealing everyone knows that congress a lot of them actually make their income from l.c.s. are passed through these types of companies that received a huge benefit as far as the tax cut donald trump himself has hundreds of these. people are seeing that this was obviously not focused on what their needs were it was on the needs of the rich. and well see 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 it will see 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
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people are to satisfy 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 a 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 thank you where. there's a new piece of texas law that could impact your personal life and marriage artie's alex my hyla which brings us the latest from toronto. well as most of you know premiums have provisions in there which say how much somebody is going to have to pay alimony or spousal support when an marriage is done now this can be
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tossed right out the window let's say if a prenup was actually signed under duress or sometimes even if it was signed too close to the wedding date it just might be null and void well now there's another factor that's coming into play here and that is the fact that this can be challenging under the new tax laws that trump is bringing in now starting in two thousand and nineteen payers of pre in the prenuptial agreements will no longer be able to deduct alimony payments so up to now they've been able to deduct these things and when you're fear in the highest tax bracket that could be a lot of money for example if you live in california or new york city you're almost paying fifty percent in taxes so that's again look if you're writing ten thousand dollars checks for alimony that could be looked at twenty thousand dollars because you cannot deduct these checks anymore or the amount that you're paying anymore which is a lot of money obviously now republican lawmaker said they eliminated the alimony deduction to end what they call a divorce subsidy under the old law but there is
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a bright side to this tax dollars that is going to be a lot generated here we're talking about six point six point nine billion over the next decade and also if you had a divorce or separation that was finalized but before two thousand and eighteen while you're ok then you're going to be exempt from this completely starting next year though this kicks in and get this this is really an interesting provision here recipients who are getting the money are going to get it tax free up to now it's been a part of their taxable income so a little bit of that switch there now attorneys are saying that this might complicate things and even complicate maybe at marriages in general just imagine having a say hey honey let's go redo that pre-nup we did a few years back there that's not a good thing for anybody and you know what even president trump knows that back in two thousand and six and he's talked to new york magazine and he. call the pre-nup are paid full ugly tool and if anybody knows anything about divorce and prenup well that would be president donald trump. that's it for this time thanks for catching
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our taxing show you can catch boom bust on you tube at youtube dot com slash boom bust archie or on direct t.v. channel three twenty one will catch you next time. for a world cup twenty eight team coverage we've signed one of the greatest goalkeepers of all time but there was one more question by the way who's going to be our coach . you guys i know you are nervous he's a huge star among us and the huge amount of pressure come out you have to go i mean eighty percent of the poll we are with you and we will go all the great the great good you are the rock at the back nobody gets past you we need you to get the ball going let's go. alone i just i want to you know and i'm really happy to join us today and for the thousand
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and ten world cup in russia meet this special one come on both appreciate me to say the redo the aussie team's latest edition to make up the big i need to just say look. ily. ily
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ily. ily . but. i mean look i. really. don't mean that i'm. going through. you know kilometers. or not that's not. what i'm going
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to that's going to make. the leaders of north korea meet to discuss the potential u.s. north korea peace summit a president from still keeping people guessing as to whether he'll show up. at this hour america's afghanistan mission is a failure by the government's own orders it's being welcomed by critics who say the military's got nothing to show after sixteen years and billions of dollars spent. on there's something fishy in the waters old boy in west coast america where a muscle tested positive for opioids highlighting the scope of a national prescription drug.
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twenty four hour news live from moscow this is our t international my names you know neil welcome to the program the leaders of north and south korea have met for the second time and less than a month since their first historic face to face talks they met again on sunday in the de-militarized zone separating the two nations south korea. se's the main focus was to discuss the possible summit between north korea and the u.s. well the korean leaders may be keeping things on track but president trump's mine's been changing like the wind his positive overtones took a hit on thursday when he abruptly pulled out of meeting kim in june but the next day president trump ended that it was all potentially back on again we'll see what
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happens with. that very much wanted. because. everybody. knows that you know that better than anybody. turnabout comes after north korea issued a statement reiterating its willingness to sit down for talks donald trump had canceled the meeting when p.r. described the u.s. vice president as a political dummy mike pence had earlier threaten north korea with the fate of libya if the talks failed sadly based on the tremendous anger and open hostility displayed in your most recent statement i feel it is inappropriate at this time to have this long planned meeting the summit was council despite north korea's efforts towards deescalation such as the release of american prisoners and the destruction of its only nuclear test site we asked international relations expert mike shanahan
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about what it would take to convince the american leader to hold the summit. who knows what he's up to i'd suspect least of all donald trump knows what he's up to i mean this is somebody who jumped into that meeting first of all quicker than a ferret up a drainpipe there is no policy behind it this is somebody who is into making headlines and appeasing the base and yesterday the news to not go down well with his base supporters that he had pulled out of this meeting he'd always seen it as a chance to make peace on the korean peninsula which would be world breaking history and i think you saw yesterday who saw all of that dissolving. well the on off the pole mistake comes as pyongyang decommissioned its only nuclear test site in a conciliatory effort ahead of the original talks date our correspondent in course it all off was among the small pool of international journalists invited to certain
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money he not only witnessed the destruction itself but also managed to get some insight into the reclusive country. this is the restaurant car and as you can see it's dinner time we have been promised a ten course banquet also we know that the part of the journalist pool from asian countries are dining in a separate cause but then you'll these more traditional for them and ours was tailored more along to our tastes. this is where i will be spending the next eleven hours or so on my very own oriental express i guess so check out the room the first thing to notice about it is the windows the blinds are shot there is some sort of a seal and we're not allowed to even peek from them never mind filming the thing. is in that condition is the beverage is but really not much left to do but to go to
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bed. everybody so we just woke up puts six in the morning but check this out i just want to show you something really quickly they've opened the window the blinds are out so we probably means that we're really really close. so we've finally arrived this is the dock station we're being told a cylinder now we're up for a bus ride these are the buses that will take us through the next leg of our journey. this is where the buses have taken us behind me is an entrance to one of the tunnels and in a few hours from now it will exist any more. right now we're walking into a different tunnel the people here are reassuring us saying that there have been no radiation leaks but many journalists may think that well it's better safe than
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sorry as you can see some are wearing respirator mosques and some crews have taken . me to with them to this trip which were confiscated at the customs we were also handed out these yellow safety helmets inside all tunnels more or less looked the same of this one is the newest one and hasn't been used at school but still as you can see like all others it is rigged for an explosion. throughout this trip we have been made very clear that what we've been treated to on this trip was a privilege not to many people here in north korea to experience it done of reporting from north korea to see. yeah
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a rare journalistic piece from inside north korea there by igor is i don't know if he is still regularly posting updates from the country on his twitter page to check it out. president of france may have been talking up people focused policies in recent days but right now far as i'm sure rallying against his reforms let's go live now to the french devinsky is there for us surely it's a familiar sight for both of us we've spoken about protests many times in recent weeks does this differ from any of the previous marches and rallies protests we've seen in recent time. i'd say the one big difference about the protests today is that this isn't just about a protest against not going this is a protest against many things that people are unhappy about this antiwar coalition here and occupation for gaza and palestine here and the idea is all these different
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fronts are coming together to show their own happy with the current status quo here in front of the majority people of course hate to say that they are against the policy of much more than some governments and this is the fact that they're unhappy with the idea of selection at universities the fact that he said he wants to cut a hundred and twenty thousand jobs he's fully from the civil service people who are unhappy with the way that they wages they feel are decreasing in the health sector teachers are unhappy and this is what people are saying is that if we come together then hundred feet this is our weapon our weapon of all voice being the president michel and it's not the only protests that we've seen this week on tuesday there were violent clashes between protesters and the police those protesting had a huge effigy over one which had a bullet in its head and. that effigy of michael in the protest in cheese steak
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showing just how much. there is against france's president out there may make people today coming together to voice their concerns once more to say we will come together we will have a voice and we will. see when it's probably not likely to be the case my point has vowed to push ahead with the reforms that he says he was elected on this is manifested pledges but people here they determined that they would do everything to stand in his way you should just point out some of the pictures that we were seeing charlevoix speaking were from previous rallies there in the french couple charlotte thanks so much from charlotte dubin ski in morris. there is a grim new assessment of progress for the united states in its drawn out mission in afghanistan government auditor's see efforts of stalled out best and worst are
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feeling here's a quarter if you think that after sixteen years the u.s. led mission in afghanistan would finally have something to show for its trouble well here's how the federal authority tasked with overseeing reconstruction sees it . between two thousand and one and two thousand and seventeen years government efforts to say be licensed secure in contested areas in afghanistan mostly failed the us government greatly overestimated its ability to build and reform government institutions in afghanistan a pretty clear picture from cigar the top brass in washington though wants to assure you they have everything under control now looking at a twenty eighteen as president gandhi said he believes we have turned a corner and i agree the momentum is now with the afghan security forces and the taliban cannot win in the face of the pressures that i outlined you think they're talking about two completely different.

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