tv News RT May 26, 2018 9:00am-9:31am EDT
vay done by wall street journal including eight hundred sixty five firms forty five percent of those firms say they will be affected by the new tax laws forcing them to cut spending or make adjustments which will impact their employees big corporations will not feel the impact as much the cut in the corporate tax rate of twenty one percent lower the deductions value and as for small businesses their tax higher between twenty nine percent and thirty seven percent small firms also operate with thinner margins and are usually more sensitive to tax reach. some businesses have annual client appreciation day at sporting stadiums however they may have to cancel this year due to the tax loss because under williams chief executive of a tech consulting incorporated says quote we have season rams tickets the invoice is sitting on my desk do we do this or do we not what is our return on investment joseph 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 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 . you are no longer deductible these new laws are set to take us back to this year
possibly changing the perks that businesses on earth to their employees and washington actually banks are it's. time now for a quick break but hang here because when we return for which 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 my heart tells us about a tiny u.s. tax provision that might impact life love and finances as we go there 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 out of south dakota texas washington or wyoming which ones have no state individual tax the answer right after a break will be that. banks
guys are financial survive until they save money that the relatives going to be using this is a central plank supported by the gunman's good club and right now it's a stop to that. in july twenty seventh team. a freelance journalist working with a. militant showing in syria. joan and his sacrifice quality has established a memorial they will recognize more reporters who often risk themselves with the sake of the truth comes through that peace you can submit to your published works in a video or written form until june the twelfth go to a. good politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president. injury of course i'm one of the brits. it's
a going to be for us was what before the three of them or can't be good that i'm interested always in the waters of our. first. welcome back the answer to our quiz question which of the following states of 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 straw mark the rift word which hillary thanks for being with us
first of all what are what's the best place to live from a tax perspective well around the world i think is an interesting question and good to be back again by the way i have a county up for that actually which is you know tax rates might be low and they might seem to be low and brokaw's to be low but when you actually live there or do something that you find that the government gets your taxes no matter how margaret thatcher used to say there's no such thing as a free lunch i've got to tangible examples i bought a bottle of champagne be before christmas in washington d.c. . and then coincidentally i happened to be in texas a few weeks later and took a bottle of piper heidsieck that i bought locally to a family seven dollars difference tex's a non-tax state but they sure got you on the sales tax also i lived in the netherlands 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 kid's 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 by 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 the. when you talk about international petrol prices you look at france and it's you know what it's actually dollars a gallon really for their leader or whatever and it is just because of taxes but when you go into math after the gallons you know let's go to which are with your coffee and with my caviar which are the lowest individual tax rates on the planet where the world where you want to if you want to just go and also that means that never go shopping but if you want to live in somewhere with a lowest income tax rates that would be cayman islands but homages morrish i'm done with that so far you can 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 highly are very high they're all around fifty percent mark yes and what about if your company is the same you would go to the caymans or. horses yes but mutable you there's no corporate tax rate there's no corporate tax rate also you're right in the cayman islands you know it's really high it's chad the united states is sort of third highest in terre chad is really high in corporate tax rate in income tax rate i guess they don't want people they don't want companies but the united states is about third highest in corporate taxes i would say that on the on the high corporate tax rates you've got china and united states and countries like united are our of arab emirates and we there's been lots in the news the last several years about ireland being a low tax ninety percent much to the chagrin of a lot of e.u. companies that you 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's getting getting the idea that they've got to know the tax base and they lowing them in the u.k. obviously to compete also with ireland and they just made that decision they were not going to actually were amazon not going to actually build a big plant near the south or galway well. in ireland and part of the tax treatment was part of that decision that they made hillary sword with no nos i was that they saw it but in europe also don't forget they've actually 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 you to out of that i thought yes. 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 moberg conservative t.v. and radio host thank you both for joining us susan let me go to you first we've had several months of the new tax bill being in effect and we saw a lot of companies that were going to give employees some raises and put some money into some pretty good things for individuals but recent reports of come out and said that what some of the what a sixty percent of the companies rather are doing is stock buybacks and dividends now is that a bad thing a good thing what your take. public citizen feels that the benefit for the tax cuts should be going to families and hard working americans and as you just mentioned there been record amounts of stock buybacks meaning that companies are purchasing back their own shares and thus lining the pockets of their investors this is not the trickle down theory that we were taught to believe what happened as far as the tax changes would benefit is what what i'm good being is that
these tech 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 only in the pockets of investors and in addition they're increasing investments overseas so we're going to increase this trend moving forward unfortunately. yeah we did see that with the with harley davidson which is one of the companies that both speaker ryan and the president touted as really benefiting in their closing a plant in kansas city and moving some of those jobs to york pennsylvania but also shifting some operations to thailand but steve i also imagine that some might say taking the other prisoner the other side is that well these investors are americans they're investing and if they get
a dividend maybe they'll go buy something that'll help other other folks so what say you well investors are shareholders i mean who has shares of all these companies who has for one k.'s i mean the stock market is roaring people's retirement accounts and other not retirement accounts are soaring because of what these companies are doing but let's not forget company after company and you could go back and google all the companies that lined up after the tax cuts and gave bonuses to their employees who came here and said they're going to invest in new plants and new hirings and i got to tell you if things are so dire and these companies aren't hiring and then taking jobs overseas then why are we at record low unemployment what is sixty eight percent of the people polled by c.b.s. last week to give donald trump credit for the for the good economy and why do sixty seven percent. of seventeen year high people think now is a great time to find a quality job that's a twenty five percent increase in that number since trump was elected not to
mention small business is that a ten year high when it comes to optimism so something's going right. but steve is there any evidence because the anecdotal stuff i agree was great i was really psyched about what companies said they were. doing but the bloomberg report in a morgan stanley report that's not really hard of a to money is actually getting to average folks you know do you have it is there some out there. well again i mean there it is getting to average folks even through the stock buybacks and the increase in share prices 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 they has to do with the fact that this is self dealing everyone knows that congress a lot of them actually make their income from l.c.s. are passed through these types of companies that received a huge benefit as far as the tax cut donald trump himself has hundreds of these. people are seeing that this was obviously not focused on what their needs were it was on the needs of the rich and well c.e.o.'s if i had my eye go ahead larry that we haven't talked about the individual side of this we're talking to trading on business let's talk about the individual most people in this country do not itemize
they take the standard deduction they're going to get a doubling of that standard deduction so right off the bat that benefits the average american family who the estimate is will sit well about two thousand more dollars in their pocket not paycheck to paycheck. necessarily right off the bat but when they file their tax returns so as far as the polls that say people are 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 to tax increase if the democrats take over the congress and see what the answer to that poll question would be a big fat no we're going to we're going to have to we're going to have to unfortunately leave it there but a great discussion and we may have a chance to see what will happen next year on this i thank you both so much susan harley and steve mauls we appreciate your time thank you thank you where.
there's a new piece of tax law that could impact your personal life and marriage archies 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 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 any more of them out that you're paying anymore which is a lot of money obviously now republican lawmaker said they eliminated the alimony deduction to end what they call a divorce subsidy under the old law but there is a bright side to this tax dollars that is going to be a lot generated here we're talking about six point six point nine billion over the next decade and also if you had a divorce or separation that was finalized but before two thousand and eighteen while you're ok then you're going to be exempt from this completely starting next year though this kicks in and get this this is really an interesting provision here recipients who are getting the money are going to get a 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 may marriages in general just imagine having
to say hey honey let's go redo that pre-nup we did a few years back there that's not a good thing for anybody and you know what even president trump knows that back in two thousand and six and he's talked to new york magazine and he. called the pre-nup hard paid full ugly tool and if anybody knows anything about divorce and prenup well that would be president donald trump. that's it for this time thanks for catching our taxing show you can catch boom bust on you tube youtube dot com slash boom bust r.t. or on direct t.v. channel three twenty one will catch you next time. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics school business i'm show business i'll see you then.
i don't like that but it is our that our lab here that. much as the students all. get it out here let's little. look. hey you. know we have set a and being that doesn't mean i'll just tell you that outside of the knock on them and. by then i got a session on the nod that they know. by then is a system on. a study listening to an audience that of course is going to learn more. songs certainly not so it. can be no surprise was revealed to the pope multiple injuries among current america so for them to keep sophie hold most of the work but the show's real year mars on the phone to the book and the feeling perfectly simple so simple so the say yes but i don't know it's a book in
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regretted to tell us north korea talks might be back on track because donald trump strikes an optimistic tone on the prospect of further dialogue. u.s. lawmakers vote to push the pentagon to investigate american soldiers involvement in interrogations in yemen secret torture prison plus. israel's supremum quick to greenlight the continued use of lethal military force against along palestinians in the gaza strip eighty six palestinians were injured on friday in the eighth week of anti occupation protests. muscles
in waters off seattle and west coast america tested positive for opioids highlighting the scope of a national prescription drug crisis in the u.s. . a warm welcome you are watching r.t. international with me aaron good to have you with us now our top story this hour donald trump's historic summit with north korea's kim jong scheduled for june in singapore might be back on track once again the apparent u. turn comes after the white house called off the meeting on thursday we'll see what happens to the. result good or very very much want to do or would like to do because you want. john everybody to know that you know that's better than everybody else. well the world
continues to come to terms with donald trump's unpredictability and just a day after he announced that the historic summit in which he would meet with kim jong un in singapore was called off now he seems to be hinting that it may be back on the table so what changed his mind once again what appears to have been a statement made by north korea in which they said they were still open to meeting and sitting down with the united states at any time now seems particularly sensitive to these statements from north korea his previous decision to cancel the summit was also based on a statement from north korea this is donald trump 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 now north korea had jumped on mike pence the vice president of the united states and called him a political dummy and that was after he had invoked libya and the toppling of the
libyan government in two thousand and eleven as a possible outcome or strategy for the talks you know in addition to statements north korea has actually released three american prisoners and they've actually gone as far as to blow up their only nuclear test site however it seems that for donald trump words speak louder than actions some people are looking on this and saying that maybe something deeper is going on beneath the surface here perhaps this is what you might call a psychological tactic of attrition donald trump did after all right the art of the deal and it seems like he might be playing hardball in the lead up to a potential meeting or no potential meeting with north korea a lot of unpredictability on the part of the president of united states people wonder what the ultimate outcome will be but it seems like only donald trump really knows what's going to happen next who know who i suspect least of all don't want to know what he thought i mean this is somebody who jumps into the main thing first of all quicker than a ferret's up a drawing there is no polish to be. 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 worlds breaking history and i think you saw yesterday who saw all of the dissolving the on after play misty comes as pyongyang decommissioned its only nuclear test site in a conciliatory effort to head of the original talk days our correspondent was among the small pool of international journalists invited to the ceremony is not only witness the destruction itself but also managed to get a little 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's the part of the journalist pool from asian
countries not dining in a separate cause but then you will 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 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. the neck and dishes some beverages but really not much left to do but to go to bed . everybody so we just woke up puts sits 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 there we probably means that we're really really close. so we finally arrived this is the dog station we're being told a cylinder now we're up for
a bus ride these are the buses that will take us through the next leg of our journey. and. this is where the buses have taken us behind me is an entrance to one of the tunnels and in a few hours from now it won't exist anymore. right now we're walking to a different tunnel the people here are reassuring us saying that there have been no radiation leaks but many journalists they think that well it's better safe than sorry as you can see some a wearing respirator mosques and some crews have taken those he meets his with them to the strip which were confiscated at the customs we were also handed. these yellow sci fi helmets inside all tunnels more or less of the same this one is the newest one in the news a troll but still as you can see like all others it is rigged for an explosion.
this should we be made very clear that what we've been free to choose in this trip was a privilege not to many people here in the career you to experience it matters done of reporting from north korea for our team artie's egos don of that he's still regularly posting updates from north korea on his twitter page so you can go there and check it out for yourself. the u.s. house of representatives has voted to demolish the pentagon investigate the alleged involvement of u.s. military personnel in torturing detainees at secret prisons in yemen according to a un report suspects at the sides were exposed to beatings electrocution and sexual
violence some were imprisoned in a metal cell in the sun others were denied medical treatment there are reportedly eighteen secret torture prisons in yemen and neighboring countries there signed some mostly run by one of the main u.s. allies in the region and that's the united arab emirates well those prisons were reported on an investigation carried out by the associated press their source that is at the pentagon acknowledged that u.s. forces had been involved in interrogations but denied any part of the patient or knowledge of abuse however even if that was the case this could still amount to complicity in torture is american personnel interrogated detainees who had been tortured human rights advocates have condemned the reported methods of interrogation. the u.s. hasn't learned the lesson their corporate in with forces that are torturing detainees and ripping families apart is not an effective way to fight extremist
groups the united arab emirates has officially denied any involvement in running secret prisons in yemen as well as torturing suspects political scientists call in cavell says there's a reason for low public awareness of what the u.s. is doing in yemen. congress murray continued to call for the exposure of what the u.s. is doing in yemen the mainstream media in the united states has not been formally american. about yemen or exactly what we're doing most americans have absolutely no idea what we do with the middle east in the first place and definitely when it comes to a particular country. most americans have no idea or so the mainstream really feels no pressure of the current to really expose
the illegality of what the united states is doing in yemen the illegality there's a tremendous war. eighty six palestinian demonstrators were injured in violence on the gaza border on friday it's the eighth week of anti occupation protests known as the great march of return encourage every has been following events. oh. god. oh. my god. says the beginning of the great march of return on the thirtieth of marked at least nine thousand palestinian protesters have been injured with live ammunition tear gas canisters and other weapons there israeli forces have been used against the palestinian protesters and sends the low.
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