Podcasts about Child tax credit

You don't need to work longer, you just need a better plan. Schedule a consultation with this link to tailor a plan that suits your unique financial goals: https://calendly.com/charlesdzama/dzamatalk-complimentary-15-min-phone-call“One Big Beautiful Bill: What It Means for Your Wallet and Your Family”

While the new spending and tax law boosted the Child Tax Credit by $200, child care costs have risen 30% since before COVID. The U.S. spends less of its GDP on child care and pre-kindergarten than other industrialized nations, and many families face tough choices when confronting the cost of child care. Also on the program: a calm start to the week for financial markets despite political instability in Japan and a trade war.

While the new spending and tax law boosted the Child Tax Credit by $200, child care costs have risen 30% since before COVID. The U.S. spends less of its GDP on child care and pre-kindergarten than other industrialized nations, and many families face tough choices when confronting the cost of child care. Also on the program: a calm start to the week for financial markets despite political instability in Japan and a trade war.

Although nonprofit organizations play a vital role in recognizing and addressing the needs of the community, research shows the percentage of nonprofits involved in advocacy or lobbying has dropped considerably over the past two decades. However, nonprofits working together on an issue are more likely to engage in policy advocacy. Over the past few years, The Chicago Community Trust has successfully supported nonprofit organizations in working together to advance systems and policy changes that facilitate economic mobility. However, policy change is a long road. Passing new laws is a step in the process, but implementing these policies and holding decision-makers accountable for the true intent is essential and ongoing work. In this episode of Trust Talks, host Ianna Kachoris, associate vice president of people, power and policy at The Chicago Community Trust, is joined by Erion Malasi, policy director at the Economic Security Project; Tracy Occomy Crowder, deputy director of organizing and policy at Community Organizing and Family Issues; Ellen Nissenbaum, senior advisor at the Center on Budget & Policy Priorities; and Ameya Pawar, president & CEO of the Michael Reese Health Trust. Using Illinois' Child Tax Credit as a case study, they explore the power of coalition-based advocacy, the critical steps that follow the passage of a bill, and the essential role philanthropy plays in supporting nonprofit advocacy and community organizing. This episode was produced by Juneteenth Productions and recorded at WBEZ Chicago.

Dwayne Stein from Mortgage Gumbo joined the show to discuss a 40% year-over-year jump in mortgage applications, steady interest rates, and the potential impact of the new Vantage 4.0 credit scoring model—which pulls data from all three bureaus and could expand access to homeownership. They explored how credit, rates, and property values are influencing different types of buyers and what it all means for the future of lending. Gregory also broke down current market conditions, including the effects of tariffs and the possibility of future rate cuts from the Federal Reserve, pointing to signs of economic resilience despite volatility. Looking ahead to 2025, he outlined key tax changes: a new $15,750 standard deduction for individuals, a $6,000 bonus for seniors 65+, a temporary $40,000 SALT deduction cap for those earning under $500K, and a $2,200 Child Tax Credit increase. Other updates include no taxes on tips or overtime up to $25,000 for singles and $50,000 for couples, a permanent $750,000 limit on mortgage interest deductions, and the return of charitable deductions for non-itemizers in 2026. Whether you're buying a home, adjusting your investments, or planning for future tax changes, this anniversary episode delivers smart strategies and timely updates to help you stay ahead.

It's hard to overstate the danger that lies ahead for many families in Oregon and across the country, especially the families already struggling the most to stay afloat economically, as a result of the budget reconciliation law passed by Congress. This law will leave many Oregon families less healthy, hungrier and poorer.

This episode provides an overview of significant changes to tax laws announced on July 4th, 2025. Key points include the permanency of temporary tax laws from 2018, slight increases in standard deductions, and significant increases in the state and local tax (SALT) cap from $10,000 to $40,000. Additional updates include adjustments to charitable contribution deductions, new senior tax deductions, auto loan interest tax deductions, and child tax credits. Other notable changes include the expiration dates for electric vehicle and home energy efficiency tax credits, as well as the introduction of new investment accounts for newborns. 

Congressman Mike Carey breaks down how the new law helps seniors, farmers, parents, low-income families

Leslie is joined by Bruce Lesley, President of First Focus on Children, a bipartisan advocacy organization working to make children the priority in federal policy and budget decisions. Bruce explains how the newly passed 'Big Beautiful Bill' "chooses billionaires over babies, and puts the nation's children in unprecedented peril." Here are just a few ways that the new law will hurt the nation's children:  Cuts $1 trillion from Medicaid and CHIP: Medicaid and CHIP provide health insurance to over 37 million children in the United States and Medicaid covers nearly 40% of births. H.R.1 includes the largest funding cuts to these programs in their history and creates administrative burdens, such as lock-out periods and work requirements.  Defunds the largest child anti-hunger program: One-in-five children experience food insecurity. This bill cuts food assistance by cutting more than $200 billion from SNAP and places a larger cost share burden on states. This cost shift could cause states to end their programs or limit enrollment. Advocates argue that losing SNAP benefits could also impact free school meals, further risking a rise in child hunger. Leaves children behind in tax policy: This legislation offers an inadequate Child Tax Credit. While some will see an increased credit amount, the increase still fails to keep pace with inflation. Even worse, the new structure keeps more than 20 million children from receiving the full credit and blocks 2.6 million kids from receiving any credit at all. Undermines public schools: H.R.1 creates a new tax benefit for wealthy donors that jeopardizes the future of our public schools. This education voucher tax credit will offer 2-3x the benefit of other non-profit donations, incentivizing donations over other organizations. It is important to note research shows vouchers do not improve academic outcomes and disproportionately benefit families who already send their children to private schools. Threatens the child care workforce: There is already a child care shortage in the country. H.R.1 will make it harder to recruit and train new child care professionals by prohibiting the use of federal student loans for sectors that do not earn over the median high school graduate salary. We must further invest in this profession and work to increase pay for providers, not create additional barriers to building a strong child care workforce. Increases funding for family separation: H.R. 1 dramatically raises funding for immigration enforcement. This funding will lead to increased family separation and detention. These immigration practices disrupt entire communities and are known to create childhood trauma, adversely affecting child health and development. Cancels efforts to address the climate crisis: H.R. 1 eliminates investments in solar and renewable energy leaving our children to deal with greater effects of climate change in the future. This measure comes as kids are experiencing adverse environmental health effects and natural disasters. Forces kids to shoulder our ballooned national debt: H.R. 1 drives up the national debt by $3 trillion in order to give tax breaks to billionaires and industries like gun manufacturers. This bill expects our children to shoulder the cost of these tax breaks when they become adults while stripping them of essential services today.  The website for First Focus on Children is FirstFocus.org and their handle on BlueSky is @FirstFocus.bsky.social.  Bruce's handle there is @BruceLesley.bsky.social. 

Leslie is joined by Bruce Lesley, President of First Focus on Children, a bipartisan advocacy organization working to make children the priority in federal policy and budget decisions. Bruce explains how the newly passed 'Big Beautiful Bill' "chooses billionaires over babies, and puts the nation's children in unprecedented peril." Here are just a few ways that the new law will hurt the nation's children:  Cuts $1 trillion from Medicaid and CHIP: Medicaid and CHIP provide health insurance to over 37 million children in the United States and Medicaid covers nearly 40% of births. H.R.1 includes the largest funding cuts to these programs in their history and creates administrative burdens, such as lock-out periods and work requirements.  Defunds the largest child anti-hunger program: One-in-five children experience food insecurity. This bill cuts food assistance by cutting more than $200 billion from SNAP and places a larger cost share burden on states. This cost shift could cause states to end their programs or limit enrollment. Advocates argue that losing SNAP benefits could also impact free school meals, further risking a rise in child hunger. Leaves children behind in tax policy: This legislation offers an inadequate Child Tax Credit. While some will see an increased credit amount, the increase still fails to keep pace with inflation. Even worse, the new structure keeps more than 20 million children from receiving the full credit and blocks 2.6 million kids from receiving any credit at all. Undermines public schools: H.R.1 creates a new tax benefit for wealthy donors that jeopardizes the future of our public schools. This education voucher tax credit will offer 2-3x the benefit of other non-profit donations, incentivizing donations over other organizations. It is important to note research shows vouchers do not improve academic outcomes and disproportionately benefit families who already send their children to private schools. Threatens the child care workforce: There is already a child care shortage in the country. H.R.1 will make it harder to recruit and train new child care professionals by prohibiting the use of federal student loans for sectors that do not earn over the median high school graduate salary. We must further invest in this profession and work to increase pay for providers, not create additional barriers to building a strong child care workforce. Increases funding for family separation: H.R. 1 dramatically raises funding for immigration enforcement. This funding will lead to increased family separation and detention. These immigration practices disrupt entire communities and are known to create childhood trauma, adversely affecting child health and development. Cancels efforts to address the climate crisis: H.R. 1 eliminates investments in solar and renewable energy leaving our children to deal with greater effects of climate change in the future. This measure comes as kids are experiencing adverse environmental health effects and natural disasters. Forces kids to shoulder our ballooned national debt: H.R. 1 drives up the national debt by $3 trillion in order to give tax breaks to billionaires and industries like gun manufacturers. This bill expects our children to shoulder the cost of these tax breaks when they become adults while stripping them of essential services today.  The website for First Focus on Children is FirstFocus.org and their handle on BlueSky is @FirstFocus.bsky.social.  Bruce's handle there is @BruceLesley.bsky.social.  (Image Credit: J. Scott Applewhite / AP)

#podcast #politics #Michigan #Progressives #Democrats #Women #Birth #Economy #Family #WorkingClass #ChildTaxCredit #PaidSickLeave #MAGA #MAGAMurderBudget #ChildCare #LeftOfLansing Here's the Left of Lansing "Friday Short" for June 6, 2025. Bridge Michigan's Astrid Cole wrote an expose on the number of Michigan adults who are choosing to not have kids. These Michigan adults are trending with other adults across the nation who are choosing NOT to start a family. But the reasons shouldn't be that surprising since MAGA Republicans care more about investing in Elon Musk and Betsy Devos rather than the nation's children! Please, subscribe to the podcast, download each episode, and give it a good review if you can! leftoflansing@gmail.com Left of Lansing is now on YouTube as well! leftoflansing.com NOTES: "Michigan wants to grow its population, but more adults say no thanks to kids." By Astrid Cole of Bridge Michigan "Millions of U.S. kids could lose the Child Tax Credit under GOP budget bill, experts say." By Aimee Picchi of CBS News

Aaron McIntire covers the fallout from the Boulder terror attack by Mohamed Sabry Soliman, with Trump and Attorney General Pam Bondi vowing to deport the Egyptian national and prosecute anti-Semitic violence. Senate Majority Leader John Thune warns of a $2.6 trillion tax hike if the “big, beautiful bill” fails, while the Washington Post baffles over a “mysterious” fentanyl drop at the secured border. Democrats struggle to connect with young men, as Nate Silver's data reveals conservatives dominate among those with strong mental health, hinting at a spiritual divide.   news, politics, Aaron McIntire, Mohamed Sabry Soliman, Boulder attack, terrorism, illegal immigration, Donald Trump, Pam Bondi, hate crime, deportation, John Thune, big beautiful bill, tax increase, child tax credit, Washington Post, fentanyl, border security, Axios, economy, optimism, ICE, masks, doxxing, Moderna, COVID vaccine, Mount Etna, volcano, global warming, Steve Milloy, Tim Walz, young men, Nate Silver, mental health, spiritual battle, current events  

Trump's new tax bill is here — and it's being called the most sweeping tax reform since the 2017 Tax Cuts and Jobs Act. In this episode, we break down exactly what's in the bill, how it affects your taxes, and what it could mean for your future.Whether you're a middle-class family, small business owner, senior, or service industry worker, this episode gives you a clear and engaging walkthrough of the tax changes — from permanent tax cuts to MAGA accounts for kids, a bigger child tax credit, and tax-free overtime and tips. We'll also cover the controversial cuts to Medicaid, SNAP, and EV tax credits, plus what might change in the Senate.This episode is designed to help you understand the real-world impact of the bill — the good, the bad, and the unknown. If you want to stay informed, avoid the spin, and make sense of how this legislation could affect your wallet, this is the episode you don't want to miss.Topics include:o Extension of TCJA tax cutso No federal tax on tips and overtime payo MAGA accounts for children under 8o Increased standard and senior deductiono Child Tax Credit raised to $2,500o SALT deduction cap increasedo EV tax credit repealo Cuts to Medicaid, SNAP, and Planned Parenthoodo Estate and small business tax changeso What the Senate might changeMake sure to like, comment, and subscribe for more in-depth analysis of how policy changes affect you and your money.Articles Referenced: https://bipartisanpolicy.org/explainer/whats-in-the-2025-house-republican-tax-bill/**Support the Stream By Shopping at Our Store** Buy Your Financial Mirror Gear: https://www.thefinancialmirror.org/shop YouTube: https://www.youtube.com/@thefinancialmirrorRumble: https://rumble.com/TheFinancialMirrorFacebook: https://www.facebook.com/thefinancialmirr0rX: https://twitter.com/financialmirr0rInstagram: https://www.instagram.com/thefinancialmirror/Podcast: https://creators.spotify.com/pod/show/thefinancialmirrorIf you are in need of a Financial Coach, don't waste another day of being in debt, not planning for retirement, or simply wondering where your money went each month. Today is the day to take control of your finances and I can help, no issue is too big or too small. Contact me at https://www.thefinancialmirror.org/#TrumpTaxBill2025 #TaxReform #MAGAAccounts #OneBigBeautifulBill #NoTaxOnTips #ChildTaxCredit #StandardDeduction #EstateTax #SmallBusinessRelief #EVTaxCredit #MedicaidCuts #SNAPReform #TaxPolicy #ConservativeFinance #USPolitics

 Santi: Hi, this is a special episode of Statecraft. I've got a wonderful guest host with me today. Kyla Scanlon: Hey, I'm Kyla Scanlon! I'm the author of a book called In This Economy and an economic commentator. Santi: Kyla has joined me today for a couple reasons. One, I'm a big fan of her newsletter: it's about economics, among many other things. She had a great piece recently on what we can learn from C.S. Lewis's The Screwtape Letters, which is a favorite book of mine.Kyla's also on today because we're interviewing Wally Adeyemo, who was the Deputy Secretary of the Treasury in the Biden administration. We figured we each had questions we wanted answered.Kyla: Yeah, I've had the opportunity to interview Wally a couple times during the Biden administration, and I wanted to see where he thinks things are at now. He played a key role in implementing the Inflation Reduction Act, financial sanctions on Russia, and a whole bunch of other things.Santi: For my part, I'm stuck on Wally's role in setting up the IRS's Direct File program, where you can file your taxes for free directly through the IRS instead of paying TurboTax a hundred bucks to do it. “Good governance types” tend to love Direct File, but the current admin is thinking of killing it. I wanted to understand how the program got rolled out, how Wally would respond to criticisms of the program, and what he learned from building something in government, which now may disappear.Kyla, you've talked to Wally before. How did that conversation go? Kyla: I actually was able to go to his office in D.C., and I talked to a couple of key people in the Biden administration: Jared Bernstein, the former chair of the CEA, and Daniel Hornung, who was at the National Economic Council.We're talking to Wally on the day that the House passed the one big beautiful bill. There's also so much happening financially, like the bond market is totally rebelling against the US government right now. I'm really curious how he thinks things are, as a key player in the last administration.Santi: Wally, you've spent most of your career in Democratic Party institutions. You worked on the Kerry presidential campaign in 2004. You served in the Obama admin. You were the first chief of staff to the CFPB, the president of the Obama Foundation, and, most recently, Deputy Treasury Secretary in the Biden admin.30,000ft question: How do you see the Democratic Party today?My view is that we continue to be the party that cares deeply about working-class people, but we haven't done a good job of communicating that to people, especially when it comes to the things that matter most to them. From my standpoint, it's costs: things in America cost too much for a working-class family.I want to make sure I define working class: I think about people who make under $100,000 a year, many of whom don't own homes on the coast or don't own a significant amount of stocks (which means they haven't seen the asset appreciation that's led to a great deal of wealth creation over the last several decades). When you define it that way, 81% of Americans sit in that category of people. Despite the fact that they've seen their median incomes rise 5-10% over the last five years, they've seen the cost of the things they care about rise even faster.We haven't had a clear-cut agenda focused on the standard of living, which I think is the thing that matters most to Americans today.Santi: There are folks who would say the problem for Democrats wasn't that they couldn't communicate clearly, or that they didn't have a governing agenda, but that they couldn't execute their agenda the way they hoped to in the time available to them. Would you say there's truth to that claim?Most people talk about a communications issue, but I don't think it's a communications issue. There are two issues. One is an implementation issue, and the second is an issue of the actual substance and policy at the Treasury Department. I was the deputy secretary, but I was also the Chief Operating Officer, which meant that I was in charge of execution. The two most significant domestic things I had to execute were the American Rescue Plan, where $1.9 trillion flowed through the Treasury Department, and the Inflation Reduction Act. The challenge with execution in the government is that we don't spend a lot on our systems, on making execution as easy as possible.For example, the Advanced Child Tax Credit was intended to give people money to help with each of their children during the pandemic. What Congress called on us to do was to pay people on a monthly basis. In the IRS system, you pay your taxes mostly on an annual basis, which meant that most of our systems weren't set up to pay a monthly check to Americans. It took us a great deal of work to figure out a way to recreate a system just to do that.We've underinvested in the systems that the IRS works on. The last time we made a significant investment in the IRS's digital infrastructure was the 1960s; before we had an ATM machine, before we sent a man to the moon, before we had a personal computer. So that meant that everything was coded in a language called COBOL.So execution was quite hard in the American Rescue Plan. People were left out and felt that the government wasn't working for them. If you called the IRS, only 13% of your calls were being answered. We got that back up to 85% before we left. Ultimately, I think part of this is an execution challenge. In government we want to spend money coming up with new policies, but we don't want to pay for execution, which then means that when you get the policy passed, implementation isn't great.When Jen Pahlka was on your show, she talked about the need to focus on identifying the enablers to implementation. Direct File was one of the best examples of us taking implementation very seriously.But also, on some policy issues that mattered most to Americans, we weren't advancing the types of strategies that would've helped lower the cost of housing and lowering the cost of medicine. We did some things there, but there's clearly more that we could have done, and more we need to do going forward to demonstrate that we're fighting to bring down those costs. It's everything from permitting reform — not just at the federal level, but what can we do to incentivize it at the state and local level — to thinking about what we can do on drug costs. Why does it cost so much more to get a medicine in America than in Canada? That is something that we can solve. We've just chosen not to at the federal level.At the end of the year, we were going to take action to go after some of the middlemen in the pharmacy industry who were taking out rents and large amounts of money. It dropped out of the bill because of the negotiations between the Republican Congress and then President-elect Trump. But there are a lot of things that we can do both on implementation, which will mean that Americans feel the programs that we're passing in a more effective way, and policy solutions that we need to advance as a party that will help us as well.Kyla: Some people think Americans tend to vote against their own self-interest. How can your party message to people that these sorts of policies are really important for them?Ultimately, what I found is that most people just understand their self-interest differently, and for them, a big part of this was, “Who's fighting for me on the issues that I care most about?”From my standpoint, part of the problem we had with Direct File, which I think was an innovative solution, was that we got to implementing it so late in the administration that we didn't have the ability for it to show the impact. I'm hoping future administrations will think through how to start their implementation journey on things like Direct File sooner in the administration, when you have a great deal of political capital, so people can actually feel the impact over time.To your question, it's not just about the messaging, it's about the messenger. People tend to trust people who look like them, who come from the places they come from. When it came to the Child Tax Credit and also to Direct File, the biggest innovation wasn't the technology: the technology for Direct File has been used by the Australians, the British, and other countries for decades.The biggest innovation was us joining that technology with trusted people in communities who were going out to talk to people about those programs and building those relationships. That was something that the IRS hadn't done a great deal of. We invested a great deal in those community navigators who were helping us get people to trust the things the government was doing again, like the Child Tax Credit, like Direct File, so that they could use it.We often think that Washington is going to be able to give messages to the country that people are going to hear. But we're both in a more complicated media environment, where people are far more skeptical of things that come from people in Washington. So the best people to advocate for and celebrate the things that we're doing are people who are closer to the communities we're trying to reach. In product advertising today, more companies are looking to influencers to advertise things, rather than putting an ad on television, because people trust the people that they follow. The same is true for the things that we do in government.Santi: I've talked to colleagues of yours in the last administration who say things like, “In the White House, we did not have a good enough sense of the shot clock.” They point to various reasons, including COVID, as a reason the admin didn't do a good enough job of prioritization.Do you think that's true, that across the administration, there was a missing sense of the shot clock or a missing sense of prioritization? No, because I'm a Lakers fan. These are professionals. We're professionals. This is not our first rodeo. We know how much time is on the shot clock; we played this game. The challenge wasn't just COVID. For me at Treasury — and I think this is the coolest part of being Deputy Secretary of the Treasury — I had responsibilities domestic and international. As I'm trying to modernize the IRS, to invest all my time in making the system work better for customers and to collect more taxes from the people who owe money, Russia invades Ukraine. I had to turn a bunch of my attention to thinking about what we were going to do there. Then you have Hamas attacking Israel.There was more we should have done on the domestic end, but we have to remember that part of the presidency is: you get to do the things you want to do, but you also have to do the things you have to do. We had a lot of things we had to do that we weren't planning for which required all-of-the-administration responses.I think the most important lesson I've learned about that is that it comes down to both being focused on the things that matter, and being willing to communicate to the American people why your priorities have to change in light of things that happen in the world.But the people I'm sure you've talked to, most of them work on domestic policy alone, and they probably never have been in a National Security Council meeting, where you're thinking about the risks to the country. The president has to do both of those things. So I get how difficult it is to do that, just given where I sat at the Treasury Department.Santi: Looking back from an implementation perspective, are there things you would've done differently during your time at Treasury?The most important thing that I would've done differently was to immediately set up a permanent implementation and delivery unit in the Treasury Department. We always like to pretend like the Treasury Department is just a policy department where we make policy, we collect taxes. But in any crisis the country ever has, a great deal of responsibility — for execution or implementation of whatever the response is — falls to the Treasury Department. Think about the financial crisis, which is clearly something that's in the Treasury's domain. The vast majority of money for COVID flowed through the Treasury Department. You think about the IRA, a climate bill: the vast majority of that money flows through the Treasury Department.And Treasury doesn't have a dedicated staff that's just focused on implementation: How do we do this well? How do we make sure the right people are served? How do we make sure that we communicate this well? We did this to a degree by a team that was focused on the American Rescue Plan. But it was only focused on the American Rescue Plan. If I could start again, I would have said, “I want a permanent implementation structure within the Treasury Department of people who are cross-cutting, who only think about how we execute the policies that we pass through Congress and that we put together through an executive order. How do we do that extremely well?”Kyla: What you're talking about is very people-centric: How do we get an implementation team, and how do we make sure that the right people are doing the right jobs? Now we have DOGE, which is less people-centric. How do you reconcile what Doge is doing relative to what you would've done differently in this role that you had?As you would suspect, I wasn't excited about the fact we had lost the election, but initially I thought DOGE could be helpful with technology. I think marrying technology with people — that's the key to success for the government. We've never really been great at doing technology in the government.Part of the reason for that is a procurement process that is very slow because of how the federal acquisition rules work. What we are trying to do is prevent corruption and also waste, fraud, and abuse. But what that does is, it leads to slowness in our ability to get the technology on board that we need, and in getting the right people.I was hoping DOGE would bring in people who knew a great deal about technology and put us in a position where we could use that to build better products for the American people. I thought they would love Direct File, and that they would find ways to improve Direct File and expand it to more Americans.My view is that any American in the working class or middle class should not have to pay a company to file their taxes. We have the ability in this country, and I think Direct File was proving that. My goal, if we'd had more time, was to expand this to almost any American being able to use it. I thought they'd be able to accelerate that by bringing in the right people, but also the right technology. We were on that path before they took those two things apart.My sense is that you have to reform the way that we hire people because it's too hard to hire the right people. In some cases, you don't need some of the people you have today because technology is going to require different skills to do different things. It's easier to break something, I found, than it is to build something. I think that's what they're finding today as well.Santi: When I talk to left-of-center folks about the DOGE push, they tend to be skeptical about the idea that AI or modern technology can replace existing federal workers. I think some of that is a natural backlash to the extreme partisan coding of DOGE, and the fact that they're firing a lot of people very quickly. But what's your view? After DOGE, what kinds of roles would you like to see automated?Let me say: I disagree with the view that DOGE and technology can't replace some of the things that federal workers do today. My view is that “productivity enhancing” tech — it's not that it is going to make employees who are currently doing the job more productive. It is going to mean you need fewer employees. We have to be honest about that.Go to the IRS, for example. When I got there, we had a huge paper backlog at the IRS because, despite what most people think, millions of people still file their taxes by paper, and they send them to the IRS. And during the pandemic, the commissioner, who was then working for President Trump, decided to shut down the IRS for public health reasons — to make sure employees did not have to risk getting COVID.There were piles of paper backing up, so much so that they had filled cafeterias at the IRS facilities with huge piles of paper. The problem, of course, is that, unlike modern systems, you could not just machine-read those papers and put them into our systems. Much of that required humans to code those papers into the system by hand. There is no need in the 21st century for that to happen, so one of the things that we started to do was introduce this simple thing called scanning, where you would scan the papers — I know it sounds like a novel idea. That would help you get people's tax returns faster into the system, but also get checks out quickly, and allow us to see if people are underpaying their taxes, because we can use that data with a modern system. But over time, what would that mean? We'd need fewer people to enter the data from those forms.When we get money for the IRS from Congress, it is actually seen as revenue-raising because they expect it to bring down the debt and deficit, which is completely true. But the model Congress uses to do that is reliant on the number of full-time employees we hire. One challenge we have with the IRS — and in government systems in general — is that you don't get credit for technology investments that should improve your return on investment.So whenever we did the ROI calculations for the IRS, the Congressional Budget Office would calculate how much revenue we'd bring in, and it was always based on the number of people you had doing enforcement work that would lead to certain dollars coming in. So we got no credit for the technology investments. Which was absolutely the opposite of what we knew would be true: the more you invested in technology, the more likely you were to bring in more revenue, and you would be able to cut the cost of employees.Santi: If the CBO changed the way it scored technology improvements, would more Congresspeople be interested in funding technology?It is just a CBO issue. It's one we've tried to talk to them about over the last several years, but one where they've been unwilling to move. My view is that unlocking this will unlock greater investment in technology in a place like the IRS, because every dollar you invest in technology — I think — would earn back $10 in additional tax revenue we'd be able to collect from people who are skipping out on their taxes today. It's far more valuable to invest in that technology than to grow the number of employees working in enforcement at the IRS. You need both, but you can't say that a person is worth 5x their salary in revenue and that technology is worth 0. That makes no sense.Kyla: When we spoke about Direct File many months ago, people in my comment section were super excited and saying things like, “I just want the government to tell me how much money I owe.” When you think about the implementation of Direct File, what went right, and how do you think it has evolved?The thing that went right was that we proved that we could build something quite easily, and we built it ourselves, unlike many technology projects in government. We didn't go out and hire a bunch of consultants and contractors to do it. We did it with people at the IRS, but also with people from 18F and from GSA who worked in the government. We did it in partnership with a number of stakeholders outside the government who gave us advice, but the build was done by us.The reason that was important — and the reason it's important to build more things internally rather than hiring consulting firms or other people to build it — is that you then have the intellectual capital from building that, and that can be used to build other things. This was one product, but my view is that I want the IRS home page to one day look a lot more like the screen on your iPhone, so that you can click on the app on the IRS homepage that can help you, depending on what you need — if it's a Direct File, or if it's a tax transcript.By building Direct File internally, we were getting closer to that, and the user scores on the effectiveness of the tool and the ability to use it were through the roof. Even for a private sector company, it would've been seen as a great success. In the first year, we launched late in the filing season, mostly just to test the product, but also to build stakeholder support for it. In the limited release, 140,000 people used it. The average user said that before Direct File, it took them about 13 hours to file their taxes, and with Direct File, it took them just over an hour to file their taxes.But you also have to think about how much money the average American spends filing their taxes: about $200. That's $200 that a family making under $100,000 could invest in their kids, in paying some bills, rather than in filing their taxes.Even this year, with no advertising by the Trump administration of Direct File, we had more than 300,000 people use it. The user scores for the product were above 85%. The challenge, of course, is that instead of DOGE investing in improving the product — which was a place where you could have seen real intellectual capital go to work and make something that works for all Americans — they've decided to discontinue Direct File. [NB: There has been widespread reporting that the administration plans to discontinue Direct File. The GOP tax bill passed by the House would end Direct File if it becomes law. At the time of publication, the Direct File has not been discontinued.]The sad part is that when you think about where we are as a country, this is a tool that could both save people money, save people time, improve our ability to collect taxes, and is something that exists in almost every other developed economy. It makes no sense to me why you would end something like this rather than continue to develop it.Santi: People remember the failure of healthcare.gov, which crashed when it was rolled out all at once to everyone in the country. It was an embarrassing episode for the Obama administration, and political actors in that administration learned they had to pilot things and roll them out in phases.Is there a tension between that instinct — to test things slowly, to roll them out to a select group of users, and then to add users in following cycles — Is there a tension between that and trying to implement quickly, so that people see the benefit of the work you're doing?One of my bosses in the Obama administration was Jeff Zients, the person who was brought in to fix healthcare.gov. He relentlessly focused on execution. He always made the point that it's easy to come up with a strategy to some degree: you can figure out what the policy solution is. But the difference between good and great is how you execute against it. I think there is some tension there, but not as much as you would think.Once we were able to show that the pilot was a success, I got invited to states all over the country, like Maryland, to announce that they were joining Direct File the next year. These members of Congress wanted to do Direct File events telling people in their state, “This product that's worked so well elsewhere is coming to us next.” It gave us the ability to celebrate the success.I learned the lesson not just from Zients, but also from then-professor Elizabeth Warren, whom I worked for as chief of staff at the CFPB. One challenge we had at the CFPB was to build a complaint hotline, at that point mostly phone-operated, for people who were suffering. They said it would take us at least a year to build out all the product functions we need. We decided to take a modular approach and say, “How long would it take for us to build the system for one product? Let's try that and see how that works. We'll do a test.”It was successful, and we were able to use that to tell the story about the CFPB and what it would do, not just for mortgages, but for all these other products. We built user interest in the complaint hotline, in a way that we couldn't have if we'd waited to build the whole thing at once. While I think you're right that there is some tension between getting everyone to feel it right away and piloting; if the pilot is successful, it also gives you the opportunity to go out and sell this thing to people and say, “Here's what people who did the pilot are saying about this product.”I remember someone in Texas who was willing to do a direct-to-camera and talk about the ways that Direct File was so easy for them to use. It gets back to my point on message and messenger. Deputy Secretary Adeyemo telling you about this great thing the government did is one thing. But an American who looks like you, who's a nurse, who's a mom of two kids, telling you that this product actually worked for her: That's something that more people identify with.Healthcare.gov taught us the lesson of piloting and doing things in a modular way. This is what companies have been doing for decades. If it's worked for them, I think it can work for the government too.Santi: I'm a fan of Direct File, personally. I don't want this administration to kill it. But I was looking through some of the criticism that Direct File got: for instance, there's criticism about it rivaling the IRS Free File program, which is another IRS program that partners with nonprofits to help some folks file their taxes for free.Then there's this broader philosophical criticism: “I don't want the feds telling me how much I owe them.” The idea is that the government is incentivized to squeeze every last dollar out of you.I'm curious what you make of that, in part because I spoke recently to an American who worked on building e-government systems for Estonia. One of the things that has allowed Estonia to build cutting-edge digital systems in the government is that Estonia is a small and very high-trust society. Everybody's one degree of separation from everybody else.We're a much bigger and more diverse country. How do you think that affects the federal government's ability to build tools like Direct File?I think it affects it a lot, and it gets back to my point: not just the message but the messenger. I saw this not just with Direct File, but with the Advanced Child Tax Credit, which was intended to help kids who were living in poverty, but also families overall. What we found initially in the data was that, among families that didn't have to file taxes because they made too little, many of them were unwilling to take advantage of Direct File and the Advanced Child Tax Credit because they couldn't believe the government was doing something to just help them. I spent a lot of time with priests, pastors, and other community leaders in many of the communities where people were under-filing to try and get them to talk about this program and why it was something that they should apply for.One of the challenges we suffer from right now in America, overall, is a lack of trust in institutions. You have to really go local and try to rebuild that trust.That also speaks to taking a pilot approach that goes slower in some cases. Some of the criticism we got was, “Why don't you just fill out this form for us and then just send it to us, so that Direct File is just me pressing a button so I can pay my taxes?”Part of the challenge for us in doing that is a technology challenge: we are not there technologically. But the other problem is a trust problem. If I were to just fill out your taxes for you and send them to you, I think people, at this stage, would distrust the government and distrust the technology.Direct File had to be on a journey with people, showing people, “If I put in this information, it accurately sends me back my check.” As people develop more trust, we can also add more features to it that I think people will trust. But the key has to be: how do you earn that trust over time?We can't expect that if we put out a product that looks like something the Estonian government or Australia would put out, that people would trust it at this point. We have to realize that we are on a journey to regain the trust of the American people.The government can and will work for them, and Direct File was a part of that. We started to demonstrate that with that product because the people who used it in these communities became the spokespeople for it in a better way than I ever could be, than the Secretary or the President could be.Everyone knows that they need to pay their taxes because it's part of their responsibility living in this country. The things that make people the most upset is the fact that there are people who don't pay their taxes. We committed that we were going to go after them.The second frustration was: “Why do you make it so hard for me to pay my taxes? Why can't I get through to you on the phone line? Why do I have to pay somebody else to do my taxes?” Our goal was to solve those two problems by investing money and going after the people who just decided they weren't going to pay, but also by making it as easy as possible for you to pay your taxes and for most people, to get that tax refund as quickly as possible.But doing that was about going on a journey with people, about regaining their trust in an institution that mattered to them a great deal because 90 something-percent of the money that funds our government comes in through the IRS.Kyla: You have a piece out in Foreign Affairs called “Make Moscow Pay,” and what I found most interesting about that essay is that you said Europe needs to step it up because the United States won't. Talk through the role of Treasury in financial sanctions, and your reasons for writing this piece.People often think about the Treasury Department as doing a few things. One is working with Wall Street; another one is collecting your taxes. Most people don't think about the fact that the Treasury Department is a major part of the National Security Committee, because we have these tools called financial sections.They use the power of the dollar to try and change the behavior of foreign actors who are taking steps that aren't consistent with our national security interests. A great example of this is what we did with regard to Russia — saying that we're going to cut off Russian banks from the US financial system, which means that you can't transact in US dollars.The problem for any bank that can transact in dollars is that the backbone of most of the financial world is built on the US dollar. It increases their cost, it makes it more difficult for them to transact, and makes it harder for them to be part of the global economy, nearly impossible.And that's what we've done in lots of cases when it comes to Russia. We have financial sanction programs that touch all over the world, from Venezuela to Afghanistan. The US government, since 9/11, has used sanctions as one of its primary tools of impacting foreign policy. Some of them have gone well, some of them I think haven't gone as well, and there's a need for us to think through how we use those policies.Santi: What makes sanctions an effective tool? Positions on sanctions don't line up neatly on partisan lines. Sanctions have a mixed track record, and you'll have Republicans who say sanctions have failed, and you'll have Democrats say sanctions have been an effective tool, and vice versa.The way I think about sanctions is that they are intended to bring change, and the only way that they work is that they're part of an overarching foreign policy strategy. That type of behavior change was what we saw when Iran came to the table and wanted to negotiate a way to reduce sanctions in exchange for limits on their nuclear program. That's the type of behavior change we're trying to accomplish with sanctions, but you can't do it with sanctions alone. You need a foreign policy strategy. We didn't do it by the United States confronting Iran; we got our allies and partners to work together with us. When I came into office in 2021, Secretary Yellen asked me to do a review of our sanctions policies — what's worked, what hasn't — because it had been 20 years since the 9/11 attacks.And the most important lesson I learned was that the sanctions programs that were the most effective were the ones we did on a multilateral basis — so we did it with our friends and allies. Part of the reason for this is that while the dollar is the most dominant currency around the world, oftentimes if you can't do something in dollars, you do it in a euro, or you do it in a Japanese yen, or pound sterling.The benefit of having allies all over the world is that the dominant, convertible currencies in the world are controlled by allies and partners. When we acted together with them, we were more effective in curtailing the economic activity of our adversary, and our pressure is more likely to lead to them changing their behavior.We had to be very cautious about collateral damage. You might be targeting an individual, but by targeting that individual, you might make it harder for a company they're affiliated with to continue doing business, or for a country that they're in to get access to banking services. Let's say that you're a huge bank in America, and you're worried about sanctions risk in a small country where you do little business. Why not pull out, rather than having to put in place a huge compliance program? One of the challenges that we have is that the people who make the decisions about whether to extend sanctions don't necessarily spend a lot of time thinking about some of these economic consequences of the sanctions approach.Whenever I was around the table and we were making a decision about using weapons, there was a process that was very elaborate that ended up with something going to the president. You'd often think about kinetic force very seriously, because you were going to have to get the president to make a decision. We didn't always take that kind of rigor when it came to thinking about using our sanctions policy, but the impact on the lives of people in these countries was just as significant for their access to not only money, but to food and to the resources they needed to live.Santi: What do you make of the effectiveness of the initial sanctions on Russia after the invasion of Ukraine? I've heard mixed reviews from folks inside and outside the Biden administration.Sanctions, again, to my point, are only a tool. They've had to be part of a larger strategy, and I think those sanctions were quite effective. I think the saving grace for the Russians has been the fact that China has largely been able and willing to give them access to the things they need to continue to perpetuate.There was a choice for Ukraine, but when you think about Russia's economy today vs. Russia's economy before the sanctions were put in place, it's vastly different. Inflation in Russia still runs far higher than inflation anywhere else in the world. If you were a Russian citizen, you would feel the impacts of sanctions.The challenge, of course, is that it hasn't changed Vladimir Putin's behavior or the behavior of the Kremlin, largely because they've had access to the goods and supplies they need from China, Iran, and North Korea. But over time, it means Russia's economy is becoming less competitive. They have less access to resources; they're going to struggle.I think everyone hoped that sanctions would immediately change the calculus of the Kremlin, but we've never seen that to be the case. When sanctions are effective, they take time, because the economic consequences continue to compound over time, and they have to be part of a larger strategy for the behavior of the individual. That's why I wrote the article, because while the Kremlin and Russia are under pressure, their view is that ultimately the West is going to get tired of supporting Ukraine, financially and politically, because the economic consequences for us — while not as significant as for Moscow or for Kiev — have been quite significant, when you think about the cost of living issues in Europe.I think it's important to write this now, when it appears that Russia is stalling on negotiations, because ultimately, US financial support is waning. We just know that the Trump administration is not willing to put more money into Ukraine, so Europe is going to have to do more, at a time when their economic situation is quite complicated as well.They've got a lot to do to build up their economy and their military-industrial base. Asking them to also increase their support for Ukraine at the same time is going to be quite difficult. So using this money that Russia owes to Ukraine — because they owe them compensation at this moment — can be quite influential in helping support the Ukrainians, but also changing Russia's calculus with regard to the ability of Ukraine to sustain itself.Kyla: On CNBC about a month ago, you said if we ever have a recession over the next couple of months or so, it would be a self-inflicted one. Do you still resonate with that idea? To build on the point I was making, the economy has done quite well over the course of the first few months of the year, largely because of the strength of the consumer, where our balance sheets are still quite strong. Companies in America have done well. The biggest headwind the US economy faces has been self-inflicted by the tariffs the president has put on. Part of what I still do is talk to CEOs of companies, big and small. Small businesses feel the impact of this even more than the big businesses. What they tell me is that it's not just the tariffs and the fact that they are making it more expensive for them to get the goods that they need, but it's the uncertainty created by the off-again, on-again, nature of those tariffs that makes it impossible for them to plan for what supplies they're going to get the next quarter. How are they going to fulfill their orders? What employees are they going to need? It's having a real impact on the performance of these companies, but also their ability to hire people and plan for the future.If you go to the grocery store, you're going to start seeing — and you're starting to see already — price increases. The thing that Americans care most about is, the cost of living is just too high. You're at the grocery store, as you're shopping for your kids for the summer, you're going to see costs go up because of a self-imposed tax we've put in place. So I still do think that if we do find ourselves in a recession, it's going to be because of the tariffs we've put in place.Even if we don't enter a technical recession, what we're seeing now is that those tariffs are going to raise the cost for people when they go out to buy things. It's going to raise the cost of building homes, which is going to make it harder for people to get houses, which is ultimately going to have an impact on the economy that isn't what I think the president or anyone wants at this point.Kyla: Is there anything else we haven't asked about? I think the place where we continue, as a country, to struggle is that, given the federal system we have, many of these problems aren't just in Washington — they're in state and local governments as well. When you think about the challenges to building more housing in this country, you can't just solve it by doing things at the federal level. You have to get state and local governments unified in taking a proactive approach. Part of this has to be not just financial or regulatory from the federal government, but we have to do more things that force state and local governments to get out of the way of people being able to build more housing. I think that the conversations that you've had on your show, and the conversations we're having in government, need to move past our regular policy conversations of: “Should we do more on LIHTC? Should we try to fix NEPA?” Those, to me, are table stakes, and we're in the middle of what I'd say is a generational crisis when it comes to housing. We have to be willing to treat it like a crisis, rather than what I think we've done so far, which is take incremental steps at different levels to try and solve this. That's one thing that I wanted to make sure that I said, because I think it's the most important thing that we can do at the moment.Kyla: Absolutely. During your time there, the Treasury was doing so much with zoning reform, with financial incentives. What I really liked about our last conversation was how much you talked about how important it is that workers can live close to work. Are you optimistic that we will be able to address the problem, or do you think we are sinking into quicksand?I'd say a little bit of both, and the thing that I'm doing now is getting hyperlocal. One of the projects I'm working on in my post-administration life is I'm working with 15 churches in D.C., where they have vacant land and want to use it to build affordable housing as quickly as possible.I'm learning that even when you have the land donated for free and you're willing to work as quickly as possible, it's still quite hard because you have regulations and financial issues that often get in the way of building things. Part of what we have to do now is just launch as many natural experiments as possible to see what works.What I've learned already from this lived experience is that even cities that are trying to get out of the way and make it easier to build housing struggle because of what you all know to be true, which is that the local politics of this is quite complicated. Oftentimes, the way that you get them over the line is by creating incentives or disincentives.In the past, I talked a lot about incentives in terms of “giving people money to do things.” I'm now in favor of “not giving money to people who don't do things” — if you don't take steps to fix your zoning, some of the federal money that you regularly get is not coming to your jurisdiction. I'm going to reallocate that money to places that are doing this activity. I think we have to take those types of radical steps.It's similar to what we did with the Emergency Rental Assistance Program, where if you didn't spend your money, we could take your money back and reallocate it to people who were giving away emergency rental assistance money.That motivates people a lot — when they feel like something's going to be taken away from them. I'm of the view that we have to find more radical things that we can do to get housing built. If we don't, costs will continue to rise faster than people's incomes.Santi: Wally, I have to ask after that point you just made: did you read the paper by my colleague Chris Elmendorf on using LIHTC funds? The idea is to re-allocate those federal funds away from big, expensive cities and into other places in a state, if the cities don't commit to basic zoning reforms.I completely agree with him, and I think I would go even further than just LIHTC money. I would reallocate non-housing money as well, because from my standpoint, if you think about the most important issue for a family, it's being able to find housing that is affordable near their place of work and where their kids go to school. I said that on purpose. I didn't say “affordable housing.” I said “housing that is affordable,” because affordable housing is, in lots of ways, targeted towards a population of people who need it the most. But for even people who are middle income in this country, it crowds out their ability to pay for other things when housing costs continue to creep higher.The only way we solve that problem is if you get rid of restrictive zoning covenants and fix permitting. The natural thing that every city and state is thinking about right now is throwing more money at the problem. There's going to need to be money here, just in light of some of the headwinds, but it's going to be more costly and less effective if we don't fix the underlying issues that are making it hard to build housing where we want it.Right now in California, we're having a huge debate over what we do with infill housing in urban areas. A simple solution — you don't have to do another environmental review if one was already done in this area— is taking months to work through the California legislature, which demonstrates that we're going too slow. California's seeing an exodus of people. I just talked to a CEO who said, “I'm moving my business because the people who work for me can't afford to live in California anymore.” This is the kind of problem that you can solve. State legislatures, Congress, and executives have to get together and take some radical steps to make it easier to build housing.I appreciate what you said about what we were doing at Treasury, but from my standpoint, I wish we had done more earlier to focus on this issue. We had a lot going on, but fundamentally, the most important thing on housing is taking a step to try and build housing today, which is going to have an impact on the economy 10, 20, 30 years from now. We just have to start doing that as soon as possible.Thanks to Emma Hilbert for her transcript and audio edits. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.statecraft.pub

Find us at www.crisisinvesting.com In this episode, we return from a week off to discuss the latest political and economic happenings. They delve into the One Big Beautiful Bill Act that has been passed by the House, although not yet by the Senate. Highlights of the bill include permanent tax cuts, adjustments in the child tax credit, and increased defense spending. The conversation also covers Elon Musk's struggles with government cuts, the convoluted student loan system, and the rise of AI regulations. With in-depth analysis, they discuss the geopolitical tensions involving Russia and Ukraine, and Israel and Iran. Additionally, they explore the intricacies of the Golden Dome defense project, rising cyber attacks, and the concerning state of mining companies in the market. The episode concludes with discussions on nonprofit oversight, the controversial portrait of Donald Trump on a government building, and notable figures like Rahm Emanuel considering a presidential run. 00:00 Introduction and Weekly Recap 00:05 Overview of the OBA Bill 00:20 Permanent Tax Cuts and Deficit Concerns 01:14 Doge Provisions and Musk's Resignation 03:55 Child Tax Credit and SALT Deduction Cap 05:11 Tax Exemptions and Trump's Savings Accounts 07:08 Debt Ceiling Increase and Financial Concerns 08:22 Healthcare and Social Services Reforms 12:16 Student Loan Policy and Education Costs 14:27 Defense Spending and Border Security 17:37 AI Regulation Moratorium and Green Energy Rollbacks 18:36 IRS Direct File Program Termination 20:28 University Endowment Tax and Nonprofit Oversight 24:28 National Debt Increase and Senate Opposition 25:59 Trump's Megalomania and Public Image 29:12 Rahm Emanuel's Presidential Ambitions 30:29 Kanye West's Cancellation and Comeback 31:26 Dual Citizenship in High Government Positions 32:19 Trump's Control and Indictments 33:35 Epstein's Death and FBI's Response 35:54 Washington Post's Book Recommendations 38:49 Golden Dome and Modern Warfare 41:12 Cyber Attacks and Global Tensions 49:03 Israel-Iran Conflict 56:04 Mining Stocks and Market Trends 01:00:26 Conclusion and Upcoming Topics

In this episode of Passing Judgment, Jessica Levinson talks with Wall Street Journal tax reporter Richard Rubin to break down the GOP's "big beautiful" tax bill. Richard explains what's in the bill—from tax cuts and increases to spending shifts—and who will be most affected if it passes. They discuss how the bill squeaked through the House, the major sticking points, and what's likely to change as it moves to the Senate. Join us for a clear, accessible look at what's inside the bill and how it could impact Americans' wallets and the federal deficit.Here are three key takeaways you don't want to miss:What's Inside the GOP Tax Bill: The bill primarily extends the 2017 tax cuts, including a higher standard deduction, lower rates, and business relief, while adding temporary cuts like a boosted child tax credit and tip or overtime exemptions. To offset costs, it includes tax hikes, mainly on clean energy and high earners, major cuts to Medicaid and SNAP, and increased spending on border security and defense.How “Typical” is This GOP Bill?: Richard describes it as a “mishmash”—there are conventional GOP elements (like tax cuts for the affluent), but also some Trump-specific provisions, like the “Trump account” (a new children's savings account), faster write-offs for American factories, and anti-immigration measures.The Path Forward in the Senate: Richard explains that the Senate will likely alter the House version, focusing on issues like Medicaid changes and clean energy tax credits.Follow Our Host and Guest: @RichardRubinDC @LevinsonJessica

Did you know that the median retail investor spends only six minutes researching a stock before buying it? Most of that time is spent staring at a price chart—often just the current day's movement. Nick compares the limited “research” many individual investors conduct to the extensive analysis performed by Henssler's research analysts.K.C. then takes a closer look at the “One Big Beautiful Bill” that passed the House of Representatives just hours before we recorded. We discuss the revised State and Local Tax (SALT) deduction cap, the increased Child Tax Credit, and the proposed tax break on tip income. While the bill's fate in the Senate remains uncertain, it appears that many of Trump's 2017 tax cuts may be extended.Last Friday, after the market closed, Moody's became the third major credit rating agency to downgrade the U.S. government's debt rating. The cut comes at a time when global confidence in U.S. debt is wavering, and Congress is debating a tax bill that could further increase the national debt. We examine what this downgrade means and whether it reflects actual investment risk.After the break, D.J. breaks down Health Savings Accounts (HSAs) and explains why they're one of the most powerful tools for saving money—thanks to their unique triple tax benefit. While many people use HSAs to pay for health-care expenses as they arise, there are compelling advantages to covering those costs from other funds and allowing the HSA to accumulate, benefiting from tax-deferred growth over time.Join hosts Nick Antonucci, CVA, CEPA, Director of Research, and Managing Associates K.C. Smith, CFP®, CEPA, and D.J. Barker, CWS®, and Kelly-Lynne Scalice, a seasoned communicator and host, on Henssler Money Talks as they explore key financial strategies to help investors navigate market uncertainty.Henssler Money Talks — May 24, 2025  |  Season 39, Episode 21Timestamps and Chapters4:38: Impulse Investors26:31: House Approves One Big Beautiful Bill33:06: Moody's Downgrade39:50: Economic News45:37: HSAs: Triple Tax BenefitFollow Henssler:  Facebook: https://www.facebook.com/HensslerFinancial/ YouTube:  https://www.youtube.com/c/HensslerFinancial LinkedIn: https://www.linkedin.com/company/henssler-financial/ Instagram: https://www.instagram.com/hensslerfinancial/ TikTok: https://www.tiktok.com/@hensslerfinancial?lang=en X: https://www.x.com/hensslergroup  “Henssler Money Talks” is brought to you by Henssler Financial. Sign up for the Money Talks Newsletter: https://www.henssler.com/newsletters/ 

Breaking news! A massive tax bill just dropped, and I've spent 48 hours digging through all 389 pages so you don't have to! This game-changing bill could put thousands back in your pocket with 18 major tax changes including: • Tax-free tips and overtime pay for service workers • A bigger Child Tax Credit ($2,500 per child!) • New "MAGA Accounts" with a $1,000 bonus for babies born in 2025-2026 • Triple the SALT deduction cap ($30,000 instead of $10,000) • Permanent business tax breaks that were set to expire Whether you're a server, parent, business owner, or retiree - there's something in this bill for you! I break down exactly who benefits, who doesn't, and most importantly - what you need to do RIGHT NOW to take advantage of these changes before they expire. Don't miss this urgent episode that could save you thousands in taxes!   Next Steps:

Thanks to our partner PromotiveIn this episode of Business by the Numbers, Hunt Demarest, CPA of Paar Melis and Associates, explores the details behind what former President Trump is calling the "largest tax cut in U.S. history." What's actually in the proposed bill? Will any of it pass Congress? And most importantly, what could it mean for auto repair shop owners and other small business operators?Hunt unpacks what we know so far, what's still uncertain, and how business owners can start thinking strategically. From potential expansions of the Child Tax Credit and QBI deduction to the controversial proposals of eliminating taxes on tips, overtime, and Social Security, this episode covers the key elements that matter most.Whether you're looking to stay informed or proactively plan for future changes, this episode offers a grounded look at what's on the table—and what's likely to be left off.Key Takeaways:What's included in the proposed 2025 tax cut and what's still up for debateThe current status of the Child Tax Credit, QBI deduction, bonus depreciation, and SALT deduction capPotential elimination of taxes on Social Security income—and whether that's realisticA breakdown of the proposed “Millionaire Tax” and its implications for high earnersWhy the talk of tax-free tips and overtime could create major planning opportunities for business ownersWhat shop owners need to watch for and how to prepare as legislative discussions continueThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comText Paar Melis @ 301-307-5413Download a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/Diagnosing the Aftermarket A to Z with Matt Fanslow

Thanks to our partner PromotiveIn this episode of Business by the Numbers, Hunt Demarest, CPA of Paar Melis and Associates, explores the details behind what former President Trump is calling the "largest tax cut in U.S. history." What's actually in the proposed bill? Will any of it pass Congress? And most importantly, what could it mean for auto repair shop owners and other small business operators?Hunt unpacks what we know so far, what's still uncertain, and how business owners can start thinking strategically. From potential expansions of the Child Tax Credit and QBI deduction to the controversial proposals of eliminating taxes on tips, overtime, and Social Security, this episode covers the key elements that matter most.Whether you're looking to stay informed or proactively plan for future changes, this episode offers a grounded look at what's on the table—and what's likely to be left off.Key Takeaways:What's included in the proposed 2025 tax cut and what's still up for debateThe current status of the Child Tax Credit, QBI deduction, bonus depreciation, and SALT deduction capPotential elimination of taxes on Social Security income—and whether that's realisticA breakdown of the proposed “Millionaire Tax” and its implications for high earnersWhy the talk of tax-free tips and overtime could create major planning opportunities for business ownersWhat shop owners need to watch for and how to prepare as legislative discussions continueThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comText Paar Melis @ 301-307-5413Download a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto https://remarkableresults.biz/Diagnosing the Aftermarket A to Z with Matt Fanslow

The House GOP advanced a tax package that includes deductions for tips, expanded child tax credits, and business breaks — but not without partisan debate. Get the breakdown. https://www.clarkcountytoday.com/news/no-tax-on-tips-child-tax-credit-and-business-tax-cuts-survive-in-big-house-gop-bill/ #ClarkCounty #localnews #taxreform #HouseGOP #childtaxcredit

MN Department of Revenue Commissioner Paul Marquart joins host Robert Pilot and producer Haley Cherry to discuss the Child Tax Credit for families. Plus, Dr. Antony Stately (NACC) returns for a weekly check-in!

New federal data paints a stark picture: American children are falling behind in reading and test scores, with the gap between advantaged and disadvantaged kids growing wider. But is this really just a problem of money? University of Chicago Developmental psychologist Ariel Kalil has spent her career studying how parents influence childhood development—not just through resources, but through daily habits and interactions.On this episode, we explore the surprising science behind parental engagement, the behavioral biases that shape parenting decisions, and why simple interventions—like 15 minutes of reading a day—can have an outsized impact. Plus, we discuss how AI and behavioral economics might provide new solutions for supporting parents in an era of rising inequality.

This week on Minnesota Native News, we cover the 22nd Great Lakes Indigenous Farming Conference in Cohasset, Minnesota. Also, timely information about the Minnesota Department of Revenue's Child Tax Credit. Producer: Deanna StandingCloudVoicing: Emma NeedhamHost: Marie Rock 

  We are living in a moment of turmoil. Many communities feel targeted, and nonprofits are under pressure to quiet their voices. LIFT, a Washington DC based national nonprofit with offices in New York, Chicago and Los Angeles is undaunted in its support for and belief in Black and Brown parents seeking to break cycles of poverty and achieve economic mobility. In this episode of Power Station, Neils Ribeiro-Yemofio, the incomparable executive director of LIFT DC shares how just listening to parents about their aspirations for their families can be transformative. At LIFT DC, financial coaches are matched with parents, guiding parents through a 2 year process to increase their incomes, attain higher education and alleviate debt. As Neils says, it is an investment in hope, money and love. The results are stunning and unimpeachable. Parents are not only generating economic benefits for their families they are advocating for public policies that make life more equitable for their communities. Parents at LIFT DC have testified before the City Council and were instrumental in the enactment of the Child Tax Credit.  And their advocacy is far from done. Hope lies here. Listen!        

House Speaker Mike Johnson tries to push Trump's 'big' agenda forward, but GOP votes are in jeopardy; NV program to bridge insurance gaps for Native Americans needs more 'buy-in,' More AR families rely on Child Tax Credit, OR consumers face more financial risks with CFPB closure.

In episode 42, Gillian sits down with Dennis Poust, Executive Director of the New York State Catholic Conference. They discuss key pieces of New York State legislation the Conference is focusing on this session, as well as important federal developments affecting the Catholic Church.Learn more about ECCA: https://www.nyscatholic.org/posts/statement-educational-choice-children-act-eccaRead our statement on the proposed expansion of the Child Tax Credit: https://www.nyscatholic.org/posts/nys-catholic-conference-statement-governor-hochuls-proposed-expansion-child-tax-credit--- Follow us on social media!Facebook: https://www.facebook.com/nyscatholicconferenceX (formerly known as Twitter): https://twitter.com/NYSCatholicConfInstagram: https://www.instagram.com/nyscatholicconf/

SCOTUS announced this morning its opinion on the constitutionality of a Tik-Tok ban, saying they do not believe the ban to be unconstitutional, thus clearing the way for a national ban to move forward. Utah Representative Blake Moore comments on the court's opinion, and shares the details of his most recent effort to almost double the child tax credit in Utah.  

U.S. Supreme Court upholds TikTok ban F.D.A. bans red dye no.3, citing harmful effects Animal Shelters continue to face strain of overcrowding KSL Movie Show: Wolf Man

Click here to send us a topic idea or question for Weekend Wisdom.If you are adopting or have adopted within the last several years you should join our conversation today about claiming the Adoption Tax Credit for 2024. Our guests will be Becky Wilmoth, an Enrolled Agent and Adoption Tax Credit Specialist with Bill's Tax Service; and Josh Kroll, the Adoption Subsidy Resource Center coordinator at Families Rising.In this episode, we cover:What is the Adoption Tax Credit for adoption being claimed on 2024 federal taxes? What is a “credit,” and how does it differ from a deduction or tax savings?How would you use the Adoption Tax Credit if you get a tax refund every year?Should you still apply the credit to your federal income taxes if you don't have any federal tax liability?What types of adoptions are included or excluded? Are kinship adoptions covered? Are kinship guardianship arrangements covered? What if the child never was involved with the foster care system?Can you get credit for each adoption you complete even if completed in the same year? What about adopting siblings at the same time?What is a Qualified Adoption Expense for purposes of the Adoption Tax Credit 2024?When can you claim the Adoption Tax Credit?Special Needs Adoption: How does the Adoption Tax Credit differ for adoptions from foster care? What does the IRS accept as proof of “special needs”?What is a $0 subsidy agreement?Special needs child for international adoptionCan you reclaim your expenses for an attempted adoption that did not result in a placement (failed adoption)? How?What income level (Modified Adjusted Gross Income) is excluded?How long can the credit be carried over?What if you didn't claim the Adoption Tax Credit when eligible? Is the Adoption Tax Credit something you can amend your tax return for, and if so, how do you amend it, and how many years back?Will the Adoption Tax Credit offset self-employment tax?How does the Secure Act impact claiming the Adoption Tax Credit for 2024 taxes? What should you do if the child's Social Security Number is unavailable when you file? Should you use an Adoption Taxpayer Identification Number (ATIN #) if you don't have the child's social security number?How does the Adoption Tax Credit work in conjunction with employee adoption benefits? For special needs adoption?If you adopt, can you still get the Child Tax Credit?What do you need to get the Child Tax Credit for your adopted child?Do you need to send any documentation to the IRS when you file your taxes? What type of documentation should you keep in your records?How do you find a tax specialist knowledgeable about Adoption Tax Credit? The Adoption Tax Credit used to be a refundable credit. Do you think the new administration will impact the refundability legislation? Advocate for refundability Support the showPlease leave us a rating or review. This podcast is produced by www.CreatingaFamily.org. We are a national non-profit with the mission to strengthen and inspire adoptive, foster & kinship parents and the professionals who support them.Creating a Family brings you the following trauma-informed, expert-based content: Weekly podcasts Weekly articles/blog posts Resource pages on all aspects of family building

This is the All Local morning update for January 7, 2025.

“Administrative burdens” is a term for the frictions people experience when interacting with government—learning how a program works, taking the time to fill out paperwork, and experiencing the frustrations and shame that can come from the process. Sometimes this is accidental—just the result of a bureaucracy failing to think through how it interacts with citizens. But it can also be purposeful—a way for politicians and policymakers to limit or direct programs without openly admitting to it. In this conversation, Donald Moynihan describes how administrative burdens affect how citizens experience government agencies and how interactions between the three branches of federal government can get in the way of efficient and effective public service. Donald Moynihan is a public policy professor at the University of Michigan's Gerald R. Ford School of Public Policy and codirects the Better Government Lab at Georgetown University. He previously served as the McCourt Chair for Georgetown University's McCourt School of Public Policy and as director of the University of Wisconsin-Madison's La Follette School. His work focuses on the administrative burdens citizens encounter during interactions with government. In addition to his research, Moynihan is the president of the Association for Public Policy and Management. https://donmoynihan.substack.com/

The latest episode of Mathematica's On the Evidence podcast features an interview with Katherine Michelmore, an associate professor of public policy at the University of Michigan's Gerald R. Ford School of Public Policy and the 24th recipient of the David N. Kershaw Award and Prize. Michelmore's research has focused on temporary expansions of tax credits during the COVID-19 pandemic, which is part of a growing body of evidence informing state and federal policy proposals to make permanent some or all of those changes. On the episode, Michelmore talks about her experiences interacting with the media and policymakers about the subject of her research, using a novel source of data from a private mobile app to study the impacts of an expanded Child Tax Credit on households, and questions she would like to pursue in the future related to tax credits that support working parents and their children. Find the full transcript at mathematica.org/blogs/kershaw-award-winner-katherine-michelmore-on-how-expanded-tax-credits-benefited-family-well-being Check out the Spotify playlist with interviews with the 2020, 2021, 2022, and 2023 winners of the Kershaw Award: https://open.spotify.com/playlist/1Qz9HKUOxBhj33neIpPEUd?si=9oBu3VV2QJig8nUgKVVUKg&nd=1&dlsi=c61b4fd6357f426d Going to the 2024 APPAM Fall Research Conference? On the Evidence will be there, too. Find us at the Mathematica booth. Send us a message at jwogan@mathematica-mpr.com to let us know you're coming. Read a working paper co-authored by Michelmore on the effects of the temporary expansion of the CTC on the economic well-being of families, including a reduction in food insecurity: https://www.nber.org/papers/w30533 Read an article co-authored by Michelmore on the effects of the temporary expansion of the CTC on housing affordability and the living arrangements of families: https://read.dukeupress.edu/demography/article/61/4/1069/389197/The-Effects-of-the-2021-Child-Tax-Credit-on Read an article co-authored by Michelmore on the effects of the temporary expansion of the CTC on short- and long-term child development, including the likely improvement of children's health: https://journals.sagepub.com/doi/10.1177/00027162241264412 Read a working paper co-authored by Michelmore on the effects of the temporary expansion of the childless EITC: https://www.nber.org/papers/w32571

Deputy Treasury Secretary Wally Adeyemo, and Robert James, II, President of Carver Financial Corporation join.JobsThe Black unemployment rate was 5.7% in September, near historic lows. The Black unemployment rate was 9.3% when President Biden took office.2023 was the lowest year for Black unemployment on record.16 million jobs have been created since President Biden took office, including nearly 2.4 million jobs for Black workers—achieving one of the lowest gaps between Black and White unemployment on record.Prime-age Black women have seen their labor force participation rates climb by about 3% compared to pre-pandemic levels.Wages/WealthReal wages for Black Americans grew over 5% between 2019 and the four-quarters ending in Q3 2024.Black net worth is up 60% between 2019 and 2022 and the Black-white wealth gap is at its narrowest level in nearly 20 years.HousingBlack homeownership rates increased by 3.5 percentage points from 2019 through the four-quarters ending in Q2 2024. In the years of the Financial Crisis, Black homeownership had dropped 1.75 percentage points.As of Q2 2024, 37% of Homeowner Assistance Fund (HAF) homeowners self-identified as Black.In 2021, eviction filing rates in Black neighborhoods were less than half their historic average.41% of ERA payments have gone to Black families as of Q1 2024.Child PovertyOver 800,000 Black children were lifted out of poverty in 2021 through the expansion of the Child Tax Credit under the American Rescue Plan, helping drive the child poverty rate for Black children to its lowest level on record.Small BusinessThe number of Black households owning a business has more than doubled since 2019.Black business ownership is up 6.2 percentage points from 2019 to 2022 to 11%, the highest rate in history.In 2021, Black-owned companies employed 1.4 million people and paid over $50 billion in annual payroll.·       The number of Black workers that were self-employed—a measure of entrepreneurship—increased by over 30% from 2019 through 2024. ·       The number and dollar value of SBA-backed loans to Black-owned businesses have more than doubled since 2020. The Small Business Administration (SBA) has now surpassed the $1 billion mark in lending to Black-owned small businesses for the third year, almost double 2019 lending amounts.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Menstrual poverty, or unmet menstrual hygiene needs, is defined as a lack of appropriate menstrual products in necessary quantities; access to soap and water for proper hygiene; or ways to dispose of or wash used sanitary materials. The experience of menstrual poverty can have far-reaching impacts on mental and physical health, the ability to work, and consistent school attendance. For this episode, Dr. Anne Sebert Kuhlmann discusses her research on the impacts of menstrual poverty, and what practice and policy options are available to alleviate the burden on menstruating people. Reference Papers:  The Effects of the 2021 Child Tax Credit on Housing Affordability and the Living Arrangements of Families With Low Incomes  Students' Menstrual Hygiene Needs and School Attendance in an Urban St. Louis, Missouri, District Unmet Menstrual Hygiene Needs Among Low-Income Women

Tom Wheelwright is back by popular demand, our most recurring guest in GRE show history. He's a CPA, an International Authority on Tax, and Best Selling Author of “Tax-Free Wealth” amongst many other titles. We focus on the potential unrealized capital gains tax, which would tax the increase in property value even before sale. Tom explains the implications of this proposal and the broader impact on tax policy.  We cover the Democrats' proposal for capital gains tax at ordinary income rates, capital gains on gifts, and capital gains when you die. The proposal for a billionaires tax, which would tax unrealized gains at $100 million, could potentially extend to lower net worth individuals over time. Real estate income can result in a negative tax rate, increasing cash flow after taxes. Learn about the benefits of working with a knowledgeable tax advisor. Resources: GetRichEducation.com/tax Show Notes: GetRichEducation.com/519 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai      Keith Weinhold  00:01 Welcome to GRE. I'm your host. Keith Weinhold, this week we're talking about the value of the raw land that comes along with your property, the importance of an as built survey in real estate. Then it's tax topics with pro Tom wheelwright, the specter of an unrealized capital gains tax, higher capital gains tax rates, how gambling is taxed, and how to permanently reduce your overall tax burden. Today on get rich education,     00:33 since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  01:18 You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  01:34 Welcome to GRE from Essex County England to Essex, Massachusetts and across 188 nations worldwide. I'm Keith Weinhold. You're listening to get rich education before we talk taxes, let's talk about the land, the raw land, the lot that comes along with your property. Investors don't spend much time thinking about it. Yet the land is sometimes worth more than the home or structure that's on it, per the FHFA, land constitutes 32.2% of the value of the average US single family property in a metro area. Now the inexpensive land prices nationally, they are predominantly in what I'm classifying it as three US areas, the Midwest, the southeast and Appalachia well, where you have inexpensive land. Oh, that also happens to be where the cash flow for long term rentals resides. Land costs more by the water because people want water activities, water proximity and water view. So the lower costs are inland, and land also costs more by the water, because coasts and shorelines constrain development, sprawl that limits supply and a limited supply of buoys up prices. Consequently, the highest land values are mostly in the Northeast Corridor, from Boston to DC, Miami, coastal California and Honolulu. Yes, Manhattan values are flat out extortionate for raw land now, Seattle, Madison, Wisconsin and Boulder, Colorado. They are three places with really high land values as well. Seattle and Madison are on geographic isthmus. And isthmus is a narrow strip of land with water on both sides. It's interesting how Nashville's nascent population influx made its land values surge inside a cheap sea of southeastern US land values now costly land areas like these ones that I've been talking about on the coasts, they could work well for short term vacation rentals like Airbnb and VRBO, your classic waterfront and beachfront weekly rentals, but they do not work for long term rental cash flow. Texas Land values are sort of low to medium. Land near the Mississippi River and its major tributaries have low costs because rivers are efficient transportation networks, prohibitively high land costs. That's one reason, actually, why alternative building methods just really aren't as cost effective as some people think. I'm talking about things like 3d printed homes, prefabbed homes, tiny homes and shipping container homes, well, all of them have got to sit on land, just like conventionally build homes do. And there is a land cost. Talk to a tear down specialist, and they'll tell you that in some older homes, 100% of the total value is in the l and. And in practicality, it's actually even more lopsided than that. The structure can have negative value because demolition is not free. So for you to get an idea yourself, your property tax bill, it's going to show you your split. That's where you'll see the assessed values broken out for both your structure and the land. So the bottom line here is that cash flowing properties have low land values, typically 25% or less of the total property value. That's generally what you want to look for. And I swear the only thing that's more barren than raw land is the creative naming process for new developments. There is such a lack of creativity in these development names. I'm talking about names like Willow Creek Estates, stone bridge crossing, or what else do they name a new housing development? How about VISTA, view heights? They all have these idyllic sounding names that somehow just all sound like each other. Well, we're talking about raw land when you get in contract to buy a property, the seller side is expected to provide you with an as built, it often still comes in the form of an old fashioned piece of paper and as built survey, what it is is a plan view, a bird's eye or aerial view of your property. It's not a photograph, but a drawing, and it shows you the dimensions and the placement of structures on your property, and it includes things like fences and other features like easements. Now, lenders don't always require an as built before granting a loan, but it's a good idea to ask to see one before you wrap up your next deal. If you want to in your offer, you can even require that a recent as built be done by a surveying company. All right. Well, what exactly do you look for on an as built once you have one in hand, first see that the house or apartment building that you're buying is properly set back from the property lines to meet zoning requirements. If the six foot side setback is only five feet 10 inches, then you'll have to address that before you buy even if it's five feet 11 inches. Now it's possible that the jurisdiction that you're buying in will grant a letter of non conforming status, but if not, the structure is going to have to be adjusted. Another item to look for on an as built are encroachments. This is where part of a neighbor structure protrudes over the lot line and onto your property. And encroachment is really only acceptable if you're willing to grant the neighbor an easement in perpetuity for their encroachment onto your land. But why would you want to do that? The third thing that I want to mention that you should look for an as built is the existence of easements. An easement that just means that another party has a legal right to come over onto your land and use it. Yeah, and easements are actually quite common. It's not as threatening as it might sound. A common one is that as your as built would show, say, a five foot wide by 60 foot long easement. Is there that a utility company has access to. Well, that's something that makes sense. It's for the common good, but just be mindful that an easement cannot have a structure with a permanent foundation built on top of it, alright, because an electric company or a water company might have to excavate there. Most people think of easements on the raw land, but there are also aerial easements, for example, an overhead power line where the roof eaves are not allowed to intrude on that airspace. So to review what you learned so far today, the best cash flow properties typically have low land values, often about 25% or less of the tolerable property value. And an as built survey is an aerial view drawing of your property and its dimensions on an as built look to see that it meets zoning requirements like setbacks and look for encroachments and easements. It is resale properties where it's more important to look at as builts than it is for new construction properties.  As we're about to bring in tax pro Tom Wheelwright shortly, business owners and real estate investors really get so many of the best tax breaks in the US Code. But you've got to know. How to find them, or else work then with a CPA that does know how to find them, that really knows how to navigate their way around the tax code, people that make high salaries pay high taxes, as much as 50% you remember I did that episode a few months ago, high salaries don't create wealth. Taxes are one big reason why, say, for example, a chiropractor makes $1.2 million a year in salary. But if that chiropractor becomes an investor by buying and selling other Chiropractic Clinics or investing in real estate, their tax rate will drop by half or more, and that's because capital gains tax rates are about half of ordinary income tax rates. So see, you don't want to be a super earner. You want to earn enough money to invest and become a super owner, but tax policy could change Tom and I will discuss that first. Then we'll talk about reducing the amount of tax that you pay. Today is a new punishing unrealized capital gains tax coming that you will have to pay. What this means is that if you have a $500,000 home, and it rises in value to $550,000 well, you would have to pay tax on your $50,000 of profit, but you haven't sold your home. So this feels so wrong, because you haven't realized any profit at all. This is what unrealized capital gains tax is. And also, where are you going to get the cash to pay the tax on your 50k of profit just because your home rose in value yet you didn't realize it? I mean, might you have to sell your home in order to get the cash to pay the tax. And then what if you though could pay the tax on your unrealized capital gain so you do pay it, but then the following year, the home goes down in value. Well, would you get a refund then? So the unrealized capital gains tax proposal is a mess. Let's learn about it and more. This week's guest is a best selling author, CPA and an international authority on tax. He's brilliant because he actually makes taxes fun, easy and understandable. He's familiar to you because he's the most recurrent guest in show history. Welcome back to GRE Tom Wheelwright.   Tom Wheelwright  12:48 thanks always good to be on your show.   Keith Weinhold  12:50 Tom probably with more than 30 show appearances here now you are 6% of GRE episodes.   Tom Wheelwright  13:00 That's a little scary. But you know, taxes are your single biggest expense, so why not?   Keith Weinhold  13:05 It's appropriate. And yeah, I guess all these appearances are certainly an endorsement of how much you help our audience. It's also a reflection of how tax and legal are not my strong suit. So it really helps to have you here absolutely the all time, assists leader in GRE history then and Tyler. An awful lot of timely tax topics going on that are probably first and foremost in more people's news feeds than they usually are. As we're here during presidential campaign season, the one that it really seems to revolve around the most is this potential tax proposal on unrealized gains. I've been around long enough where I seem to see this proposal come up more often, but it never seems to go anywhere. So first, why don't you tell us what unrealized gains are?   Tom Wheelwright  13:51 it actually goes beyond that. Interestingly enough, what the Democrats are proposing is, first of all, they're proposing capital gains rates at ordinary income rates. So they're proposing doubling the capital gains rate. That's actually as important as anything else. The second thing is, they're proposing capital gains on gifts. So if you give it, if you give your business to your child, you have a capital gains ordinary income rates. They're proposing capital gains when you die. So not only an estate tax, but also a capital gains tax. So then you get taxed twice when you die. So about 80 to 90% of your estate goes to the government when you die. If you're a business owner, as an example, then they're proposing eliminating the 1031 exchange, which would mean that on a trade of real estate, you'd have a capital gains tax at ordinary income rates. Then they're talking about this unrealized capital gains so if you do nothing but build your business or your real estate, the increase in value is subject to capital gains taxes at ordinary income rates. Now you know their proposal is, we have this tax. Tax when you're over $100 million that is not seem to be in the news feeds right now, but that's what it is. They call it the billionaires tax, and they're calling it an alternative minimum tax on billionaires. But clearly, 100 million is not a billion. That's only a 10th of a billion. And the biggest issue, of course, is if you tax unrealized gains at 100 million, soon you're going to tax them at 10 million, then it's going to be 1 million. Because history. That's the history of our tax law. The history of our tax law. Remember, in 1913 when we passed the 16th Amendment, it was passed because it was only a tax on the rich, right? It would never have passed if it was going to be a tax on the average person. And yet it passed. Because great, we're okay taxing somebody else, as long as it's not our tax. We're okay taxing somebody else. That's pretty much what's going on with this unrealized gains tax is, oh, well, it's on somebody else and they have enough money. It's no big deal. Therefore, I'm okay with that, because why shouldn't they pay more tax? That is what this is about. The challenge is, is, as we saw with the income tax, eventually it will reach the average person, or at least the average entrepreneur, real estate investor. Because think also, let's say that you build your wealth in real estate, and then when you retire, you say, Well, look, I don't want to be doing active real estate anymore. I'm going to trade my single family homes or my apartment building. I'm going to trade for a Walgreens a triple net lease, well under their proposal, that would be taxed because, again, no 1031 exchanges over $500,000 so that means that if you accumulate your wealth through business or real estate, you pay a much higher tax rate than if you accumulate your wealth by investing in Wall Street through a 401k because if you invest in Wall Street through a 401K, you only have to pay tax as you pull that out, you're not going to be paying tax on the value. Now that's assuming that they don't tax the increase in value of your 401K, which is also obviously a possibility. Interesting enough people talk a lot about the constitutionality of this. The challenge with that is that we already have taxes unrealized gains. If you're a dealer in stocks, in securities you do mark to market, that is meaning that you're going to pay tax on unrealized gains. And so there is actually precedent for this, and that's the scary thing, is that they could point to that precedent and say, Well, wait a minute, it's just an income tax, it's not a wealth tax, that's what they're going to say. They're going to say it's an income tax, not a wealth tax, because it's on appreciation, and appreciation is income. That's how they're going to go down this road. Will it start at $100 million Absolutely, that's where it will start. Will it then drift down? Who knows? But likely that's the history of our tax system. Yeah. I mean, we've talked before about the phenomenon of the camel getting its nose under the tent. However, in this case, I didn't realize there's already precedent for unrealized gains, in a sense, as potentially, if this is approved for those with $100 million net worth, and in next it's 10 million net worth, $1 million net worth and so on, like you described there, when you talk about capital gains tax rates being stepped up so that they're at ordinary income tax rates. It's actually somewhat of an interesting philosophical discussion, in a way. It sort of makes sense that a person's gains from investment could or should be taxed at the same rate as one's income when they go to their day job. However, why don't we do that by lowering income taxes rather than doubling capital gains? Wait a minute, no, because it's a double tax. Let's say that you're a business owner. Why does your business increase in value? Well, because you're making income, but you're already being taxed on that income. It's called income tax. What we do in this country, which a lot of countries don't do, by the way, is we tax it a second time. We call that a capital gains tax or a dividends tax. We tax it twice now. Now we're going to have that second tax at the same rate of the original tax. So if you think about it, you're being taxed on the same income twice because it's your income that determines your value, so you're being taxed twice. It's really not the same. It's fine if you're invested in the stock market, and that's where your capital gains are. That's a hard one to argue too much, although it does take liquidity out of the market, because the problem with capital gains tax is being taxed over 28% it's about 28% is that you actually lower the contribution to the Treasury because there will be fewer capital gains. There will be so many fewer capital gains that you actually lose money. The Tax Foundation, taxfoundation.org, I'd refer people to, has done lots of studies on this, and it's very clear. Here that high capital gains rates actually reduce the amount of money that comes to the government. So this is purely political. This has nothing to do with let's generate more revenue, one of the challenges so you have to score this, right? So that means that you're scoring what's the revenue that's going to be produced? You have two types of scoring. One is called static scoring. The other is called dynamic scoring. Static scoring means that we're going to look at the capital gains we already have, and we're just going to, if we double the rate, we're going to double the revenue. So that's assuming that we're going to have the same number and amounts of capital gains as we add at the lower rates, right? Dynamic scoring means that we're going to take into account how people behave motivationally when you double the tax rate. Yeah. Well, let me give you an example. So I'm a business owner. My wealth is in my business primarily. Do you think, really, I'm going to sell that business and take the capital gains immediately and be done with it? But if I have a high capital gains rate, I'm going to sell this over 20 years. So I'm actually going to defer my capital gains as long as I can, because I don't want to pay those high capital gains rates. So that means less money to the government. That's what it means. So it actually reduces on a dynamic scoring if you look at truly how people behave and have behaved in the past. So this isn't a new thing, right? We've had high capital gains rates before. It's not like we don't know. It's not like we haven't seen this before. It's that, for whatever reason, politically, they've decided that, wait a minute, the rich are out of favor. We need to tax the rich more. That's a very popular line, and therefore this is a way to do that, even though it by all calculations that are dynamic, it would actually reduce the amount of funds that come to the Treasury.   Keith Weinhold  22:00 That does make sense about the double taxation. Case in point, with an apartment building, if you increase its noi, you have more income than pay tax that if you increase the noi, therefore you've increased the value of the building. Consequently, the capital gains tax that you might have to pay down the road Tom, maybe current capital gains tax are higher than I thought, is the 28% capital gains tax. Number You mentioned, current or proposed. What is that?   Tom Wheelwright  22:24 Well, right now we have a 24% capital gains tax, okay, we have 20% pure capital gains tax, plus we have a 3.8% net investment income tax. Doesn't apply right now if you're a real estate professional, but applies to everybody else under the Harris proposal formally adopted Biden's plan under the Harris proposal, then you would get a actually 39.6% rate, plus 5% net investment income tax, regardless of whether you're your real estate Professional. So that is 44.6% that's the 45% the 28% number I threw out is that's the number the Tax Foundation says is the maximum you can raise it to without losing revenue.   Keith Weinhold  23:11 That puts things into perspective, as real estate investors, for a long time, we've appreciated substantial tax shelters. What are they being the 1031, tax deferred exchange, like you mentioned, that's been around for more than 100 years. Does that have any realistic shot of being shot down? Of course, Trump shot down substantial parts of the 1031 outside of strict real estate investing.   Tom Wheelwright  23:32 He did, and he actually set the precedent for eliminating it. So by doing that, because he eliminated it on everything except real property, right? I mean, actually, and even before that, there was a time, and there's still ways you can do it with paper assets. But it's not a 1031 exchange. So 1031 exchange has it evolved. It's gotten it's shrunk. It keeps shrinking. Even three or four years ago, no realistic possibility of eliminating 1031 exchange. The challenge, of course, is it would have an impact on the liquidity of the market. However, big deals never do 1031 exchange. Ever you don't see big multifamily developments sold in 1031s. The only time you see that happen is when they've used the Delaware statutory trust. And then you've got some of the investors who use it. And some of them who don't, you can do that in the Delaware statutory trust, but the regular developers, I haven't seen a 1031 done by a syndicator in years. So could they eliminate? Yeah, they could.   Keith Weinhold  24:33 yeah, that would be concerning. Are there any other presidential hopeful proposals that have to do with taxes that are germane, and our audience should know about?   Tom Wheelwright  24:41 my heavens. So the Democrats want to raise taxes by $5 trillion they want those taxes to all be on investors. And the reason I say that is because typically, people who make less than $400,000 which is their threshold, are not major investors. Most of their money goes to spending. Money. If you're making under $400,000 you can easily spend $400,000 a year. Oh, yeah, okay, that's not that hard, especially in today's world. It's a transfer from high net worth individuals who invest their money in long term projects like real estate, like energy, like business, and it's going to be a transfer to people who spend the money and they're going to spend it, my prediction is that if the Democrats get their way, we enter into a long term period of stagflation, high unemployment and high inflation. Because if you transfer $5 trillion from people who aren't spending it in the first place to be able who do spend it. You've got $5 trillion of new money going into the marketplace. Now it could depress asset values. So that could be good for investors, okay? Because you don't have as much cash available to the I'll call it the investor class, to go into real estate. If that's the case, then you have $5 trillion less, right? I mean, it's not a huge portion of the market, but it's big enough. If you take $5 trillion out of investment capital, then that would put a downward pressure on asset prices, which would include real estate.   Keith Weinhold  25:29 we're talking about potential changes to the tax code. It's always a germane discussion, because taxes are the biggest expense in your life. We're talking with Tom wheelwright. We come back, we're going to talk about the real estate tax laws as they are now, for example, how your rent income is taxed differently than your job income, and also, what are taxes like on sports, gambling. You're listening to get rich Education. I'm your host. Keith Weinhold.   Keith Weinhold  26:45 hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at Ridgelendinggroup.com that's Ridgelendinggroup.com   Keith Weinhold  27:16 you your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest, year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too. Earn 8% hundreds of others are. Text FAMILY  to 66866, learn more about Freedom Family investments Liquidity Fund on your journey to financial freedom through passive income. Text FAMILY to 66866.     Blair Singer  28:29 this is Rich Dad, sales advisor, Blair singer. Listen to get rich education with Keith Weinhold. And above all, Don't Quit Your Daydream.   Keith Weinhold  28:48 welcome back to get rich education. We're talking with tax pro Tom wheelwright. He's been talking to us about some of the proposals that presidential candidates have here in a campaign season, and whether these things become true or not. Sometimes it seems like just the fact that they're proposing. They're proposed, or if they get instituted at a small level years down the road, it can blow up into something bigger. So Tom tell us more about some of the proposals that are on the table.   Tom Wheelwright  29:12 So we talked about the democratic proposals, which also include things like a $6,000 tax credit for babies. It also includes an enhanced Child Tax Credit. Also includes some other there's lots of provisions in there, right? So it's a transfer. It's just a transfer of money from one group of people to another group of people. On the Republican side, we haven't talked about that now they want to extend the 2017 act. They've been very clear, that's what they want to do, which is an estimate $4 trillion so the other direction. So basically, you're talking about a $9 trillion swing between the two parties. We've never seen this before, ever in a presidential election. Now, that big of a difference, one major tax increase, one party proposing major. Tax increases, the other proposing major tax decreases in the same election. It's something that I'm glad people are paying attention to, because it's a little overdue in this election cycle. Because really, when you talk about policy, that's probably the biggest policy difference between the two parties.   Keith Weinhold  30:18 Now one thing we've learned over time from talking with you is these presidential wish lists, if you want to call them that. Well, these tax changes are things that require congressional approval, and we have a divided Congress currently. So what do you think the prospects are of really any of these things becoming new law?   Tom Wheelwright  30:36 First of all, remember, most of the 2017 act expires at the end of 2025 so something will have to be done next year. They don't have a choice, either that or is just expires, and then we're back to what we had. We have smaller standard deductions, we have alternative minimum tax again. We get a deduction for state income taxes, right? That comes back the one. We lose our 20% Small Business deduction, the only thing that stays permanent is the corporate income tax rate that was permanent in the original bill. So there is going to be something, you're right, if there is a divided Congress, and I say that if, because if one party sweeps, then, especially on the Democratic side, the Republicans don't seem to be as cohesive as the Democrats are on these things. And if the Democrats sweep, I would say, remember, we don't have Kyrsten Sinema, we don't have Joe Manchin from happening. And so would the Democrats sweep all these through, not all of them, but you're going to see a major tax increase for sure, on the Republican side, would you see the 2017 act extended? You'll probably see it, but you're right that otherwise, if it's a divided Congress, we're going to have something in between. We thought we would get a divided Congress in 2020 though, remember and we didn't. So I would not count on a divided Congress   Keith Weinhold  31:59 erstwhile 2017 Trump tax cuts in JOBS Act brought the highest marginal income tax bracket from 39.6% under Obama down to 37% as I remember it. Some thought Biden would take it back up to 39.6 but he hasn't and it's just stated 37 All right, so if Republicans stayed in power, presumably that 37% would go ahead and carry on. That's what we think about as our w2 income. Tom, why don't we talk about the taxes that actually exist today? I think a lot of real estate investors just don't understand the difference between how your w2 job income is taxed versus your taxes on real estate rent. Can you talk to us about that?   Tom Wheelwright  32:42 The reason it's confusing is because they're both considered ordinary income, right? The difference is, is that one is business income and one is non business income. Your wages are non business income. You don't get deductions against non business income, but you do get deductions against business income. So your rental income is considered business income for purposes of the Internal Revenue Code. What that means is you get deductions for taxes. You get deductions for interest, you get deductions for maintenance, you get deductions for depreciation. That's why, when you have your income from your rentals. Typically taxed much lower than your income from your salary, because you get no deductions against your salary like you do against the rentals.   Keith Weinhold  33:30 Maybe it would help to introduce an example here. I don't know if this will complicate things too much or not. If a real estate investor has, say, a single family rental property with $2,000 of rent, income, $1,000 mortgage, $800 in operating expenses. How is that tax that leaves them with $200 of cash flow?   Tom Wheelwright  33:50 You have $200 of cash flow, but then you probably have depreciation on top of that, which is a non cash deduction. And so let's say your depreciation is $500 that means you actually have a $300 loss that, in many cases, you can use to offset income from your w2 so you actually have a negative tax rate. In other words, you're making money from taxes. So actually, is that an increase to your cash flow? So it's a way to think of it is, I have $200 of cash flow from my tenant, if I have a $300 loss for tax purposes, let's say I'm in a 33% tax bracket. I have $100 of income from the government. So that means my cash flow is really after tax. Cash flow is $300 not $200 whereas if you have the same $200 of income from your wages. Let's say you have just the net, right? Let's start with the net. You have $200 well, you're going to be taxed. And let's say that again, your 33% tax rate, that means you're after tax, right, is going to be roughly $125,000 okay, under $30 so $130 we're. $300 so it's like twice as much. In fact, all of that difference is because of the tax law.   Keith Weinhold  35:06 Gosh, that was a great breakdown. I'm really glad that I introduced that example, $2,000 in rent, minus $1,000 for the mortgage, at $800 in operating expenses, again, leaving you with $200 in cash flow with that example. There's probably more going on here with taxes. Because, of course, with that $1,000 mortgage amount, some is going to be principal, some is going to be interest. In part of that interest can be tax deductible.   Tom Wheelwright  35:31 I'm assuming it's all interest, because if it were not, we'd have a higher taxable income. Remember, your principal payment is not deductible. So in your example, I was assuming that the $1,000 mortgage payment was all interest. If it was only $800 then you'd have $400 of income before depreciation. You don't have $100 loss, because, remember, your principal's not deductible, so therefore you have to add that back into your taxable income.   Keith Weinhold  35:58 Will you talk to us about how to apply depreciation to this income versus expenses. Example, is there anything else you can speak to when it comes to that $800 of operating expenses in this example, and those expenses include things like property insurance, property tax itself, maintenance repairs and utilities.   Tom Wheelwright  36:19 Right but also, for example, you might run your rental real estate business out of a home office in your home so you could have a home office deduction. You might have your use your car for the rental purposes, and then you get a deduction for your car. So there are additional expenses that aren't even in that $800 that you could pick up that would not otherwise you'd never get a deduction, and you're really not spending any more money. You're just using it for business, and therefore getting a business deduction. So it's really all about what do I get to deduct? Remember that if you own a home for yourself, you don't get to really deduct the taxes. You have a limit on how much you can deduct. So taxes are limited in deduction. Mortgage Interest may or may not be limited. Remember also that if you have a mortgage, you're limited to how much a $750,000 mortgage being deductible, whereas if you it's a rental property, it could be a seven and a half million dollar and mortgage, and you still get the deduction, so you're not limited like you are. On top of that, again, it's a business, so let's say that you put solar panels on your personal home, you'd get a 30% tax credit, but you'd get no depreciation deduction. If you put solar panels on your rental house, you get the same 30% tax credit, but now you also get a depreciation deduction of probably another 30 $40,000 in the first year. So there's always more deductions in a business setting than a personal setting.   Keith Weinhold  37:56 Well, real estate has been around a really long time. Often laugh when people talk about non conventional investments and put real estate investing in their real estate's about the most conventional investment that we can possibly think of. It's been around a long time. We think about a newer thing that people do with their money, but I sure don't call it investing. That's sports gambling, and it's something that you and I haven't talked about before. Here Tom in 2018 the Supreme Court opened the way for states to legalize sports gambling, and at last check, 38 states, plus DC and Puerto Rico have legalized at least some form of sports gambling. So now it's a more germane conversation for you and I to have than it was a few years ago. Can you tell us about sports gambling, taxes and how it's treated.   Tom Wheelwright  38:41 So remember, all income is taxable. So that includes gambling winnings. They are taxable. In fact, you'll get a 1099 just like you would if you rendered services, you'd get a 1099 or you have interest income, you get 1099 you get 1099 from gambling. What you actually have to show is that you actually have gambling losses. So you have to track those gambling losses to show the IRS that you got gambling losses. But your gambling losses can never be more than your gambling winnings. You never get to generate a tax loss on gambling. What that means is, is that if you win $10,000 during the year, and you can prove that you lost $8,000 during the year, you're going to be taxed on $2,000 but if you can't prove the 8000 you're going to be taxed on 10,000   Keith Weinhold  39:33 so you the gambler, have the burden of tracking this, and I guess tracking your losses. I'm not a gambler. How would one track their losses?   Tom Wheelwright  39:42 I would keep detail ledger. Personally, I probably have a separate bank account just for gambling. Gosh, I'm not a gambler either, so that's what I would do. I would have a bank account just for gambling, by the way. It's also a good way to budget your gambling so they, you know, get in trouble, right? So just set up a separate bank account. Don't put whatever money you say, I'm comfortable with this money, I'm going to gamble with this money put in that bank account, and then you have a ledger that shows the money that went in and the money you lost, the money you won, and don't do anything but gambling in that bank account.   Keith Weinhold  40:15 Hey, that separate account's a great way to hide it from your spouse, not that I'm suggesting. Not bad.   Tom Wheelwright  40:22 Interesting. You went there.   Keith Weinhold  40:23 I'm not a gambler at all. Can't even believe I was thinking that far ahead. What are the gambling tax rates like?   Tom Wheelwright  40:31 They're ordinary income tax rate. So gambling winnings are just ordinary income. They're the same as your wages. They don't have social security taxes their income, just like any other kind of income, nothing special. And this all applies to whether it's sports gambling or general gambling, like lotteries and sweepstakes?  Just remember, all incomes taxable unless the government says it isn't all income, okay? And then there's some types of income that are taxed at special rates, like capital gains, but gambling has no special rates. By the way, gold also has special rate for when you sell gold, it has its own tax rate. Gambling has no special tax rate, so it's just your ordinary income rates.   Keith Weinhold  41:11 To me, it seems like it's hard to break even with gambling over time, and then when you take the tax adjusted earnings that you get from it, you know, over the long term. I just don't think Harris and Bally's Casino is really incentivized to inform gamblers on how punitive this can be with ordinary income tax rates applied to gambling winnings.   Tom Wheelwright  41:30 No, but they will send you your 10909g I guarantee that, that's for sure.   Keith Weinhold  41:34 Well, Tom has helped business owners and real estate investors permanently reduce their taxes. He does it like virtually no one else in the world does by keeping it simple, by helping you find deductions that other CPAs can't do. You can learn more about how Tom and his team can actually help you. You can get a free consultation. You can do that at getricheducation.com/tax. And Tom tell us more about the importance of a business owner or a real estate investor or anybody else really being connected with the right kind of tax professional that can permanently reduce your taxes.   Tom Wheelwright  42:12 So remember that if you want to change your tax, you have to change your facts. It's that simple. What you have to do is you need to know what facts you need to change. That's where a good tax advisor comes in. Is what facts do you need to change in order to change your tax now good news is, wrote tax through wealth. So you got an idea of what that is, but the tax law is very detailed. You must dot your i's cross your t's, so to speak, so that you make sure that you meet all of the rules, such as documentation, for example, for your business expenses. When you do that, you're going to get a better tax result, especially if your tax advisor is also preparing your tax return. Because really, your tax return is just part just how you implement your tax strategy, right? That's how you do it. So we launched, just recently, a franchise of tax advisors, and now we actually have much, really good control, quality control with our tax advisors, and they use our software system. It's very important that you have somebody, if not us, find somebody who you know you can actually give tax free wealth too, and say what cares make sure that we're doing it this way. But if the easy button is really the getricheducation.com/tax.   Keith Weinhold  43:27 Tom Wheelwright,  It's been valuable as always. Thanks so much for coming back onto the show.   Tom Wheelwright  43:33 Thanks, Keith.   Keith Weinhold  43:40 Yeah, key insights from Tom as always, taxes are complicated. Tom's Network helps sort it out for you. We've already covered a lot of ground on this week's episode with raw land values as built, proposed tax plans and how to reduce your tax burden within the existing tax system. Tom and I talked, and he will be back yet again with us later this year for more tax wizardry. Now, just recently here, Kamala Harris proposed a smaller capital gains tax hike than Biden. She's starting to put sort of her own policy spin on things, breaking with the President on the size of a proposed increase on the capital gains tax rate that is a 28% top tax rate when investments are sold for those that make a million dollars plus. So that's more than the current 23.8% top rate, but less than the 39.6% rate that Biden had supported all income is taxable. Therefore it is axiomatic that the fastest way to increase your ROI is to work with a tax advisor that can find you all of the biggest deductions right away. You can read Tom's book Tax Free Wealth, get a good system of documentation going and get connected with Tom's team. At the end of an episode at times, I like to leave you with the most actionable resource on the topic that we covered. You can schedule a free call to see how Tom's team can help you out. At getricheducation.com/tax. That's getricheducation.com/tax. Until next week. I'm your host. Keith Weinhold, Don't Quit Your Daydream. 45:33 Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Get Rich Education LLC, exclusively. Keith Weinhold  46:01 The preceding program was brought to you by your home for wealth, building, getricheducation.com.  

Greg Olear talks to Stephanie Baker about her superb new book, “Punishing Putin: Inside the Global Economic War to Bring Down Russia,” on the West's financial warfare against Putin after the invasion of Ukraine. They discuss the oligarchs and their complex relationships with Putin, the challenges of implementing economic sanctions on an economy as big as Russia's, Boris Johnson's role in the push for sanctions, the unintended consequences and byproducts of the economic warfare, the role of Telegram, and the potential consequences of Moscow's nuclear weapons. The conversation concludes with a discussion on the future of Putin's regime and potential actions that could be taken to support Ukraine.Stephanie Baker is an award-winning investigative reporter at Bloomberg News. She began her reporting career in Moscow during the 1990s. She received her master's at the London School of Economics and her work has been recognized by the Gerald Loeb Awards, the Overseas Press Club, the UK Society of Editors, the Society for Advancing Business Editing and Writing, and the UK's Foreign Press Association.Follow Stephanie:https://x.com/StephaniBakerBuy the book:https://www.simonandschuster.com/books/Punishing-Putin/Stephanie-Baker/9781668050583 Subscribe to The Five 8:https://www.youtube.com/channel/UC0BRnRwe7yDZXIaF-QZfvhACheck out ROUGH BEAST, Greg's new book:https://www.amazon.com/dp/B0D47CMX17ROUGH BEAST is now available as an audiobook:https://www.audible.com/pd/Rough-Beast-Audiobook/B0D8K41S3T Would you like to tell us more about you? http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=short

In Israel, citizens are out in the streets en masse—mourning and protesting. The demonstrations were set in motion on Saturday after it was announced six hostages (including one American citizen) were executed by Hamas terrorists just as the Israeli Defense Forces closed in on the hostages' location. Hamas terror leaders threatened that the same fate will meet other hostages whom the IDF attempts to rescue. Now, the people are protesting to pressure Prime Minister Netanyahu to secure a deal that brings the remaining hostages home. FOX News Foreign Correspondent Trey Yingst joins the Rundown to explain Netanyahu's ambitions to destroy Hamas, what Israel may have to give up to make a hostage deal with Hamas, and the tragic reality of how many hostages will return to Israel alive. For all the division and polarization between the political parties, there may be some overlap between the Trump and Harris campaigns' and their plans to give expanding families more money. In 2017, former President Trump doubled the child tax credit to $2,000, and his VP pick, Senator JD Vance, has teased their campaign's intentions to make that credit even bigger. Vice President Kamala Harris shared her plan in North Carolina a few weeks ago, saying she would raise the Child Tax Credit to $6,000. Deseret News special projects & family issues reporter Lois M. Collins joins to break down how the candidates are handling the child tax credit issue, who stands to benefit, and what this will do to the national debt, which now stands at over $35 trillion. Plus, commentary from host of "The Will Cain Show", Will Cain. Photo Credit: AP Learn more about your ad choices. Visit megaphone.fm/adchoices

Kamala Harris is a copycat of Trump but also a communist. Will Cain tried to pretend Trump came up with the Child Tax Credit. Greg Gutfeld exaggerated Tim Walz's DUI arrest from 1996. There was a Casserole Controversy! Trump advisor and Project 2025 author made up a bunch of nonsense about Black and Latino Americans. Tammy Bruce encouraged Joe Biden to turn into Dark Brandon at the DNC and Stuart Varney went rogue - Democrats are good for the stock market. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit decodingfoxnews.substack.com/subscribe

Tuesday, August 20th 2024Today, the Democratic National Convention is underway in Chicago and Governor Pritzker confirms members of the Illinois National Guard are on standby; DA Alvin Bragg does not oppose Trump's request to postpone his sentencing but is leaving it up to the discretion of the court; Judge Luttig has endorsed the Harris/Walz ticket; the House Republicans have released their Biden impeachment report; Kamala Harris outlines her economic policy agenda; despite what we hear from the right, violent crime is plummeting; Trump shared a fake Taylor Swift endorsement on Truth Social; Democrats project anti-Trump messages on his Chicago hotel; plus Allison and Dana deliver your Good News.StoriesDemocrats project anti-Trump campaign messages onto his Chicago hotel (NBC News)Harris unveils economic plans on inflation, housing. Here's what economists think (ABC News)Dear Reader, Taylor Swift Endorsing Trump Is an AI-Generated Fairytale (Time)Violent crime is plummeting. Why? (Vox)Give to the Kamala Harris Presidential CampaignKamala Harris (MSW Media Donation Link) — Donate via ActBlueCheck out other MSW Media podcastshttps://mswmedia.com/shows/Subscribe to Lawyers, Guns, And MoneyAd-free premium feed: https://lawyersgunsandmoney.supercast.comSubscribe for free everywhere else:https://lawyersgunsandmoney.simplecast.com/episodes/1-miami-1985Subscribe for free to MuellerSheWrote on Substackhttps://muellershewrote.substack.comFollow AG and Dana on Social MediaDr. Allison Gill Follow Mueller, She Wrote on Posthttps://post.news/@/MuellerSheWrote?utm_source=TwitterAG&utm_medium=creator_organic&utm_campaign=muellershewrote&utm_content=FollowMehttps://muellershewrote.substack.comhttps://twitter.com/MuellerSheWrotehttps://www.threads.net/@muellershewrotehttps://www.tiktok.com/@muellershewrotehttps://instagram.com/muellershewroteDana Goldberghttps://twitter.com/DGComedyhttps://www.instagram.com/dgcomedyhttps://www.facebook.com/dgcomedyhttps://danagoldberg.comHave some good news; a confession; or a correction to share?Good News & Confessions - The Daily Beanshttps://www.dailybeanspod.com/confessional/From The Good NewsAffordable Care Act (ACA) (healthcare.gov)Biden Marks Anniversary of Law Aiding Veterans Exposed to Toxic Substances (defense.gov)MoveOn.org Live Show Ticket Links:https://allisongill.com (for all tickets and show dates)Saturday August 24 San Francisco, CA https://tinyurl.com/Beans-SF Listener Survey:http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=shortFollow the Podcast on Apple:The Daily Beans on Apple PodcastsWant to support the show and get it ad-free and early?Supercasthttps://dailybeans.supercast.com/OrPatreon https://patreon.com/thedailybeansOr subscribe on Apple Podcasts with our affiliate linkThe Daily Beans on Apple Podcasts

On Friday, Vice President Kamala Harris announced a set of economic policy plans at a rally in Raleigh, North Carolina. Those proposals included an expanded Child Tax Credit, financial assistance for first-time homebuyers, cutting regulations to boost homebuilding, and a federal ban on price gouging on food. The price gouging plan in particular represents one of Harris's most notable policy ideas since she became the Democratic nominee for president, and it has attracted scrutiny and interest from across the political spectrum. You can read today's podcast⁠ ⁠⁠here⁠⁠⁠, our “Under the Radar” story ⁠here and today's “Have a nice day” story ⁠here⁠.You can watch the entire Tangle Live event at City Winery NYC on our YouTube Channel!Check out Episode 5 of our podcast series, The Undecideds. Please give us a 5-star rating and leave a comment!Today's clickables: Quick hits (1:10), Today's story (2:17) Left's take (5:17), Right's take (09:48), Isaac's take (13:58), Questions Answered (19:21), Under the Radar (21:56), Numbers (22:40), Have a nice day (23:50)You can subscribe to Tangle by clicking here or drop something in our tip jar by clicking here. Help share Tangle.I'm a firm believer that our politics would be a little bit better if everyone were reading balanced news that allows room for debate, disagreement, and multiple perspectives. If you can take 15 seconds to share Tangle with a few friends I'd really appreciate it. Email Tangle to a friend here, share Tangle on X/Twitter here, or share Tangle on Facebook here.Take the survey: What is your stance on price gouging policy? Let us know!Our podcast is written by Isaac Saul and edited and engineered by Dewey Thomas. Music for the podcast was produced by Diet 75. Our newsletter is edited by Managing Editor Ari Weitzman, Will Kaback, Bailey Saul, Sean Brady, and produced in conjunction with Tangle's social media manager Magdalena Bokowa, who also created our logo. Hosted on Acast. See acast.com/privacy for more information.

The Swing State Landscape. the Dangerous Consequences of Abortion Bans, Project 2025's Plan for the Federal Trade Commission

Kamala Harris pulls ahead in three key swing states as Donald Trump continues to flail and fume to donors and supporters. JD Vance tries to go on the attack in a trio of network interviews on Sunday, but things don't go quite as planned. Then, as Harris starts laying out her own policy agenda, the officially defunct Project 2025 ends up back in the news, this time with a series of leaked training videos offering a bleak, and bizarre, picture of a second Trump term.

The HITO BOYS do some POLITICS and talk about Harris's VP options, JD Vance's continued fumbles, Donald “she's not black” Trump, and Israel's escalatory actions in the Middle East. If you like the show, make sure to leave a 5-star review, buy some merch, and BECOME A PATRON!Get 15% off of Ground News: check.ground.news/headintheoffice  HITO MERCH: https://headintheoffice.com/  Patreon: https://www.patreon.com/headintheofficepod YouTube: https://www.youtube.com/channel/UC4iJ-UcnRxYnaYsX_SNjFJQ TikTok: https://www.tiktok.com/@headintheoffice?lang=en Instagram: https://www.instagram.com/headintheoffice/ Twitter: https://twitter.com/headintheoffice Discord: https://discord.gg/hito  Collab inquiries: headintheofficepod@gmail.com REGISTER TO VOTE: www.vote.org  Seen on this episode: Nancy Pelosi endorses Walz - https://www.yahoo.com/news/nancy-pelosi-reportedly-favorite-v-192956376.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAL7Cj29m12lChIgurpw1mHyEkfrNv6DulXpf7Ua4e8XEFMKzEnviOvTZXKFf-3QRSr7NKfbahnMhISoHNoU3ZxT_83kTNVpIiDDt96ypvB3krpOjspyydk6Cakh_BpxJQyKypOEt4Opght5a40rX1k_gkQvOEMlgWDLuPjIwhCd4 Trump visits the NABJ - https://www.youtube.com/watch?v=d-ihCI_lApA JD Vance is a freak - https://www.independent.co.uk/news/world/americas/us-politics/jd-vance-son-trump-phone-call-b2590681.html Kamala Harris was CA's first “Indian American Senator” - https://www.businessinsider.com/californias-kamala-harris-becomes-first-indian-american-us-senator-2016-11 Biden/Harris propose SCOTUS reform - https://www.whitehouse.gov/briefing-room/statements-releases/2024/07/29/fact-sheet-president-biden-announces-bold-plan-to-reform-the-supreme-court-and-ensure-no-president-is-above-the-law/ Reactions to proposed SCOTUS reform - https://thehill.com/homenews/senate/4807588-mcconnell-biden-scotus-reforms/ https://x.com/SpeakerJohnson/status/1817938406049296725 https://thehill.com/homenews/senate/4796939-graham-signals-opposition-to-more-justices-on-supreme-court-term-limits/ The Child Tax Credit fails to pass, again - https://www.cbsnews.com/news/child-tax-credit-senate-vote/  Israel escalates -  https://apnews.com/article/israel-gaza-assassination-haniyeh-shukur-iran-ec0343b03d182c93a75c75983018dee6 https://www.cnn.com/2024/07/30/middleeast/beirut-explosion-hezbollah-stronghold-intl-latam/index.html

Friday, August 2nd 2024Today, journalist Evan Gershkovich and three other hostages are on their way home from Russia; Black and other minority farmers are getting $2 billion from the Biden Harris USDA after years of discrimination; Senate Republicans block the child tax credit; Senator Schumer introduces the No Kings Act; and accused 9/11 mastermind and 2 accomplices agree to plead guilty; plus Allison and Dana deliver your Good News.Promo Code:Go to JOINdeleteme.com/Dailybeans and use promo code Dailybeans for 20% off. Our GuestJohn Fugelsanghttps://www.johnfugelsang.com/tmehttps://podcasts.apple.com/us/podcast/the-john-fugelsang-podcast/id1464094232The Sexy Liberal Save The World Comedy Tourhttps://sexyliberal.com StoriesStatement by President Joe Biden on Securing the Release of Americans Detained in Russia (whitehouse.gov)Black and other minority farmers are getting $2 billion from USDA after years of discrimination (AP News)Accused 9/11 mastermind and 2 accomplices agree to plead guilty (NBC News)In an attempt to reverse the Supreme Court's immunity decision, Schumer introduces the No Kings Act (AP News) Give to the Kamala Harris Presidential Campaign https://secure.actblue.com/donate/mswmediaforharrisCheck out other MSW Media podcastshttps://mswmedia.com/shows/Subscribe to Lawyers, Guns, And MoneyAd-free premium feed: https://lawyersgunsandmoney.supercast.comSubscribe for free everywhere else:https://lawyersgunsandmoney.simplecast.com/episodes/1-miami-1985Subscribe for free to MuellerSheWrote on Substackhttps://muellershewrote.substack.comFollow AG and Dana on Social MediaDr. Allison Gill Follow Mueller, She Wrote on Posthttps://post.news/@/MuellerSheWrote?utm_source=TwitterAG&utm_medium=creator_organic&utm_campaign=muellershewrote&utm_content=FollowMehttps://muellershewrote.substack.comhttps://twitter.com/MuellerSheWrotehttps://www.threads.net/@muellershewrotehttps://www.tiktok.com/@muellershewrotehttps://instagram.com/muellershewroteDana Goldberghttps://twitter.com/DGComedyhttps://www.instagram.com/dgcomedyhttps://www.facebook.com/dgcomedyhttps://danagoldberg.comHave some good news; a confession; or a correction to share?Good News & Confessions - The Daily Beanshttps://www.dailybeanspod.com/confessional/From The Good NewsAdopt Bella! (Memphis, TN area) (iportia.com)WISCONSIN DEMOCRATS (wisdems.org)Bee Gees - How Deep Is Your Love (Official Video | YouTube) Live Show Ticket Links:https://allisongill.com (for all tickets and show dates)Friday August 16th Washington, DC - with Andy McCabe, Pete Strzok, Glenn Kirschner https://tinyurl.com/Beans-in-DCSaturday August 24 San Francisco, CA https://tinyurl.com/Beans-SF Listener Survey:http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=shortFollow the Podcast on Apple:The Daily Beans on Apple PodcastsWant to support the show and get it ad-free and early?Supercasthttps://dailybeans.supercast.com/OrPatreon https://patreon.com/thedailybeansOr subscribe on Apple Podcasts with our affiliate linkThe Daily Beans on Apple Podcasts

FUN HALF LINK HERE: https://www.youtube.com/live/d4Uoj0YZu64 It's an EmMajority Report Thursday! She speaks with David Freedlander, writer at New York Magazine, to discuss his recent piece on Truth Social, Trump's media company. Then, she speaks with Diana Buttu, Palestinian analyst and former legal advisor to the Palestine Liberation Organization, to discuss the recent unrest in Israel after Israeli soldiers were detained for allegedly assaulting Palestinian prisoners. First, Emma runs through updates on Trump's recent implosion in front of the National Association of Black Journalists Convention, the UAW's endorsement of Harris, Arizona primary results, Russian relations, the aftermath of Israel's recent escalations, dropping border arrests, Sudan, the Child Tax Credit, and federal protections for trans students, before watching the opening moments of Trump's complete meltdown in the face of media pushback. David Freedlander then joins, diving right into an outline of the massive fraud machine that is Donald Trump's Truth Social, a business considered generally worthless with massive losses alongside a market capitalization of $6 billion, functioning more as a financial proxy for Trump's political power than an actual valuation. Stepping back, Freedlander walks through Trump's background in wanting to push a social media company, and the role of his apprentice connections in making that a possibility after his first presidential term, before wrapping up with the danger this massive market capitalization can pose when it comes to Trump's political power, and why it continues to work. Diana Buttu and Emma then step right into the continuing horrors unfolding in Israel's ethnic cleansing of Palestine, parsing through the evolving story on the public and political backlash to Israel's attempt to detain and question 9 soldiers alleged of gang-raping captives, and looking at the massive scale of Israel's torture camp where this took place. Next, Buttu walks through the expansive reports on Israel's torture regime against Palestinians, with a particular focus on its motive of pure revenge and dehumanization, before briefly touching on the Israeli government/military's tacit acceptance of the fascist violence erupting against them. Wrapping up, Diana and Emma tackle Israel's recent attempts to escalate broader regional conflicts, and Bibi's lifeline of war and destruction. And in the Fun Half: Emma is joined by Brandon Sutton and Matt Binder as they watch Trump dance around his regret over the JD Vance pick, talk with Maje from Washington about the GOP's major fumbling of the Kamala Harris discourse, and Karie from NY explores the ahistorical approach of the right. Bill Maher hosts Hailey Welch (of Hawk Tuah origins) and it's just as uncomfortable as it sounds, Comrade Nancy Pelosi has an endearing moment with Matt Binder, and Donald Trump gets mad at his base for not voting enough. Peter Thiel has a take on religion, plus, your calls and IMs! Check out all of David's work here: https://www.davidfreedlander.com/ Follow Diana on Twitter here: https://x.com/dianabuttu Check out the "This Is Palestine" podcast here!: https://imeu.org/article/this-is-palestine-imeu-podcast Check out Anne from Portland's website where her Vergogna t-shirt! INQUIRE MORE HERE FOR DETAILS!: https://www.pictrixdesign.com/mr Follow us on TikTok here!: https://www.tiktok.com/@majorityreportfm Check us out on Twitch here!: https://www.twitch.tv/themajorityreport Find our Rumble stream here!: https://rumble.com/user/majorityreport Check out our alt YouTube channel here!: https://www.youtube.com/majorityreportlive Join Sam on the Nation Magazine Cruise! 7 days in December 2024!!: https://nationcruise.com/mr/ Check out the "Repair Gaza" campaign courtesy of the Glia Project here: https://www.launchgood.com/campaign/rebuild_gaza_help_repair_and_rebuild_the_lives_and_work_of_our_glia_team#!/ Check out StrikeAid here!; https://strikeaid.com/ Gift a Majority Report subscription here: https://fans.fm/majority/gift Subscribe to the ESVN YouTube channel here: https://www.youtube.com/esvnshow Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/ Join the Majority Report Discord! http://majoritydiscord.com/ Get all your MR merch at our store: https://shop.majorityreportradio.com/ Get the free Majority Report App!: http://majority.fm/app Check out today's sponsors: ExpressVPN: Protect your online privacy TODAY by visiting https://ExpressVPN.com/majority. That's https://ExpressVPN.com/majority and you can get an extra three months FREE. Follow the Majority Report crew on Twitter: @SamSeder @EmmaVigeland @MattLech @BradKAlsop Check out Matt's show, Left Reckoning, on Youtube, and subscribe on Patreon! https://www.patreon.com/leftreckoning Check out Matt Binder's YouTube channel: https://www.youtube.com/mattbinder Subscribe to Brandon's show The Discourse on Patreon! https://www.patreon.com/ExpandTheDiscourse Check out Ava Raiza's music here! https://avaraiza.bandcamp.com/ The Majority Report with Sam Seder - https://majorityreportradio.com/  

It's News Day Tuesday! Sam and Emma break down the biggest headlines of the day. First, they run through updates on the GOP's total meltdown over the “weird” accusations, Israel's total meltdown over whether or not rape is okay, Venezuela's elections, Kamala Harris' polling, the Harris Veepstakes, the Child Tax Credit, Blake Masters, and Biden's executive order to save teamsters pensions, before diving deeper into the developing backlash to Israel's attempt to hold their soldiers to account over severe rape and torture accusations. Next, Sam and Emma expand on the story around the Teamsters' pension program, and touch on the greater shift from defined benefit to defined contribution pensions, before tackling the complicated attempt to restore the Child Tax Credit. After briefly touching on the Child online safety bills COPA and COSA, Venezuela's coup attempt, inflation, and Kamala Harris' polling boom, Sam and Emma wrap up with an expansive conversation on the Right-wing doubling down on their commitment to being as weird, bigoted, and anti-social as they can be. And in the Fun Half: Sam and Emma unpack the lines for the major Harris Veepstake finals (Beshear +300?), tackle the inherent problems in a Harris candidacy, and talk with John from San Antonio about today's primaries, Harris' candidacy, the future of Democratic presidential candidates, and (of course) the VP race. Stephen Crowder joins in with the GOP's bigotry barrage against Kamala Harris, plus, your calls and IMs! Check out Anne from Portland's website where her Vergogna t-shirt! INQUIRE MORE HERE FOR DETAILS!: https://www.pictrixdesign.com/mr Become a member at JoinTheMajorityReport.com: https://fans.fm/majority/join Follow us on TikTok here!: https://www.tiktok.com/@majorityreportfm Check us out on Twitch here!: https://www.twitch.tv/themajorityreport Find our Rumble stream here!: https://rumble.com/user/majorityreport Check out our alt YouTube channel here!: https://www.youtube.com/majorityreportlive Join Sam on the Nation Magazine Cruise! 7 days in December 2024!!: https://nationcruise.com/mr/ Check out the "Repair Gaza" campaign courtesy of the Glia Project here: https://www.launchgood.com/campaign/rebuild_gaza_help_repair_and_rebuild_the_lives_and_work_of_our_glia_team#!/ Check out StrikeAid here!; https://strikeaid.com/ Gift a Majority Report subscription here: https://fans.fm/majority/gift Subscribe to the ESVN YouTube channel here: https://www.youtube.com/esvnshow Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/ Join the Majority Report Discord! http://majoritydiscord.com/ Get all your MR merch at our store: https://shop.majorityreportradio.com/ Get the free Majority Report App!: http://majority.fm/app Follow the Majority Report crew on Twitter: @SamSeder @EmmaVigeland @MattLech @BradKAlsop Check out Matt's show, Left Reckoning, on Youtube, and subscribe on Patreon! https://www.patreon.com/leftreckoning Check out Matt Binder's YouTube channel: https://www.youtube.com/mattbinder Subscribe to Brandon's show The Discourse on Patreon! https://www.patreon.com/ExpandTheDiscourse Check out Ava Raiza's music here! https://avaraiza.bandcamp.com/ The Majority Report with Sam Seder - https://majorityreportradio.com/

It's News Day Tuesday! Sam and Emma speak with Elizabeth Pancotti, director of special initiatives at Roosevelt Forward and contributor the Fireside Stacks newsletter on SubStack, to discuss the Kamala Harris's potential economic policy as a presidential candidate. First, Sam and Emma run through updates on the Secret Service post-assassination attempt, Harris' nomination, Netanyahu's upcoming congressional address, Israel's offensive on Gaza, Palestinian unity, US policy towards Sudan, labor action, environmental news, and video footage of another brutal police murder, before unpacking the GOP's attempt to spin Harris' nomination as a “DEI Hire” and her as a welfare queen. Elizabeth Pancotti then joins, diving right into her take on Biden's successful domestic record as president, and what Kamala Harris can do to present a vision that picks up on that momentum. Expanding on this, Pancotti walks Sam and Emma through some of the major pieces of Harris' agenda, presenting progressive policies and ideas for making the wealthy (and corporations) pay their fair share, an earned income tax credit that expands on the now-expired Child Tax Credit, major pro-family policy, housing infrastructure, labor relations, and anti-trust. They also expand on her record in politics, what to make of her potential administration choices, and wrap up with her stance on Medicare for All and the public option. And in the Fun Half: Sam and Emma show off the winners of our “Vergogna” contest, listen to JD Vance perfectly exemplify what he's lacking as a VP (charisma, relatability, sense of humor, etc), and unpack some of Kamala Harris' VP choices, highlighting Rep. Beshear's comments on Vance in particular. Elon Musk walks Jordan Peterson through exactly how horrible of a father he is, and the MR Crew watches Crowder, Tim Pool, and Ben Shapiro struggle to come to terms with a Kamala Harris candidacy, plus, your calls and IMs! Follow Elizabeth on Twitter here: https://x.com/enpancotti Find out more about the Roosevelt Forward here: https://rooseveltforward.org/ Check out Fireside Stacks here!: https://rooseveltforward.substack.com/ Check out Anne from Portland's website where her Vergogna t-shirt will be available soon!: https://www.pictrixdesign.com/ Become a member at JoinTheMajorityReport.com: https://fans.fm/majority/join Follow us on TikTok here!: https://www.tiktok.com/@majorityreportfm Check us out on Twitch here!: https://www.twitch.tv/themajorityreport Find our Rumble stream here!: https://rumble.com/user/majorityreport Check out our alt YouTube channel here!: https://www.youtube.com/majorityreportlive Join Sam on the Nation Magazine Cruise! 7 days in December 2024!!: https://nationcruise.com/mr/ Check out the "Repair Gaza" campaign courtesy of the Glia Project here: https://www.launchgood.com/campaign/rebuild_gaza_help_repair_and_rebuild_the_lives_and_work_of_our_glia_team#!/ Check out StrikeAid here!; https://strikeaid.com/ Gift a Majority Report subscription here: https://fans.fm/majority/gift Subscribe to the ESVN YouTube channel here: https://www.youtube.com/esvnshow Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/ Join the Majority Report Discord! http://majoritydiscord.com/ Get all your MR merch at our store: https://shop.majorityreportradio.com/ Get the free Majority Report App!: http://majority.fm/app Check out today's sponsors: Prolon: Right now, Prolon is offering The Majority Report with Sam Seder listeners 15% off their 5-day nutrition program. Go to https://ProlonLife.com/MAJORITY.  That's https://ProlonLife/com/MAJORITY for this special offer. Blueland Cleaning Products: Blueland has a special offer for listeners. Right now, get 15% off your first order by going to https://Blueland.com/MAJORITY. You won't want to miss this! https://Blueland.com/MAJORITY for 15% off.  Follow the Majority Report crew on Twitter: @SamSeder @EmmaVigeland @MattLech @BradKAlsop Check out Matt's show, Left Reckoning, on Youtube, and subscribe on Patreon! https://www.patreon.com/leftreckoning Check out Matt Binder's YouTube channel: https://www.youtube.com/mattbinder Subscribe to Brandon's show The Discourse on Patreon! https://www.patreon.com/ExpandTheDiscourse Check out Ava Raiza's music here! https://avaraiza.bandcamp.com/ The Majority Report with Sam Seder - https://majorityreportradio.com/

Conrad Shaw and Scott Santens, founders of the Income To Support All Foundation (ITSA), share their journey in supporting various UBI initiatives, highlighting personal stories and the challenges faced, particularly during the COVID-19 pandemic. Does the U.S. economy generate enough wealth per capita to eradicate poverty through UBI? What happened to the Child Tax Credit, which had cut childhood poverty in half? Understanding UBI's benefits comes from experiencing it firsthand, contrasting it with welfare programs, and anticipating the massive economic shifts that Artificial Intelligence will affect in both white and blue collar jobs. Explore Conrad and Scott's experiences in creating the Bootstraps documentary series, which chronicles families receiving UBI and showcases its positive impacts over several years. Lastly, learn about Comingle, a mutual aid platform where community members support each other financially based on weekly income fluctuations. Watch this episode on YouTube: https://youtu.be/N-7zQ2gZI8A Follow Conrad Shaw: https://twitter.com/oneconradshaw | https://www.comingle.us/ Follow Scott Santens: https://twitter.com/scottsantens | https://www.instagram.com/scottsantens Follow Andrew Yang: https://twitter.com/andrewyang | https://andrewyang.com Get 50% off Factor at https://factormeals.com/yang50 Get an extra 3 months free at https://expressvpn.com/yang Get 20% off + 2 free pillows at https://helixsleep.com/yang code helixpartner20 ---- Subscribe to Forward: Apple — https://podcasts.apple.com/podcast/id1508035243 Spotify — https://open.spotify.com/show/25cFfnG3lGuypTerKDxKia To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

The House approves a three-year expansion for the Child Tax Credit. E.U. leaders back a $50 billion Ukraine aid package as the country struggles with tensions between the president and his military chief. And Universal Music Group pulls some of the world's most popular artists from TikTok.Want more comprehensive analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter. Today's episode of Up First was edited by Kelsey Snell, Mark Katkov, Rose Friedman and Olivia Hampton.It was produced by Ziad Buchh, Ben Abrams and Ana Perez.We get engineering support from Stacey Abbott. And our technical director is Zac Coleman.