Approved today by Congress Critics say it will only help the rich to get even richer but trump had this to say we are going to bring at least four trillion dollars back into this country money that was frozen overseas and it parts in the world and some of them dont even like us and they had the money well theyre not going to have the money long and so its really. I guess its very simple when you think you havent heard this expression but we are making America Great again you havent heard. Very cheerful donald trump there youve just heard him celebrating his tax reform but is this really a reason to cheer lets cross over to court on wall street how do you really tell me what would change for the individual american just how much more remains in their pocket. It pretty much depends on how wealthy you are and in what area you work also where you live for example in some states and cities where you have. Local and state taxes wont be as easily deducted from the federal tax as in the past meaning it will be a disadvantage for People Living in cities like new york or in stigs like new jersey for example and then also wealthier americans will profit more than people who do not have that much income so its really tough to put a figure down but also bottom line is for corporations the tax cuts are permanent for individual tax cuts will will not be limited so in the future americans might even pay higher taxes just mentioned corporations they are the ones who are going to benefit largely from this what are they going to do that all that x. Draw cash. That is the very big question if history is a guide weve seen to quite often that corporations took bills takes gifts to repay debt to increase dividends to buy big shares and then eventually also invest more money and heaven that said we did get you was from the telecommunication giant eighty and t. Is saying that they plan to increase Capital Expenditures by about one billion dollars and they also want to give bonuses to their goods two hundred thousand employees in the amount of about one thousand dollars you see any risks but a Financial Markets considering the fact that this will result in huge state deficits. Debt is certainly a problem especially for the American Society and for. The social systems in general but also what actually might happen is that we could see zero overheating of the us economy we will see how much. Will happen also when it comes to Infrastructure Investments next year but theoretically the dollar could move higher we could see an overheating inflation could become a topic and that means that the Federal Reserve might have to act a bit more aggressive as weve seen it right now and that certainly could put a certain risk into Financial Markets overall with a new york thank you so much. And staying on the topic the us state of kansas attempted a very similar experiment to Donald Trumps tax reform it was in two thousand and twelve and Governor Sam Brownback introduced the pink tax cuts for individuals what are known as pass through businesses but the planet to a sharp drop in revenue forcing massive spending cuts. The midwestern state of kansas was hit hard during the financial crisis after years of sluggish growth Governor Sam Brownback was hoping to kick start the economy with drastic tax cuts his administration reduced the income tax and then got rid of it. The state eliminated taxes for farmers the selfemployed as well as small and medium sized businesses gary mason the owner of an Environmental Consulting and Services Firm gladly accepted the massive tax cuts. Probably got about twenty thousand dollars with a quick minute side of it you know with the state of kansas tax credit or lower taxes for Small Businesses it allowed us an opportunity to buy a quick i liked it but the dream of an economic boom never materialized the watchdog job center is not as busy as it was a few years ago but thats not due to the tax reform. There were no there wasnt anything that drastic change the economy is recovering so we know that thats part of it is just the last recovery from the recession instead of a strong recovery kansas saw an impressive growth and massive budget deficits as its tax base disappeared funding for this Public School in kansas city dropped by fifteen percent much to the chagrin of principal david smith the tax cuts basically spent all the money that the state had and theyre out of money so what theyre arguing is that schools dont need more money i think these things show you that we do and we would be able to use that money to do more for kids could kansas be a blueprint for the entire country. If Donald Trumps optimistic plans dont succeed the u. S. Could see a spiraling deficit and stagnation instead of many new jobs. And different story it has hit its biggest roadblock because the European Court a Top Court Ruling is that its not just the digital connecting drivers that passengers but also constitute a Transportation Company and me to follow the rules what that means here is more a few clicks with an app is enough to find a quick ride at a reasonable price thats the hallmark of ride hailing giant goober the companys drivers own their cars and riders can choose their Service Provider but goober will have to give up his Business Model in europe if authorities get their way. Europes top court has ruled that guber should be regulated as a Transportation Company that means the ride handling service will be treated like a traditional taxi company professional taxi drivers across europe say the ruling was long overdue whereas been a thorn in their side because it has not had to comply with taxi regulations that has led to repeated protests throughout europe. The ruling could put an end to what the taxi drivers believe is unfair competition. That cannot be the case that the industry that professional industry has to abide by the rules in days another part which is offering exactly the same service that have different lighter or no rules at all but representatives of the computer and Communications Sectors say the ruling is a step in the wrong direction they fear it could weigh heavily on cross border innovation. Right now after this judgment what might happen is that we will have more legal uncertainty. On that innovators might face more legal uncertainty with respect to their Business Model as Transportation Services the ruling means uber and many other private firms are likely to face higher costs. And there is talk today about a brac that delay and that are due to a detailed trade deal will take a lot longer than expected but bross also signaled that the u. K. s transition period must end by december twenty twenty the timetable side and critics are warning of a bracks it bottlenecked on the border between the e. U. And u. K. They say if a deal is not done all the added paperwork for Truck Drivers could lead to daily traffic jams twenty kilometers strong the obvious biggest mass reports from dover everything runs like clockwork in dover this many is ten thousand trucks pass through the port every day there are a few formalities as most of the traffic involves the European Union that could all change after brics it john surely has been a holy here for twenty years his office is right next to the port he specializes in shipments to and from Eastern Europe or about next week or moldova. We could do it first though for sure we dont have a Customs Office we dont know the facilities and i would have no parking space for five thousand trucks can we get out of here to you and five thousand you are getting. This is the economy this is the economic suicide. Johns big worry is that if customs documents are needed again waiting times could massively increase this truckin knows his boss in that case would simply avoid doing business with the u. K. Through. Customs paperwork for non countries is processed in a small hotel at the moment that makes up a small portion of the overall traffic less than one percent about five hundred trucks a day customs broker Alfie Matthews processes the documents by hand an elaborate Computer System would be needed to get through more we could have a deal with europe or european trucks dont need examinations so they dont have to stay here they could drive straight through paperwork could be done electronically there wouldnt be any queues but as things stand theres neither a sophisticated Computer System nor a deal with the e. U. Britain urgently needs a solution theres nowhere to park any more trucks. And thats your business wrap thank you so much for joining us thanks for watching. The use of its leg. Muscles. Move you move. To the im old. Man. Feeds him about the moments that i feel. Its all about the stories in sorrow for its all about George Chance to discover the world from different perspectives. Join us indian sponsored by distinctive instagram or stay at g. W. Stories. Each week on instagram. Fake hair and real stories. Where i come from a lot of women like me have fake hair sometimes the hair style takes up to two days its a lot of time that needs to be filled so people at the salon talk about whats happening in their lives. I became a journalist to be a storyteller and i always want to find those real authentic stories from everyday people who have something to share. With all the time i spent at the salon i know a good quality here when i see it and a good story when i hear it my name is elizabeth shore and i work at steve