Local taxes, the property taxes, but there are other deductions that are going away here, there s the credits for elderly and disabled, adoptions, student loans, tax preparation, medical expenses, alimony, moving expenses, the medical savings accounts, the unreimbursed business expense, educator expenses, meanwhile, you bought the to super rich. they re going to save $172 billion on estate taxes, 696 billion on alternative minimum taxes, $847 billion on corporate taxes. yeah, that s exactly the right way to think about this. in other words with retakic away from a bunch of folks who itemize these sort of deductions. now, if are you someone with a lot of kids you lose from getting rid of the personal exemption, if you have high medical expenses and you used to itemize those against the tax liability. will you lose here, if you re at the other ends, one of these
That s .01% of the defense department s $696 billion proposed budget for 2018. let s compare that to some of the department s other expenses. one single apache helicopter, 31 million bucks. 11,000 m-27 riflz the military spends $42 million spent on viagra alone, according to the military times and according to the government accountability office, each time the president travels to mar-a-lago the government shells out $3.6 million. if you just look at at the high end of what a year transgender medical services would cost that $8.4 million number, that s at least two trips, just two trips to mar-a-lago.
in the headlines this week, the national defense authorization act of a $696 billion budget, 18 million more than the president asked for. the president has gone through committees and will be voted on in the near future. the two versions will have to be reconciled. turning to break it down, military analyst, jack king. i appreciate you coming on here. one of the reasons you and i were talking is that for so long you have been using the term readiness, military readiness in a lot of our conversations. we talk about conflicts here and abroad. were you pleased with the news this week? the two versions have to be reconciled but we see a lot of attention, going to bolstering our military. yes, this is very good news. the military is in trouble and that is the fact.
todd: news by the numbers. first, $696 billion. that s how much money the house has passed for the defense policy bill. it would exceed the president s $603 billion defense budget q next, $10,000, that s how much visa is offering restaurants to no longer accept cash. the awards will go to 50 u.s. based small business eateries who commit to upgragd grading systems to force customers to pay with credit cards or digital payments. finally, 37. that s how old dennis legend venice williams is as she looks to become the oldest woman to win a grand slam event at wimbledon today. her sister serena holds the record at 35 years old. clayton: did you know one in two men and one in three women will receive a cancer diagnosis in lifetime. odds it to do slifetime. todd: odds are terrifying. founded by the grandfather of