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Companies. The typical family of four earning 75,000 will see an Income Tax Cut of more than 2,000 slashing their tax bill in half. Its going to be a lot of money. Going to have an extra 2,000. Theres more than that. Our plan expands the Child Tax Credit for working families. Youll hear the numbers very soon. Theyre even larger than anticipated. Even nearly doubles the amount of income taxed at the rate of zero. I dont know if any of you are paying zero. I hope youre not. I hope youre paying above that, but a lot of people who are having its a little tougher will be paying zero. It closes special interest loop holes. It lowers tax rates for families. And our plan also cuts taxes on businesses, which is expected to raise income by an average of
more than 4,000. So your income goes up. Its like having a 4,000 increase, which isnt bad, which isnt bad. Its a lot of money to spe ....
Decline. they re saying now that you can have $10,000 worth of property taxes and/or income taxes sheltered. that s a little tweak there for people wealthy. a little benefit for the wealthy. shepard: if you pay for instance, you re in a high tax state. texas, connecticut, new york, new jersey new jersey, california. shepard: if you pay a lot of state taxes and local taxes and borough taxes on and on it goes. shepard: is any of that deductible? my understanding is the big kahuna here are the income taxes. that is why they added this bit about both of these things in one combined deduction. because california has such high state income taxes. there s other states you don t think about like texas that has high property taxes. people there complaining about that. but i m going to tell you, 2.6 percentage point cut is a big ....