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You are itemizing that we have in terms of sanctions with russia i think that the treasury department will do it bit by bit because at the end of the day, it s the law. congress said they have to do it and congress, as you said, is unanimous. congress speaks for the american people. they ll continue to clamp down. and the other thing we have to remember is the entire intelligence community, the national security community, they re all worried about russia. the only way to get russia to behavior frankly speaking is make it painful. if they don t feel the pain, putin will keep on going. but taking the country off the swift system, it did work for iran, it did bring them to their knees, it shot inflation up. people couldn t export things. that is such a big move that you have to have decided that you are really targeting this country and you really want them to stop. yeah. i m not sure we ve got that commitment in america. it s a problem. i mean, look, honestly under the last ....
If you make $100,000 a year, it s probably about $4,000 a year. that will be reflected in your weekly or biweekly paycheck. jon: it s not going to come in january? not in january. too much to do too quickly. jon: will there really be a postcard for my taxes? only if the postcard is about 3 feet by 5 feet. not really. simplification went out the window to get this done. jon: people want to know, do i still need to itemize and save receipts? saving receipts is absolutely necessary. itemizing is going to become a more interesting computation each year. because the standard deduction is going to $24,000 for a married individual. you may lose because state and local taxes are limited to $10,000. you may not be able to itemize if you re a small charity giver. we are suggesting to people to double up on your charity and ....
we ve been itemizing for 15 or 20 years, so, not being able to do so is going to be extremely challenging. reporter: think it means thousands for you, or my rough estimate is about $3,000, yeah. reporter: harold s eldest son pitching in to help his parents. it means borrowing some of it and almost cleaning out our savings, emergency funds. reporter: tonight, accountants say their offices are being flooded with questions. this could be the last chance they have to deduct real estate taxes. reporter: so, should you prepay those property taxes? experts say if you are itemizing for 2017, check with your personal accountant to see if it makes sense. for example, if you ve been assessed $20,000 in property taxes, depending on your tax bracket, you could be saving between $3,000 and $8,000 by paying early. until people actually see their 2018 tax returns, they won t fully understand how it impacts them. reporter: erielle joins us live now from garden city, new york. and ....
Didn t make her happier on that. at the end of the day, where this lands, it lands in 2019 before the 2020 presidential election. that s where if what they are predicting happens, that people are paying more taxes and 69% of the voters that don t use itemizing deductions. people have to look for a pay increase. it s interesting you are saying that, they need to sell it in the short term but they timed it to mess it up when he gets re-elected. interesting strategy. this is donald trump pulling an old salt out of the 90s to keep selling the ideas behind the tax bill. welfare reform. i see it. i have talked to people. i know people that work three jobs, and they live next to ....
Bottom. we re no longer itemizing. people can t deduct their charitable giving, what do you think that s going to do to organizations like the united way? people who give checks every year and know they re going to write it off. sure, does wall street like it? yes, it works for wall street. wall street hates regulation. everyone does. who wants big brother watching? but regulation, smart regulation exists to protect us. again, we understand that. if you re republicans and you re going home and saying, you know, i m running as a pro-business congressman, is this a bill that would make sense for you to support? not necessarily. this is a bill that s a cheap, immediate win for republicans because they can say, look, we got it done by the end of the year. but long term this is going to if you re a small business in new york, new jersey, california, you re going to get killed. right. for the president to continue to say it doesn t help him, come on. this is an extraordinary hookup ....