image in saudi arabia as temperature soared up to 125 degrees. the effects of the extreme heat made worse by the lack of accommodations and cooling centers for those who travel there without proper permits. days of heavy rain and flash flooding striking down utilities and forcing evacuations across iowa. governor kemp reynolds issued a disaster proclamation for 10 counties. a groundbreaking ceremony today for the new tree of life synagogue campus in pittsburgh. that is where 11 worshipers were murdered in 2018 in the deadliest anti-semitic attack in u.s. history. construction is expected to be completed by 2026. in moments, what the contenders on donald trump s short list for vice president said this morning. very good day to you all. welcome everyone to alex with reports. we begin with decision 2024. lee four days until he looming or historic debate. former president trump and current president biden said to go face-to-face for 90 minutes and what is being described
he actually said he s very worried in the short term and long-term. he believes the tax cuts will be wiped out by the trade tariffs and the potential trade war. listen in. we re now absolutely seeing the offset of the positive benefits through the conversation with tariffs. that s only going to increase the costs for everyone involved and going to negate the positive benefits that we would reap from this tax policy change. the overhaul has helped the economy in the short term. the question is what is it going to mean for the long-term of america. back to you. fair question. thanks, christina. live at the white house. president trump racing to fill a seat on the supreme court and he just spoke with the fox business network s maria bartiromo about exactly that. he mentioned something about roe v. wade. the interview coming in and it s breaking on shepard smith
money. high income people tend to give generous gifts, they he may give a million dollar contribution to a capital campaign of a local hospital or a local art museum, there s a small number of donors at the high end that account for a really big chunk of the charitable giving in this country and those are the folks that would be most impacted by this tax policy change. in fact, united way gives 15% of total donations, 500 million dollars a year from those who give $10,000 or more. so, charities worry that any kind of tax increase on the wealthy could cut into their donations, that money from the wealthy would go to the government in taxes instead of the charities as donations. if they re the not taxed on that income then they re able to give to charities and nonprofits, back to their communities. reporter: after all, people have to pay their mortgages and other did he
give very generous gifts. they may give a million dollar contribution to a capital campaign of a local hospital or a local art museum and a small number of donors at the high end that account for really big chunk of the charitable giving in this country and those are the folks that we d be most impacted by this tax policy change. in fact, united way gives 15% of total donations, 500 million dollars a year, from those who give $10,000 or more. so, charities worry that any kind of tax increase on the wealthy could cut into their donations and that money from the wealthy would go to the government in taxes, instead of the charities as donations. yes, they aren t taxed on that income, then they re able to give all of that income to charities and nonprofits, back to their communities. after all, people have to pay their mortgages and other deductible expenses, but they don t have to give to charities. they do receive the tax incentive, but the tax incentive is not why most
poor people. and republicans at the moment want to raise them. and even the rich people thing isn t so simple because you could argue that democrats and republicans both want to cut taxes on rich people, at least when it comes to their specific plans for how to deal with the bush tax cuts. now, before we get into this, i got to be honest with you. it s going to get a little weird. you know how in physics light can be both a particle and a wave? see, we have a cool little physics illustration. in washington, a particularly tax policy change can be both a tax hike and a tax cut. at the same time. crazy, right? the reason for this is a little complicated, but it s not too complicated. and it s important that you know it because the fact that politicians know these numbers, it lets them play a trick on you. they re able to confuse you about what is actually going on with your taxes. so bear with me on this for a