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Okay, then let s talk about the thing that is have disappeared. so entertainment expenses, tell me where they were and now where they are. i feel like debbie downer today because it is so frustrating. this entertainment experps tain taking people out. talk business over golf, a spa, a theater, a show, something like that, baseball game. no longer a writeoff at all. entertainment expense is gone. and some of it will have an effect on the entertainment business itself. but the cost of business went up. i need to schmooze my clients and now i don t get to write off any of that. a lot of people are thinking i m schmoozing clients and cannot write that off. on the other half, there are people out there saying, i am a client, and i have been schmoozed so i have been taken to these great shows and the sporting events. and no one will do that for me ....
Teenager who wants to have an abortion in texas and the back and forth about that that went to court this past week. there s a lot still there. we will be watching to see what happens with that. you ve been doing fantastic work. having the governor of virginia here, refocused my mind around who the next governor is going to be. that will tell us two things as we see what we think looks like a tightening. it s going to tell us about whether or not the republican base is still motivated and it s going to tell us about the strength of the democratic party right now. whether or not they turn out. thank you all for joining us. we will see you next week. we leave you with this. clever accounting allows nearly anything imaginable to become a writeoff, including alpacas. a local and federal tax bill can be sheered by claiming exotic ....
Deduction, high tax states. i used to be a californian. i m ava van now. i know new york hates it. have you talked to your members? are they going to go along with this? it s not finalized everywhere we go. let s first start with our premise. are we going to write 50 individuals tax for each state? we ll write a fair plan and end loopholes. what happens here is it fair that another state subsidizes the mismanagement of california. we know what happened in california with democrats. they don t have a tax problem. they have a spending problem. so they raise their state tax to 13%. why make that argument? oh, it s okay. we ll have a writeoff from the federal government. we ll have everybody else in the country subsidize our mismanagement. but what happened here if we want to look at it and be protect one loophole, look at ....
Always use those assets when they are repatieny the tree eig. how can you guarantee that this won t happen? we ve heard that numerous times. if that is our worst case scenario, that companies repatriate their money and use it for shared buy backs dividends, what happens? they pay the repatriation tax. we get another 20% on capital gains or dividends and then the people that get that money back reinvest it back in thediavestm. we re putting enticing rules that will entice people to invest capital. we re giving people a five year writeoff that they can instantly expense. so if that happens, that is fine. we know it will be invested right back and driver growth and jobs and wages. you ve been asked twice and ....
Their income s protected. and certainly one of the things, tim, that s interesting about donald trump as a candidate is he basically preempted a lot of th that by saying, yeah i tried to take advantage as much, i m not quoting him directly. but that made me smart and a businessman. so i found that kind of interesting that he kind of preempted any discussion of that by sort of saying, yeah, look, i would have tried to do everything legally possible. caller: well, and he s entitled to it. most people usually are interested in trying to lower their tax concerns. i think that s not irrational, and he s a businessman who was entitled to do that as long as he took advantage of, you know, legal loopholes. i think, however, in trump s case, one of the things he benefitted from was a massive writeoff, a tax loss or, you know, business loss of over $900 ....