3 chapters across the catalog
IRS Inflation Calculation Changes and Hidden Tax Increases
The Internal Revenue Service has reportedly altered the formula used to calculate inflation for 2019 tax regulations. This mathematical change affects the standard deduction and is expected to result in higher tax payments for citizens over the next 18 months. The hosts characterize this as a "hidden tax" implemented through administrative rule changes rather than legislation.
Tax Reform Impact on Charitable Giving and Nonprofits
The new GOP tax law's impact on charitable donations is debated following media reports that nonprofits fear a drop in funding. The hosts argue that while the increased standard deduction ($24,000 for couples) may reduce the number of people itemizing deductions, it does not necessarily decrease the altruistic motivation to give, as donors will have more disposable income.
Trump Tax Reform Plan, Corporate Tax Cuts, Estate Tax Elimination
President Trump has unveiled a massive tax reform plan that proposes slashing the corporate tax rate from 35% to 20% and reducing the number of individual tax brackets. The plan also includes doubling the standard deduction to $24,000 for families and eliminating the estate tax. While the President claims the plan benefits the working class, Democrats argue it is a giveaway to the wealthy and Wall Street.
