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b'Calling Tax Cuts Reform is Fake News
\\nEarlier today the House of Representatives passed the Tax Cut Bill.\\xa0 Of course, the Media keeps referring to it as "Tax Reform".\\xa0 That\'s fake news, for you, calling these tax cuts reform is a perfect example of fake news.\\xa0 Donald Trump is not going to complain about this fake news.\\xa0 When the fake news works in his favor, when he prefers the fake news to the real news, he\'s going to be quiet about it. It\'s only when he doesn\'t like the fake news that he calls the media out.
\\nLoopholes will Reduce Taxes from 39.6% to 29.6%
\\nThis has nothing to do with reform.\\xa0 There are definitely tax cuts in this bill.\\xa0 In fact, there are substantial tax cuts. The tax cuts are a lot deeper than what people are saying, because the real reduction in the top rate is not from 39.6% to 37%, it\'s from 39.6% to 29.6%. It\'s a much bigger reduction because of the ability of so many people who are now paying 39.6% to use the loopholes to reduce their tax to 29.6%.\\xa0 Now, of course, the top rates are actually higher than that, because no one talks about the 3.8% Medicare and Obamacare taxes that are not repealed. The mandate, the penalty for not buying insurance is repealed, but the taxes to fund Medicare and Obamacare, they\'re still there.\\xa0 So the marginal rates are higher than the media is talking about. The reductions, however are actually much bigger for the top end.
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\\nNo One Gets Government Relief
\\nNormally, I\'m all in favor of lowering the top end. I would just like to do it in a fair and honest way, not through gimmicks and loopholes. But yes, I want to lower the top rate of tax, but I also want to make government smaller.\\xa0 I want to reduce government spending so we no longer need all that tax revenue. I have said over and over again, that this bill will provide some people with tax relief, but no people with government relief.\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy'