Disappointing first interview
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“I only listened to the Mnuchin interview to hear what he had to say about the tax increases expected for many middle income households, so I was thrilled when White asked that very question. But then Mnuchin waved it off saying it was a "non-issue" because the standard deduction was doubling (which is irrelevant if you already itemize at levels higher than that) and the child tax credit would offset the loss of personal exemptions (irrelevant if your dependents are older than 17 and you aren't income eligible anyway). And are they really increasing the child tax credit the value of a personal exemptions ($4050)? I don't think so. White followed up with a bad pun about SALT and then turned the conversation to baseball. So disappointing. As currently proposed, my family's taxes on AGI of about $160k will increase by about $7600, or 39%. Nothing Mnuchin offered will change that. Even if they should keep SALT deduction (which Mnuchin said he was philosophically opposed to), our taxes would still go up $5k. More importantly, we are not that unusual. Family of 5 (older teens) in a moderately taxed state. I wish Mnuchin was forced to admit some people's taxes will increase significantly and explain why that is a "non-issue."
I gave two stars because it was White's first interview, but he has got to challenge his guests more. Otherwise not worth listening to.”Read full review »
seamus58 via Apple Podcasts ·
United States of America ·
10/21/17
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