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canada goose store BILL HEMMER, CNN ANCHOR: Just a few days now before Valentine’s Day, and Congress cheap canada goose uk appears to be courting millions of households in America. Lawmakers are expected to vote today on an election year forget me not, a legislative bouquet that would lessen the sting canada goose of the so called marriage penalty that targets two income families. This year, they’ll pay Canada Goose Online nearly $1,400 more on their taxes than they would if they were single. canada goose store
Canada Goose Outlet LYDIA MEURET, TAXPAYER: I could use that money. I’d rather have it than them. Canada Goose Outlet
Canada Goose Parka SNOW: And they’re not alone. Treasury Department estimates nearly half of all married couples pay more taxes just because they’re Canada Goose Coats On Sale married. Republicans say they Canada Goose Jackets want to fix the tax code. Canada Goose Parka
buy canada goose jacket REP. JERRY WELLER (R), ILLINOIS: We’re going to send to buy canada goose jacket the president legislation that will help 25 million married, working couples by bringing fairness to the tax code that wipes out the marriage tax penalty. buy canada goose jacket
canada goose coats It’s a politically attractive idea, but Democrats and Republicans differ on the details. The Republican bill would raise the standard deduction for married couples by $1,450. It would also expand the amount of income taxed at a rate of 15 percent so that eventually any couple making more than about $44,000 would save money. Lydia and Phil would save a total of $1,390, wiping out buy canada goose jacket cheap their marriage penalty. canada goose coats
canada goose clearance sale And even couples that don’t face marriage penalties would benefit. Virginia and Joe Fry (ph), married nearly 30 years, would see their taxes go down. The plan would cost $182 billion over 10 years. Democrats say it costs too much and most of the benefits will go to the top quarter of taxpayers. canada goose clearance sale
Canada Goose online REP. DAVID BONIOR (D), MICHIGAN: The only marriage that uk canada goose it’s designed to promote is the long standing romance between the Republican leadership and the very rich. Canada Goose online
canada goose SNOW: canadian goose canada goose outlet jacket Democrats propose a bill targeted at low and moderate income couples. Their plan would increase the standard deduction, but would not affect couples who itemize. canada goose
(on camera): That comes closer to what President Clinton wants. The administration also wants the relief aimed only at two income couples, those people who suffer a marriage penalty in the first place. Incumbents can often bank on reaping political dividends at the https://www.alifeoutofdebt.com ballot box. canada goose black friday sale But this tax cut may further aggravate the testy love triangle of the Canada Goose sale Democrats, the canada goose factory sale Republicans and the White House.
Canada Goose Jackets CNN’s Bob Franken is on Capitol Hill with the view. Canada Goose Jackets
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canada goose deals BOB FRANKEN, CNN CONGRESSIONAL CORRESPONDENT: Good morning. canada goose deals
Canada Goose sale Well, you’ve heard this controversy before: the Republicans seizing on an idea that is described as popular, that is, Canada Goose Parka getting rid of the inequities in the tax code which make many married couples canada goose coats pay more, the so called marriage penalty. But the Democrats say that, in the process, they’re giving an increased deduction, that is to say they’re saving tax money even for those who are canada goose uk outlet married who have not paid the penalty. Canada Goose Outlet And, of course, as we heard, the Democrats say Canada Goose online that the Republicans are skewing their plan toward the rich. Canada Goose sale
canadian goose jacket In addition, the Democrats claim that by doing the tax cuts this year in an incremental way, the Republicans are distorting things, they’re not really providing the complete picture. So the Democrats are insisting that before there is any uk canada goose outlet cut in the marriage penalty that they have to, in fact, include Social Security reform, Medicare reform, and a plan in place to reduce the national debt. canadian goose jacket
canada goose coats on sale All of this starts getting very policy wonkish, but the fact of the matter is, it’s going to be a canada goose uk black friday debate that goes on long past the House canada goose uk shop of Representative passage today of the Republican plan that’s a given. Next it’s on to the Senate, which of course has very, very complicated rules. We canada goose coats on sale don’t know what will happen with this marriage tax plan. And then, of course, the president has said, in the Republican form, he would veto it. So don’t start counting your detections canada goose clearance sale yet. canada goose coats on sale
canada goose black friday sale KAGAN: (OFF MIKE), Bob. But how can the president say he’ll veto something that just sounds so popular as cheap Canada Goose a marriage penalty tax deduction? canada goose black friday sale
canada goose clearance FRANKEN: Well, you will recall last year when the Republicans proposed a massive tax cut and everybody said, oh, people like tax cuts. That’s great. The fact of the matter is, though, that people also like the security of knowing that Social Security will be OK down the road, that the national debt has been reduced, et cetera. So when the issue really gets on and people start discussing all the merits, then it becomes a little less popular, perhaps, a little bit less easy to sell. This is a political year, of course, and all of this has canada goose store to do with the fight for the canada goose clearance White House, but also the fight for control of Congress canada goose clearance.
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