Radio: Understanding the Tax Cuts and Jobs Act

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On December 12, 2017, David John Marotta appeared on Radio 1070 WINA’s Schilling Show to discuss the Tax Cuts and Jobs Act.

Listen to the audio here:

Program Questions:

  1. How should we think about the tax code personally when tax planning?
  2. What is in this tax bill that we should know?
  3. How should we think about tax code public policy?
  4. What might a better tax code be?

Quotes from the Program:

  • “The tax code is the largest and most lucrative strategy game in the world.”
  • “There is no reason a school teacher is more deserving than someone working at a fast food restaurant.”
  • “You really need to scrap the tax code and start from scratch.”
  • “If you just have a straight consumption tax, …it pushes you into vertical integration.”
  • “If you think about it like chess, …no one says: what is the morality of en passant and castling?”
  • “We are states first and the federal government second. … States now have to allow a federal tax deduction otherwise we could owe a 110% tax.”
  • “The best thing we could do is take the federal tax, divide it across the states by people, and say ‘Pay.'”

More articles on the topic:

  1. The Lost Case for SALT: State and Local Tax Deduction
  2. Senate Tries to Hurt Capital Gains Management
  3. Your Deductions in 2018 Under the Tax Cuts and Jobs Act
  4. 529 Expansion to Include Elementary and Secondary Education?
  5. Obamacare in the Upcoming Tax Cuts and Jobs Act
  6. Alternative Minimum Tax Changes in 2018
  7. Understanding H.R.1 Tax Cuts and Jobs Act

Photo by Matt Artz on Unsplash

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President, CFP®, AIF®, AAMS®

David John Marotta is the Founder and President of Marotta Wealth Management. He played for the State Department chess team at age 11, graduated from Stanford, taught Computer and Information Science, and still loves math and strategy games. In addition to his financial writing, David is a co-author of The Haunting of Bob Cratchit.