SHOW FULL TEXT
Around you to help you through that tough time then you have to make sure that other people can get through to.
Well , it’s interesting you talk about and you write about. In the book again seeing the assailant . One of the assailants . Years later , and you’re talking on the street and you’re not sure if he’s repressed it too . I mean , maybe not .
He has , and I’m sure he had because he would have been really embarrassed to come up on me like that , just like nothing it happen.
Well , but do you ever worry that maybe you should talk to him about it and hour should.
Tell someone about. I don’t think about it . That’s still thinking about still thinking about it . Yeah that’s Leland Melvin of Chasing space , an Astronaut story of grit , grace and second chances and there’s one page , it’s quite gripping details of being received when he was 5 years old . The story now sharing in the hopes of helping women in particular . But everybody tell .
Everyone is like to swim and is only one that have have these things happen and I think it’s even more important for men because there’s this probably even more shame with men because they would never say it because they would feel I guess it’s like a sucker like I could have done something and and I think we all have to be responsible for her.
This is Bill Littlefield , host of NPR’s only a game the radio shows you love are looking for a hero to keep them on schedule for another year. When you make a pledge to South Carolina public radio . You can be that hero , providing a little money to make sure your favorite radio programs stay on the air , it’s the no pledge drive pledge and it’s time to give security online and South Carolina Public Radio.org and thanks .
Wildfires have done economic damage in Northern California , but they presented a unique challenge for one shall we say , agricultural business in particular , a lot of them are just totally insane. It’s I mean you know if cost millions of dollars worth of products fish I’m Cairo’s not how the other green economy is dealing with fire season that is next time on market .
This evening at 6-30.
Funding for here now comes from WBUR Boston and math works creators of Matt lab and Computing and model based design math works accelerating the pace of discovery and engineering and science. Learn more at math works.com and Staples offering print and marketing solutions for business including color copies and presentations booklets manuals and signage details at Staples stores or Staples.com/print and marketing Staples its pro time .for technical
It’s here and now the pressure is mounting on Congress to finalize its plans to change the nation’s tax code. That’s because the Senate has approved a 2018 budget resolution it did that late last week . Now one of the big issues still on the table . How much should the nation’s highest earners pay the Trump administration’s initial framework aimed to cut the top tax rate down from 39.6% to 35% and that would be for folks earning more than something like $418,000 a year . But according to reporting from actually as House Republicans are thinking of leaving the higher tax rate in place for people earning more than a million dollars a year . Derek Thompson is a Senior Editor at The Atlantic and he joins us now . As he does each Monday from New York either Derek hello there . So let’s talk more about taxes it on what I think you tough . I think we need so good , but we should note that we don’t know actually plan from House Republicans is going to go through . It depends on what happens with the House Ways and Means Committee . This week , but both should start with the basics , what is the idea behind not cutting the tax rate for those earning over a million dollars .
There is a math argument to the creation of a millionaire tax bracket and there is a moral argument. First the math argument the current tax plan leaves a gaping budget deficit of far more than one trillion dollars , this budget deficit comes in : the fact that the tax plan helps the rich a lot . In fact one analysis found that half of the benefits of this plan would go to the richest 1% . So to make it more palatable perhaps to moderates to people who might be embarrassed by this factor , even to deficit hawks . They don’t want to expand the deficit they want to find a way to keep a little bit more money in the tax system and they’re doing that by creating a new millionaire tax bracket . That’s the math argument but there also is I think a moral argument this idea that income inequality has been on a runaway train if the last few decades . There are a lot more millionaires than there used to be so maybe there should be a reflection of that fact in the tax code and the way he would reflect that fact than tax code is by the creation of a millionaire tax bracket .
Okay. But but the devil’s in the details with these things . As always , so a home you can be sure am understanding something correctly there you know in the proposal . There may be a new tax bracket at a million dollars , but wouldn’t the first $1 million still be taxed at that were 35% is that every dollar as well a million there would be taxed at higher rate .
Oh , we have a tax nerve on the headline fantastic that’s exactly has re-air marginal rates. It’s really important to note , I think this is really being forgotten in a lot of the mainstream reporting important note that this would not raise taxes on millionaires . It would actually as you say , cut their taxes , and that’s because of how marginal tax brackets work . So in this plan . What would happen is income between about $400,000 and a million dollars would be taxed at a lower rate than the current law that attacks on that amount of money would fall from about 39.6% to about 35% then income over $1 million should be taxed at the same top tax rate 9.6% but that means that every millionaire would be getting a tax cut on all income between $400,000 in a million dollars plus all of the tax cuts that are happening on the marginal rates below . So it is important to point out . Yes , that this is the creation of a million dollar tax bracket , which could potentially be raised later by a more liberal administrations in order to tax millionaires more but millionaire should look at this current iteration of the plan , and remember that they are still getting a tax cut .
So it’s still a tax cut. So there’s that . But , but to get back to you think earlier Derek , is there any budget league with significant positive budgetary impact here because you you’re talking about those deficits .
Right , I mean I haven’t seen a tax policy analysis yet of the effect of the creation this millionaire tax bracket. I think it’s really important to point out vet at the TB top of the income scale the richest of the rich tended make more money not from earned income but from investment . You know , Tom , and there is a provision in this tax reform bill that would change the way that pass through in 5 passed through income would be taxed would essentially make it easier for the rich to categorize their income as a closely held business and they could have a took a huge tax cut if they if they re-jig their income through that provision . So there are still many many ways that this Tax Law could predominantly in fact overwhelmingly benefit the richest of the rich , it is not . Still , to my eye the best possible way to cut middle income tax .
So this seems since we are merging out over this. This seems more like a cosmetic change than an actual adjustment to the concerns that people have about the about top earners not being nor have getting a significant tax cut the seems more like politics an actual policy .
Yeah , I mean , and it doesn’t necessarily. I think it’s a very , very interesting points on the one hand I think at the very creation of a million dollar tax bracket itself might seem exactly like a sort of cosmetic attempt to reduce income inequality , when in fact it wouldn’t do that much I think in order to restrain sort of post-tax income held by the richest of the rich in America . That said , I think the reason that you see people like Grover Norquist and other anti-tax cut , Republicans .
Being a little skittish about this plan , even if it is , as you say cosmetic is that liberals might raise it later if you create this tax bracket then another President Warren President Sanders administration might raise it significantly , and they don’t want to give Liberal Democrats that carrot Derek Thompson , Senior Editor at The Atlantic , thanks so much Daryn. Thank you . I’m mega Chakrabarti along with Robin Young this is here now .
Funding for here and now comes from college find where college mentor selected from Harvard Stanford Duke and other schools work with high school students through near appear mentorship to help students discover their passions build resumes and start the college application process college vying.com/end.
You know , this program is made possible through membership support and Lutheran Services Caroline a faith-based nonprofit working to improve the lives of children families refugees individuals with disabilities and others across the Carolinas for.