Waching daily Apr 28 2017

The Trump Administration Just Revealed Its Tax Plan � Here�s What It Looks Like

BY KAITLAN COLLINS

The Trump administration is proposing drastic reductions in both the individual and corporate

income tax rates in its bold plan to overhaul the tax code.

Touting it as �the biggest tax cut� in the history of the United States, Treasury

Secretary Steve Mnuchin and National Economic Council director Gary Cohn briefed reporters

for roughly 20 minutes on the principles of the tax plan at the White House Wednesday.

The plan, which Cohn called �a broad brush interview,� did not include specifics.

(Photo: BRENDAN SMIALOWSKI/AFP/Getty Images)

For individuals, the plan will double the standard deduction people can claim on their

tax returns, providing a significant tax cut for middle-income Americans, while reducing

the number of tax brackets from seven to three � 10 percent, 25 percent and 35 percent.

�In essence, we are creating a zero tax rate � yes, a zero tax rate � for the

first $24,000 a couple earns,� Cohn said.

�Families will benefit from tax relief that will help them with child and dependent care

expenses.�

Sponsored Links by The administration has repeatedly said that

filing taxes has become too complicated, and Mnuchin has even floated the idea of people

filing their returns on a �large postcard.� The White House said it will simplify the

tax return process by eliminating tax breaks that benefit the wealthiest taxpayers and

repealing the Alternative Minimum Tax.

�We are going to eliminate, on the personal side, all tax deductions other than mortgage

interest and charitable deductions,� Mnuchin said.

As far as businesses, the plan slashes the corporate tax rate from 35 percent to 15 percent

for both large and small companies while eliminating tax breaks for special interests.

The business side of the reform also institutes a one-time tax on corporate earnings held

overseas.

Cohn argued this will make businesses more competitive.

�This tax reform package is about growing the economy and creating jobs,� Cohn said.

�That�s how we are looking at this plan.

It�s to stimulate business investment.�

As for when the specifics will come out, Mnuchin said, �We are moving as fast as we can.

�We are determined to move this as fast as we can and get this done this year.�

�We will let you know the specific details at the appropriate moment,� Cohn added.

For more infomation >> The Trump Administration Just Revealed Its Tax Plan — Here's What It Looks Like - Duration: 2:59.

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Amazon Wants You To Put Their New Camera In Your Bedroom - tech and science - Duration: 2:03.

Amazon Wants You To Put Their New Camera In Your Bedroom

Products like the Amazon Echo are proof of a strange new shift in our culture.

Suddenly people are okay with having a device in their homes that they know is listening

to them.

They�re voluntarily inserting electronic devices into their private lives, which are

capable of spying on them and sending the data to private corporations and governments.

At some point our society accepted the idea that trading our privacy for a minor convenience

is totally worth it, which is something that would surely be mind-blowing to previous generations.

However, that social acceptance is about to be pushed to a whole new level.

Today, Amazon introduced a new device to their Echo line of products, called the Echo Look.

It�s basically a camera that you stick in your bathroom or your bedroom or wherever

you dress, and it takes full length images of what you�re wearing.

It�s being called a �style assistant.� It has a service that �combines machine

learning algorithms with advice from fashion specialists,� presumably to give you feedback

on what you�re wearing.

I�m guessing that at some point, it�ll make suggestions for clothes you should buy

on Amazon.

Let that sink in.

Amazon thinks that millions of people are going to spend $199 on a camera that is supposed

to be placed in their bedrooms, stores images of them, and is probably going to criticize

their fashion sense before hawking products to them.

I�m not sure what�s scarier.

Is it that this thing even exists, or that Amazon�s assumption that millions of people

are going to buy this product, is probably correct?