It's Night Side with Dan Ray on WBS, Boston's news radio.
You know, I like the way the Cole said it's Friday night. What exactly was she saying? What was isn Cole still there? Robes, I'm here, I'm here. What were you insinuating? Well, usually Friday night is a little more laid back, relaxed. You know, you chill out, you have your snacks, your beer or whatever. I don't know, whoa, whoa, whoa.
Maybe you've got one down the hall.
I don't have one over here, I know. I mean listen, I know radio back in the old days, that was part of the routine. Not anymore. Yeah, no, we're not that way. Well, I know, coming up though, Nicole, it's going to be very interesting because at ten o'clock we are going to break down with Karen Reid. Had to say, so, Karen Reid is going to be speaking on ABC TV beginning at nine o'clock. At ten, We're going to bring in some experts. We're going to start to break it down.
So it's not your normal laid back Friday night, No, that is it is. But that's going to be interesting to see her side of the story that is going to get a massive rating, and we're going to kind of do a postgame show on it. Okay, So that's what we have coming up tonight. So feel free when you get home if you want to pop a couple of frosties. Yes for you, Yes, okay, thank you, and listen to what our attorney friends have to say.
You bet.
I'm on it all right, Nicole, have a good weekend. Thanks all right. So, yes, this is the final show of Tangwae filling in for Dan Ray on night's side. Some of you will be very happy about this that Dan will be back on Monday. I understand that. Good for you. So there you have it. We do have a very interesting show coming up tonight. We are going to talk about Kamala Harris's tax plan and account and Monica Hengersbach is going to join us from Decision Financial Services.
A lot of aspects here. I'm going to try to dumb it down. Look, when it comes to taxes and accounting, you get a n ice scream headache. I get it. But we're just going to try to dumb this thing down. And I can tell you, excuse me, just have to sneeze dif from it. My god, I can tell you this, if you got a lot of money, you're not gonna like it. No surprise, no surprise there, especially with their capital gains recommendation. So we'll talk to Monica about that.
That's coming up. At eight thirty, we'll get to talk to Jackson Tolliver, one of the young and rising stars in Boston sports media and a former student of Gary Tangley at Emerson College Fund University, talking about Mayo, girod Mayo, my boy, my buddy. It's a great guy. Durrod Mayo is a great guy, my buddy down there at the New England Patriots, and I really hope he does well and I hope people stick with him. We'll talk to him about Mayo, also about the upcoming Celtic season that's
coming up at nine o'clock. Then at nine thirty, we're going to talk to my old friend Robin Dawson. Robin Dawson of the Boston Film Festival. It has been going on for forty years, can you believe it? For forty years. We're going to talk to her about the what's on the docket for the Boston Film Festival that's coming up September nineteenth to the twenty third and a terrific movie directed by Erica Ronson called any Day Now and it
is it's based on the Gardner Museum art heists. It's a comedy and it's a terrific film, and it's based on what may have happened in the mind of the writer Eric, who is a very creative mind and has a very creative vision for this. So we're going to talk to Eric. Coming up at nine to forty five on that. Paul Guilfoyle, who is a Boston guy, you remember him from CSI Vegas played the detective on CSI going to He's in the film. He's terrific. He's going to be great in this movie. So we'll talk to
Eric about that. And then, like I said, coming over at ten o'clock, it's a postgame show, if you will, of the first hour of the Karen Reid special on ABC, and we will be talking with Robert George and Bill Kickham attorneys and we'll break down what she had to say in the first hour. Now, there was some discussion do we move this to eleven o'clock because it is
a two hour special. Eleven we wanted to take advantage of the time quite frankly, we wanted to get into it around ten o'clock and then we'll take some calls at eleven o'clock. And if you happen to be watching in the second hour you want to contribute, that's fine. But we didn't want to wait till eleven. We thought it was too late and we wanted to get in on the action, if you will. So that's all coming up right here on WWZ Boston's news radio, Gary tangwe
feeling it for Dan right. We had Alan Lichtman on earlier in the week. Now, Alan is the gentleman that is predicted in his according to him, has predicted the last ten presidential elections, predicted Gore would win, and he still feels Gore did win, but then decided to give it up and didn't fight it any longer. But you can't say he has predicted nine of the last ten elections. And you want to have an asterisk on the Gore Bush thing, go ahead. The guy is pretty nails. He's
been on the money. He predicted Trump would win, and then he predicted that Trump would lose, and his prediction has come out for this election. Let's roll it.
Rob According to the keys to the White House, which has been right for forty years. We are going to have a president breaking victory, Kamala Harris president of the United States.
Well, they have it, and the poll seemed to be leaning that way. I mean, she certainly has the momentum. I mean, don't you think your folks, I mean, she has the momentum. And I think the reason I think Harris is going to win too. Now, I think she's going to be a great president. I have no idea. She doesn't have a track record, she didn't have any experience.
But I think the brats, which are the eighteen, nineteen, twenty twenty two year old kids who were't going to vote and are now going to vote and may not even know what she stands for. They don't even care about the tax situation or if she's extreme to the left. They just like her. They like her, they like her smile, they think she's cool, and that's it. And I think that it's the young vote that's going to be the difference. I mean, I don't think Trump. Trump has his people.
That's not going to change. I think Harri's coming in to take over for Biden, reenergize the Democratic Party, and brought in some young people that are going to make the difference. Now, Alan was asked if there is any chance that he would change his mind.
I have never changed my prediction once I've made a final call. The notion of an October surprise is a myth. A my predictions have been before the October surprise, and they have all held. Social unrest doesn't suddenly emerge. It takes a long time for that. It'd be enough social unrest to turn the key, which requires massive sustained social unrest.
With a maximum of five keys down and likely four, Harris is well short of what's needed to predict her defeat and give Donald Trump the White House.
Again. Basically, what he's saying is he has thirteen keys, and if five of the thirteen keys don't apply to Harris, she wins. And just to give you an example, you can find this online if you want to look at all thirteen keys. No recession, no social unrest, no major scandal. The challenger is not charismatic or is not a war hero. Trump certainly isn't a war hero for some people who he is charismatic, and he's already got those people. But those are the types of things that he looks at.
Also on New York Times dot Com, he also has a video where he explains it. He's quite a character, this guy. He's still participating in senior sitting in saying track races. He's in a steeple chase at seventy seven years old. He's pretty interesting guy. But nine out of ten and he says Harris is going to win. I think he's right. I think it's going to be close. But I think that's what's going to happen. I think she's energized the Democratic Party and she's brought in some
new voters that Biden could not bring in. And they weren't accounted for they weren't part of the equation before. That's the bottom line with that. So coming up next though, you know what I just hear on the news in Maryland there was another school shooting, but it involved one individual who seemed to get into a one on one battle with another student in the bathroom. Shot. The student fled the scene. The student now is in intensive care.
How do we keep I don't have the answer, but how do we keep the guns out of the hands of our kids?
Now?
With the Georgia shooting, he had an AR fifteen. There's no reason for a fourteen or a fifteen year old kid to have an AR fifteen and have a gift from his father. And now his father's going to be on trial. And we are going to get into that coming up next. Because John Miller, who was terrific he was on CNN. He is the former Deputy Commissioner of
Intelligence and counter Terrorism. This guy knows what he's talking about, and he's going to talk about the court situation with the father and one of the father's probably going to go to jail. We got some comments on that. We're going to talk about that coming up. It's just so disheartening, he really is. And also there was a football game canceled at Dover Sherbrowin. I've got some thoughts on that. That's all coming up next here on wbz's Nightside.
Now back to Dan Ray live from the Window World nights Side Studios on WBZ News Radio.
Welcome Bouck Gary Tangering for Dan Ray tonight. You're on Night Side. So the school and things, obviously, they're just so disturbing. On the local angle, a caller and an anonymous caller reported a rumor that a student was going to shoot up to school and this was into Denham High School. So they decided to cancel the dead Him High Dover Sherby Wren football game as they should now. Authorities has said, or at least Dover Sherburne has said,
this is not a credible threat. What is a credible threat? That's the problem. I mean, I understand that. The problem that authorities have is they don't want to cause panic. They don't want to be canceling a game every day. They don't want us to be held prisoner to rumors and phone calls and crank calls. But what do you do now, Because when the warning signs have been ignored, kids and teachers have died. I mean, that's what happened
here with Georgia. That's what happened. The warning signs were there. They couldn't quite nail it down, but the warning signs were there, and look what happened. So you have to look at any piece of evidence. You have to go over the top, without question. You have to have an exaggerated policy if you will. You can't take any chances if you hear of any rumor of any threat of violence or anything involving in school shooting. You got to shut it down. And I know the answer is we're
held prisoner to that. We are, But what's the alternative. You know, signs were ignored in Georgia, they just were And when the authorities tried to nail something down with Cold Gray, they just couldn't quite do it. When talking to Colin Gray, they just, you know, no, there's nothing to say here. There's no problem here. Well there was a problem and people died. I mean, no stone unturned. That's just the way it's going to be. I mean,
that is just the way it's going to be. I mean, I think that Deniman, I think Dover Shermore did the right thing. There was discussion about playing a game to be there. There should be no discussion. Somebody calls up, makes an anonymous tip, said there's going to be a school shooting. I don't care. Shut it down. That's the way we have to live for a while, as scary as it is. On CNN, I was watching this morning John Miller and former NYPD Deputy Commissioner of Intelligent and
counter Terrorism. He had this to say about the charges against the father of the Georgia shooter, Colt Gray. The father Colin Gray, as he spells it out for us here listen.
Probably three key things. First, there was the fact that his son once taken into custody as the shooter began talking to police. They say voluntarily, they say, after being mirandized, you have the right to remain silent, and has been
cooperating throughout. So a lot of information about where the guns were stored, whether that gun was his, if he had total access to it or partial access to it, certainly enough access to it to leave the house with it concealed, fully loaded, and to allegedly commit these murders.
Part one, Part two.
They conducted a search warrant at the house where they would have seen the physical setup of where and how guns were stored, whether or not they were secure, whether the ammunition was stored or secured separately. And at that same time they had the opportunity to again interview the father, who you'll recall in the earlier encounter with the Jackson County sheriff said, well, he does have access to the guns, but they're not loaded. But he wasn't clear on well
is the ammunition there? Could they be loaded? So that was that was before he had gifted allegedly this.
Child is own gun.
All of those elements taken together, if you compare it to the Crumbly case, where you know, the charging of the parents took a long time and a lot of consideration. It was based on, you know, the prosecutor first seeing a social media post and then conducting a longer, complex investigation. This came together very quickly because all the elements were there, almost in plain view.
Well, when you talk about the Crumbley situation, those parents were idiots. They brought him to school and discuss it. They said, nothing to see here, and then the next time they go to that school, their kid has killed people. I mean, come on, some people are just so freaking stupid. I mean, yes, a child should not have an AR fifteen. A high school student should not have an AR fifty. I don't even think anybody should have an AR fifteen,
which is technically a semi automatic weapon. It's not an autom weapon, but you can still barely touch the trigger and you know, fire off forty five rounds in a minute. There's no reason for a fourteen, fifteen, sixteen year old kid to have an AR fifteen. Why do these school shoots just keep happening in this country all the time. When you look at other areas of the world, it's not the case. Because we love guns. We love guns.
It's part of our mantra. It's part of our heritage, you know, and I do come from a uralary Ormain. Guns are around. Yeah, people hunt, kids hunt. But I remember some of my friends in high school getting a gun from their father. It was a twenty two. It wasn't a freaking ar fifteen. You know, nobody had good Old Rumford High School, the Mexico High School was getting a zooka for Christmas. For Christ's sake, they would get a twenty two. Now, obviously a twenty two is still
a weapon and can kill people. But it was controlled by the parents. The weapon was was concealed or was placed and locked in the home. That's not happening now. If you have children, if you have guns in your house, you have to have the ammunition separated from the weapon. You have to have the weapon locked up, and kids do not have the key period. End of story. Why is that so hard to understand? Now? Why is it?
And because of this kids can't play football tonight at Dover Sherborn between Detim and Dover Shervyn High School because of a threat. Everything shuts down because of some Some parents, like the Crumbley's and like Colin Gray are morons, absolute morons, period, end of story. Yes, the father should go to jail. Colin Gray should go to jail, just like the Crumbles. Absolutely minimum ten years. Absolutely, you know why, because that's the only thing you can do. Now. You can't do
anything with the NRA. I mean, they've still got Washington in their back pocket. It is still much too easy to get an AR fifteen or a semi automatic weapon. Totally. What's too easy? Gun rights? Gun rights? Gun rights? What about life rights? What about having a right so that I want my kid to go to school and I'm not worried about them getting shot? What about that? What about my rights with that? How can it not enter all of our minds when we take our kids to school?
How can it not insanity? Just freaking insane. The rest of the world is laughing at us, absolutely laughing at us. But boy man, we love our guns. Yeah, it's killing our kids. I mean we haven't learned our lesson yet. All the school shootings time after time after time. When are we gonna learn never never, We're not We're numb to it. People don't want to hear about it. People don't you know and listen. You have a right to bear arms if you're an adult, you're trained. You want
to carry a weapon, you're licensed. Fine, I don't have a problem with that. You feel you need a weapon to protect yourself in your home, Fine, you're an adult, you're licensed. Fine, you want to go hunting. Fine. We can't be handing out AR fifteen's to freaking teenagers. God, what is wrong with people? Hair Junior, here's a Tommy gun for Christmas? What the hell? So all I have to say about that? But no one's gonna listen to me. It's just it continues, It's gonna happen. It will continue
to happen. It's a mental health issue. It is a weapons availability issue. Yes, it's all of the above. I don't know. Maybe now maybe because parents are going to jail, some parents will smart en up. Maybe maybe they was like, well, I don't want to end up like the gray guy. I don't want to end up like the crumblings. I don't want to end up like that. I don't want to go to jail. But is that what it takes
really not to give your kid a gun. I don't want to go to jail if I give my kid a gun and he does something stupid with it, I don't want to go to jail. How about I don't think I should give my kid a gun because I want to keep people safe. And I always worry about the friends of the kid, of the teenager kids. I mean that used to happen. Hey, kids would come over, they start to play with a gun, they show that somebody a gun. Look at this, I got a good gun,
and then boom, somebody gets hurt. I just don't understand it. I don't understand it. I don't understand taxes either. I just write a check and then we go and we're off and running. Still coming up to on WBC's Night Side, We're gonna break down Kamala Harris's text plan as Monica Hangelsbach is going to join us from Decision Financial Services Plus. At ten o'clock, we will break down the first hour of Karen Reich speaking out as she was accused of
murdering her boyfriend John o'keef. She goes back on trial again in January, Bill kick him and Robert George will be joining us to break down her first hour of her side of the story that is going to be on ABC TV in Chineal five, coming up at nine o'clock. We'll be doing our postgame analysis, if you will, at ten o'clock on that boul We're going to try to simplify the tax situation with Kamala Harrison. If she gets in, like our expert, Alan Lickman says, is getting in, this
is what you want to happen with your taxes. Coming up next on WBZ It's.
Night Side with Dan Ray on WBZ Boston's News Radio.
Welcome back Gary Tangoige sitting in for Danny Tenna Dan. We'll be back on Monday, folks. So there you go. You'll have the man back on money. You'll be ready to go.
Well.
Kamala Harris Accordney to Alan Lickman, who is going to be the next president of the United States, So we have to get ready for her tax plan. Of course it'll have to go through the proper channels of Congress and the Senate and House of Representatives and so forth. But I wanted to try to break down and understand what she wants to do and obvious this. I do know she's up for the middle class and if you have a lot of money, you're probably gonna get nailed
if she gets her way. So we're bringing in tax expert CEO of Decision Financial Services, Monica Hengesbach to join us. Monica, thank you for joining us on night side.
Oh, well, thanks for having me. I appreciate it.
Well, we appreciate you coming on. Let's start with the Well, there's a couple of things here. Let's start with the child tax credit. I thought it was four thousand, but then I've read that it's six thousand, and how exactly would that work?
You know that that's actually a good question. It's mainly for parents of newborn So what she's trying to do is bring bank that pandemic era expanded child tax credit that we had where they increased it. If you had newborn children, you would get an extra couple thousand dollars, If you had kids that were under the age of seventeen, you would get a few x you know, more thousands
of dollars and things like that. So what I'm hoping so far, what I was reading during the pandemic era, they got that in a refund, which made it an absolute nightmare because some people didn't want it, and then they got it, and then they had to report it. It became a disaster when taxes were filed. So this is supposed to be a credit that she liked to give for everyone that has newborn children of six thousand dollars to go against their taxes.
And it's just too much vit And I get that. I think that's I totally get that. I'm on board with that because I don't think it breaks the bank if you will when it comes to the tax situation, and I think that it can help families. I think that can really if you have, you know, a couple of new borns, have you during a time, I mean, if it's twelve grand or six grand that you don't have to pay taxes on, I think that that can be a big help to a family. I think that
that makes sense. What do you think about that or do you have an opinion on this or you want to remain objective just as a financial consultant.
So I think that this is something that could benefit families. You know, we're in an era where both parents have to work. Now it's no longer we can't afford to have one parents stay at home, and so then the rising costs daycare to put your children in there. That was the big thing that happened when everyone was at home due to COVID. They realized how much money they were saving just in daycare alone by not by someone staying at home. But then now with inflation thing, it's
all changed. So giving this incentive to families to be able, I mean, the six thousand dollars a year, truthfully is a drop in the bucket when you really compare to what the child's care cost is out there. But I do have to agree with something like this to help families out with childcare costs is a good incentive. Yeah.
Well, I also think it's passable.
This would be passible, yes, because and I you know, that is one of the big topics that is actually making headway this year is family. Everything that both parties are coming out talking about family and family relations and doing everything for family. I mean, you've got Trump talking about now IVF, you got you know, you've got his vice president. We all know what he said. So there's we've got quite a bit where this is really making headway. And I think it is a passable tax.
Right, You're heading in the right direction. And at one point in time in this country, if you made six figures, you would well, this is work, this is great. But that's not the case anymore. And you know, speaking for myself, where I two kids in college and you know, and Sarah ques ninety thousand and this school is eighty thousand and this, you know, and you want to try to send your kids to the best schools, but it can cripple somebody. So it's not only when you're raising a family.
It's not only just taking care of the kids until they're eighteen, but what are they going to do after their eighteen? And college isn't necessary, But you still have trade schools, which I am an advocate of big time. Have you tried to get a plumber lately? Seriously? You know, I totally said that, Like, you know, there's just this unfair expectation that every kid, at least in my town, every kid has to go to college. I'm like, why, why, why does every kid have to go to college?
They know.
I do believe that you need further study. I do think you have to have a skill, you have to have something to offer unless you're a freaking genius, you know, and you can go and you know, invent Microsoft or something like that. But I think you have to have the skill, so that can be a less expensive alternative.
But if you want to try to send your kid to college, it can actually impact how many kids you want to have if you sit back and you say, okay, I want to I'd like to have big family, and then you go, well, wait a minute, it's four hundred grand to send a kid, so it's going to cost me one point two million dollars to send it go to college. You know, it's it's crazy. So anything you can do to help families, I think I just think it's the right thing to do. Not to mention the
cost of living. Of course, we live in New England where it's insane. The cost of living is just completely out of control.
So yeah, and the kids, and the kids are now coming back at home because the money that they're earning once graduating from college isn't able to afford rent, and so they're moving back with their parents with large student loan. Gad if you weren't one of the fortunate ones that planned earlier, had they except you know, residual income to put in a five twenty nine plan. Now it's taken away from the parents' ability to save money for retirement. Well, it's a vicious cycle.
Oh it's it's terrible. I mean, we did a five twenty nine. But do you know how much you have to put away? Yes, I mean you.
Do a child that's back home, Yes, right.
I mean you have to put away hundreds of thousands of dollars for post secondary education. I mean I paid twenty grand to go to the University of Maine.
You know.
It's and we don't get me started on the cost of post secondary education. I think it's a scam. I think it's just a complete scam. But I'm also not a communist where I want cost control on our school system. So I'm bitching and moaning, but I don't have a solution. You know, I don't have a solution yet. The small business tax credit was five they want to send it up to fifty thousand. I know nothing about this. I'm
not a business person. I'm you know, a lot of people, Oh, it'd be so cool, you know, we should start a business. I'm like, I don't think you realize how hard it is to start a business. So what is this all about? Is this doable? And is it a good idea?
So what this There is already a current law that you're able to write off what you just mentioned five thousand of your startup expenses right off the gate, and then up to fifty thousand, So the forty five thousand remaining Let's say you started a business, you spent fifty thousand dollars in startup costs, five thousand you can get
immediately a write off and expense it. And the current law says for the remaining forty five thousand you need to amortize that over one hundred and eighty month period. So what this new law, that tax thing that Kamila Harris wants to pass is that there is no more amortizing of it. So if you spent fifty thousand in startup expenses and your startup business, you're able to write off fifty thousand dollars in that year.
Now can you write off if you're already at a loss? So say you're you know the first is generally if you start up a new business, you're not profitable the first few years, correct, So can you so you add this onto your loss already so.
You add it onto your loss already. And you know this can get down in the minutia depends on the type of structure you're at. Well, let's just say I'm the sole providership. Mama, pop, put the shingle on the door. I have this fifty thousand dollars loss and some other losses with my new business. So let's say a total sixty thousand. I can claim the full sixty thousand dollars loss on my tax return. Now do I get that
loss if I didn't have any income? So let's say my husband doesn't have any income, it just shows a loss that sixty thousand dollars will carry forwards to the next year to go against any income that we may be reporting. Or if I do have a spouse that's working, my sixty thousand dollars will go against their income that is being reported on the tax return. And how lower our overall taxable income in the first year.
Okay, I don't know what do you think of that? The problem?
You know, I think given an incentive to you know, I tripping my opinion. This is purely my opinion. I think where we sort of got away from is the United States was built on manufacturing. I mean, we were known for manufacturing, really known for making goods, and we were known for creating jobs. I mean people were flocking to the US through Ellis Island back in the day because this was the land of opportunity, and somewhere along
the line we kind of lost that. So I think any incentives that can start help small businesses to want to it, you know, get established and started. I think is a great idea. Where I think this one fails is the fact that it gives you all of that loss as a startup. So it startup means startup. That means you haven't earned revenue, you haven't started your business.
You're just incurring all these expenses, you know, paying legal fees, maybe buying product that you're going to sell, things like that. That's what you're writing off with this fifty thousand. But then when you start to have the businesses starting to have income and maybe starting to have that profit, a lot of these small businesses are still struggling because now they're paying self employment tax, they're paying all of this higher taps, and they have no ride off. They have
no incentive or anything that can go against it. So with something like this. I sort of struggled because I don't see the benefit that's going to help the small businesses in the long run. I just think this is a one and done type of credit and then they're on their own.
Well, that's a very good point, and I want to I want you to elaborate on that. We're going to continue that conversation. Then we're going to get into the big one, the big answer, the big ench, a lot of the capital gains. That's that's a hot one, and quite frankly, I think that has a snowballs chance in hell of passing. But we'll talk about it coming next on wbz's night Side.
Now back to Dan Ray live from the Window World night Side Studios on WBZ News Radio.
Okay, tax expert Monica Hegersbach is joining us from the Decision Financial Services. Wanted to continue to talk about this small business credit. You're mentioning fifty with the Kamala Harris platform, fifty thousand dollars tax credit for startup businesses. But you're right,
and it's an excellent point. There are so many small businesses that are struggling out there, and why not help them and take care of what you already have as opposed to flood the market by creating more small businesses when possibly right now the economy can't support it all.
Yeah, and there's a concern. I mean you see it quite often. You see restaurants that are closing, you know, the mama pops or the little boutiques or things like that that these mom and pops have put it out because they just can't they can't compete. They have to sell their wares at a lot of a higher price. You know, we have wages that are going up, payroll taxes, you can't compete. You need to offer employee benefits, all of this kind of stuff. But yet there is no
tax incentive for those small businesses. So, like I said, this startup expense really helps just the ones that are physically starting up. They just literally put the shingle out of the door.
What about small business Now, there was a point in time in America where it was very important, but as you just mentioned, it's so hard to compete when you take a look at the job the mega giants. If you will, I mean, I'll just point to Amazon because I think it's the perfect example. There's a lot of things on Amazon that I could get that I used to run to the corner store to pick up exactly, and you don't because you just hit a button and
it shows up at your doorstep. Laundry detergent, for example, say you're out a laundry detergent, you'd run that. Like we had a store at the anniversary Robin's General Store, right. I lived in a very rural area. It was six miles from the old save more, so instead I would go to the Robin's store to pick up I don't know, some laundry detergent, or you know, milk if you will, milk's not coming from Amazon. But now you don't need
to do that. I think it's I don't know, is there an I guess what I'm asking is is there a need for small business? Is there enough of a consumer need for the small business?
I believe there is. I think if we if we get rid of small business, we're going to I believe we're going to crush the economy. Small businesses has been the essential foundation for for everything. It's it's unfortunate. It's their ideas and their thought that has brought about a lot of stuff. I mean, think about Microsoft now, it's a huge corporation, but that just started with a small thought of a couple of guys starting that industry.
So the same thing with Amazon. He was selling books, I know, yeah, a book selling, but Netflix was selling DVDs.
Correct. So it's like that that really is what we built our economy upon. And so we have to remember the small business and the incentive because they're really the ones that are out there hiring. Every time there's a glitch in the economy, Oh we're going to an inflation or there's just an inkling of a recession. You hear these large corporations laying off thousands of people, but you see the mom and pops just hanging on to the people that they have right and trying to give them
what they can. So I really believe that what's going to really build up the United States again is supporting our small businesses. We really need to start supporting them.
Tax EXPERTNA Monica Hengersback is joining us here on WBC's Night Side. Okay, let's get to the gorilla in the room here, the dinosaur or whatever. Twenty eight percent capital gains tax for wealthy Americans, and right now it's at seventeen And I know people like Warren Buffett have come out and have said, you know, listen, it's ridiculous that somebody like a Warren Buffett only has to pay seventy percent tax because of all the different maneuvers they can
do with their income. Twenty eight percent sounds high, and I think she's going to have a tough time with that. What do you think.
I think it's going to be very difficult because I think if people are and again you know, this is based upon if you make a million or more of taxable income, not just income, taxable income, so that is, after all of your write off, your taxable income is a million more, your capital gains would be at that
twenty eight percent. But even then it's I think if they're paying twenty eight percent, then they're not going to be that willing to invest in the market, in stock, in real estate, in any of these other these other items. I think it's going to spur them away from doing that, investing elsewhere where they don't have to pay the twenty eight percent, and that could hinder the economy as well.
So I just like her tax that she wanted to do on unrealized gains, and when when that came out I'm like, I didn't even bother reading it because I'm like, oh, there's no way in the world that's even going to remotely get an ink. So, you know, she did lower it than what Biden said. Biden wanted capital gains to be taxed at the highest ordinary income tax rate, and she's obviously saying one, I don't agree with that, but I'm I'm going to push it to this twenty eight percent.
I think that's going to be a big battle, and I don't think she's going to stand a chance to get that. And if she does get that, there's going to be some battle because she also wants to increase the corporate tax rate from twenty one percent to twenty eight percent. So which one do you want more? Do you want the corporate rate being twenty eight percent, Then then you can't tax the shareholders at twenty eight percent either, So you're going to have to pick and choose here.
So I don't think she's going to be able to pass that one, you know.
I mean, I'm a listen, I'm a registered Democrat. I voted both ways. But when you when you talk about increasing taxings on companies from twenty one percent to twenty eight percent. I mean that's why they leave, you know, it's it's such a balance. You know, you just have to play ball with the bosses. You just do, you know you do, and I understand. You know what people that my dad worked in a paper mill. You know, my mom stayed at home. We had one used car.
I mean, I get it. But the people that make the money, if you the people that have the money that start the businesses and own the businesses, if you don't play ball with them, you could get screwed as well. Well. I think what's going to happen is the twenty eight percent will be a political planing because she probably won't get it past, but she can probably she can say that she tried. Monica, thank you so much. You have
been very helpful. Monica Hengersbach at Decision Financial Services. Do you have a website?
I do, It's Decision financial dot com and or a podcast. You can listen to me on the Wealthy Wallet.
The Wealthy I like that name, The Wealthy Wallet. That's quick, snappy and tells you what it is. All right, Monica, have a good night you two.
Thank you all right, thanks.
For joining us. Monica Hengersbach from Decision Financial Services, talking about the tax situation with Kamala Harris. Got a lot still to do here now, I'm not still. We know a lot of people are going to be paying attention to what's going on with Karen Reid because at nine o'clock on television, she's going to be starting to tell her side of the story. We are going to continue here on the radio talking sports with Jackson Tolliver about
the Patriots and the Celtics. Also, we'll get into the Boston Film Festival and a terrific movie that's going to be shown at the Boston Film Festival that's coming up at the next hour. Then at ten o'clock, we will do a little post game on the Karen Reid story right here on WBC's Night Side. All right, talk to the other side, get into some sports.