The new US tax law, explained with cereal

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  • Published on:  1/12/2018
  • We're a few Crunch Berries short, friends.

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    There’s a new tax law in town. It passed without a single vote from Democrats in the House or the Senate, and it’s a huge windfall for the richest Americans, including President Donald Trump.

    But Republicans didn’t just want any new tax law, they wanted to reform the tax code. To give the richest Americans a big tax cut while still funding the government’s essential functions, like building roads and flying fighter jets, the GOP needed to find tax revenue somewhere else. To do that, they had to start taxing income that used to be tax-free, by closing loopholes and eliminating deductions.

    If all of that sounds boring and confusing, fear not. We’ve broken it down in this video. Just don’t blame us if it leaves you craving cereal.
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Comment

  • Vox
    Vox  7 months ago+640

    If you want more context, read this article from our website that goes into more detail on the tax bill: http://bit.ly/2qWUe9h

    • fred white
      fred white 6 days ago

      ForrestSCS No offence but the US WAS on The gold/Silver standard that was not a workable solution and so we went of the standard [The government Prints the money and same goes for those companies which have license however more money leads to a devalue in the currency due to inflation it is Government issued in the real world [take for instance the British Pound Stirling or the Galleon Those are Government issued currencies Have you even looked up the Dictionary's saying on currency ? Currency is LEGAL tender [Before it was a Bartering system NOT The current system we have now] During the gold standard you could walk up to a Bank teller with a Gold note and ask for the amount of gold that the gold note is worth but it was still taxed either way Next time you move to an area of China or something let me remind you of this the Power Network and Military are Government Operated/Maintained that means that it needs funds to be maintained and if there is no funds there is no maintaince [this is where the Supposed theft Comes in as it says in this video That for one you pay Teachers the Military the State Road infastructure maintiance crews with those funds [is not stealing if it goes for the good of the community in terms of funds

    • Mediocrity !
      Mediocrity ! 27 days ago

      Oh boy, a leftist popular channel! Haven't seen one of *THOSE* in a while. Oh wait, what was that one, it was called... yeah! *EVERY CHANNEL EVER*.

    • علي الحبسي
      علي الحبسي 1 months ago+1

      Vox lets see what will happen

    • I am the Senate
      I am the Senate 2 months ago

      Vox you lied in this video

    • Homie Kitten
      Homie Kitten 3 months ago

      Vox as a republican this video proves how democrat YouTube channels know absolutely nothing about what the republicans want. I personally want a constant number of the percent that comes from a citezen bank account to not change based off of how much money is in the bank account.

    • Homie Kitten
      Homie Kitten 3 months ago

      Vox the government can make cut backs this is a easy to solve problem.

    • Dusty Warren
      Dusty Warren 4 months ago

      Vox Kill the government and all rich people rebel

    • Truth Seeker
      Truth Seeker 5 months ago

      Thanks. I pass!

    • Eric Munoz
      Eric Munoz 6 months ago

      Not a credible news source at all. Liberal influence from a mile away

    • Bradley Simpson
      Bradley Simpson 6 months ago

      Vox got be the worst way to explain this.

  • trey lantz
    trey lantz 2 hours ago

    The rich benefit more while at the same time paying hundreds of thousands more in taxes than the poor. How stupid can liberals be. The poor is paying way less than the rich and they are still complaining. How stupid

  • Ethan Brawley
    Ethan Brawley 3 hours ago

    Or the government spends less

  • I love noodles
    I love noodles 9 hours ago

    Cereal analogy is common core, this is what libs and dems wanted so this is we got.
    Nonetheless,
    This analogy isn't true when it talks about the gov. not having enough for what it needs because new tax laws and reforms will take place yo counter act and also make up for that.
    When we have a new POTUS, all of this might get un done anyway or gov. will see that this way isn't working the way they thought, and they will change it.
    This video left out a lot of info!!

  • Paul Tremblay
    Paul Tremblay 13 hours ago

    Wealthiest pay less and increase of with more future taxes to pay.
    Very bright, thank you all the trump supporters, you nailed it

  • Guilherme Fernandes

    2:07 if you pay more taxes, you benefit more from reductions, ever heard of proportions?

  • gaelio bauduin
    gaelio bauduin 2 days ago

    Well its a sunday evening and Im hungry for some cereal

  • Astrologer Dawn
    Astrologer Dawn 4 days ago

    Has anybody thought about what happens when there is a Democratic President, House, and Senate and they can change all of these tax bills in place now to what they want? I mean Trump is dismantling anything that has to do with Obama. Doesn't that mean when a Democratic President gets in office, she is going to dismantle all of Trumps Bills and everything he believes he's accomplished? Isn't that the game they all play?

  • Conner Grant
    Conner Grant 5 days ago

    with less government programs less tax would be less of a problem

  • xem lol
    xem lol 5 days ago

    Your explanation does not make any sense

  • Pile Of Crap
    Pile Of Crap 5 days ago

    everyone is so triggered that vox uses cereal as a stand in for money
    like seriously
    how does turning money into cereal make something easier to understand?
    it is demeaning to be honest though.

  • Minor thought
    Minor thought 6 days ago

    The Democrats want the tax payers to spend on all these unnecessary things that government should not play a part in (to be fair so do Republicans bit less so) that's why the debt is so high we need less spending instead of more taking

  • Stock Market Analyst
    Stock Market Analyst 6 days ago+1

    What about tax havens ??

  • tod washere
    tod washere 7 days ago

    It insensitives small buisnesses

  • Mankedemes
    Mankedemes 7 days ago

    Has noone heard of this thing called, "budgeting"?

  • Andrew Stirling
    Andrew Stirling 7 days ago

    **Sigh** Republicans unfortunately have absolutely no sense of eliminating the national debt. I am aaaaallllllllll in favor of tax reductions, the transition to a flat, consistent tax rate, and getting rid of the income tax. But unless the government is shrunk in its presence and influence over our lives, the debt will continue to be a Herculean problem.

  • amiels email
    amiels email 7 days ago

    There's a few problems with this, first of all the government is already in debt, secondly if we cut foreign aid which we should anyway and stopped giving military support for half of Europe we wouldn't need so much money and this would work great. also with artificial intelligence on the rise we have the same public service for much cheaper and need even less money

  • Happy Fakeboulder
    Happy Fakeboulder 7 days ago

    just... why...

  • Chris Loftus
    Chris Loftus 10 days ago

    I think it’s funny that they’re trying to make it look like this is a bad thing.

  • William Tyler
    William Tyler 10 days ago

    Only liberals would complain about everyone getting to keep more of their own money lol