Speaker 1: It's Night Side with Dan Ray on WBS, Boston's news radio.
Speaker 2: You know, I like the way the Cole said it's
Speaker 2: Friday night. What exactly was she saying? What was isn
Speaker 2: Cole still there? Robes, I'm here, I'm here. What were
Speaker 2: you insinuating? Well, usually Friday night is a little more
Speaker 2: laid back, relaxed. You know, you chill out, you have
Speaker 2: your snacks, your beer or whatever. I don't know, whoa, whoa, whoa.
Speaker 1: Maybe you've got one down the hall.
Speaker 2: I don't have one over here, I know. I mean listen,
Speaker 2: I know radio back in the old days, that was
Speaker 2: part of the routine. Not anymore. Yeah, no, we're not
Speaker 2: that way. Well, I know, coming up though, Nicole, it's
Speaker 2: going to be very interesting because at ten o'clock we
Speaker 2: are going to break down with Karen Reid. Had to say, so,
Speaker 2: Karen Reid is going to be speaking on ABC TV
Speaker 2: beginning at nine o'clock. At ten, We're going to bring
Speaker 2: in some experts. We're going to start to break it down.
Speaker 2: So it's not your normal laid back Friday night, No,
Speaker 2: that is it is. But that's going to be interesting
Speaker 2: to see her side of the story that is going
Speaker 2: to get a massive rating, and we're going to kind
Speaker 2: of do a postgame show on it. Okay, So that's
Speaker 2: what we have coming up tonight. So feel free when
Speaker 2: you get home if you want to pop a couple
Speaker 2: of frosties. Yes for you, Yes, okay, thank you, and
Speaker 2: listen to what our attorney friends have to say.
Speaker 1: You bet.
Speaker 2: I'm on it all right, Nicole, have a good weekend.
Speaker 2: Thanks all right. So, yes, this is the final show
Speaker 2: of Tangwae filling in for Dan Ray on night's side.
Speaker 2: Some of you will be very happy about this that
Speaker 2: Dan will be back on Monday. I understand that. Good
Speaker 2: for you. So there you have it. We do have
Speaker 2: a very interesting show coming up tonight. We are going
Speaker 2: to talk about Kamala Harris's tax plan and account and
Speaker 2: Monica Hengersbach is going to join us from Decision Financial Services.
Speaker 2: A lot of aspects here. I'm going to try to
Speaker 2: dumb it down. Look, when it comes to taxes and accounting,
Speaker 2: you get a n ice scream headache. I get it.
Speaker 2: But we're just going to try to dumb this thing down.
Speaker 2: And I can tell you, excuse me, just have to
Speaker 2: sneeze dif from it. My god, I can tell you this,
Speaker 2: if you got a lot of money, you're not gonna
Speaker 2: like it. No surprise, no surprise there, especially with their
Speaker 2: capital gains recommendation. So we'll talk to Monica about that.
Speaker 2: That's coming up. At eight thirty, we'll get to talk
Speaker 2: to Jackson Tolliver, one of the young and rising stars
Speaker 2: in Boston sports media and a former student of Gary
Speaker 2: Tangley at Emerson College Fund University, talking about Mayo, girod Mayo,
Speaker 2: my boy, my buddy. It's a great guy. Durrod Mayo
Speaker 2: is a great guy, my buddy down there at the
Speaker 2: New England Patriots, and I really hope he does well
Speaker 2: and I hope people stick with him. We'll talk to
Speaker 2: him about Mayo, also about the upcoming Celtic season that's
Speaker 2: coming up at nine o'clock. Then at nine thirty, we're
Speaker 2: going to talk to my old friend Robin Dawson. Robin
Speaker 2: Dawson of the Boston Film Festival. It has been going
Speaker 2: on for forty years, can you believe it? For forty years.
Speaker 2: We're going to talk to her about the what's on
Speaker 2: the docket for the Boston Film Festival that's coming up
Speaker 2: September nineteenth to the twenty third and a terrific movie
Speaker 2: directed by Erica Ronson called any Day Now and it
Speaker 2: is it's based on the Gardner Museum art heists. It's
Speaker 2: a comedy and it's a terrific film, and it's based
Speaker 2: on what may have happened in the mind of the
Speaker 2: writer Eric, who is a very creative mind and has
Speaker 2: a very creative vision for this. So we're going to
Speaker 2: talk to Eric. Coming up at nine to forty five
Speaker 2: on that. Paul Guilfoyle, who is a Boston guy, you
Speaker 2: remember him from CSI Vegas played the detective on CSI
Speaker 2: going to He's in the film. He's terrific. He's going
Speaker 2: to be great in this movie. So we'll talk to
Speaker 2: Eric about that. And then, like I said, coming over
Speaker 2: at ten o'clock, it's a postgame show, if you will,
Speaker 2: of the first hour of the Karen Reid special on ABC,
Speaker 2: and we will be talking with Robert George and Bill
Speaker 2: Kickham attorneys and we'll break down what she had to
Speaker 2: say in the first hour. Now, there was some discussion
Speaker 2: do we move this to eleven o'clock because it is
Speaker 2: a two hour special. Eleven we wanted to take advantage
Speaker 2: of the time quite frankly, we wanted to get into
Speaker 2: it around ten o'clock and then we'll take some calls
Speaker 2: at eleven o'clock. And if you happen to be watching
Speaker 2: in the second hour you want to contribute, that's fine.
Speaker 2: But we didn't want to wait till eleven. We thought
Speaker 2: it was too late and we wanted to get in
Speaker 2: on the action, if you will. So that's all coming
Speaker 2: up right here on WWZ Boston's news radio, Gary tangwe
Speaker 2: feeling it for Dan right. We had Alan Lichtman on
Speaker 2: earlier in the week. Now, Alan is the gentleman that
Speaker 2: is predicted in his according to him, has predicted the
Speaker 2: last ten presidential elections, predicted Gore would win, and he
Speaker 2: still feels Gore did win, but then decided to give
Speaker 2: it up and didn't fight it any longer. But you
Speaker 2: can't say he has predicted nine of the last ten elections.
Speaker 2: And you want to have an asterisk on the Gore
Speaker 2: Bush thing, go ahead. The guy is pretty nails. He's
Speaker 2: been on the money. He predicted Trump would win, and
Speaker 2: then he predicted that Trump would lose, and his prediction
Speaker 2: has come out for this election. Let's roll it.
Speaker 3: Rob According to the keys to the White House, which
Speaker 3: has been right for forty years. We are going to
Speaker 3: have a president breaking victory, Kamala Harris president of the
Speaker 3: United States.
Speaker 2: Well, they have it, and the poll seemed to be
Speaker 2: leaning that way. I mean, she certainly has the momentum.
Speaker 2: I mean, don't you think your folks, I mean, she
Speaker 2: has the momentum. And I think the reason I think
Speaker 2: Harris is going to win too. Now, I think she's
Speaker 2: going to be a great president. I have no idea.
Speaker 2: She doesn't have a track record, she didn't have any experience.
Speaker 2: But I think the brats, which are the eighteen, nineteen,
Speaker 2: twenty twenty two year old kids who were't going to
Speaker 2: vote and are now going to vote and may not
Speaker 2: even know what she stands for. They don't even care
Speaker 2: about the tax situation or if she's extreme to the left.
Speaker 2: They just like her. They like her, they like her smile,
Speaker 2: they think she's cool, and that's it. And I think
Speaker 2: that it's the young vote that's going to be the difference.
Speaker 2: I mean, I don't think Trump. Trump has his people.
Speaker 2: That's not going to change. I think Harri's coming in
Speaker 2: to take over for Biden, reenergize the Democratic Party, and
Speaker 2: brought in some young people that are going to make
Speaker 2: the difference. Now, Alan was asked if there is any
Speaker 2: chance that he would change his mind.
Speaker 3: I have never changed my prediction once I've made a
Speaker 3: final call. The notion of an October surprise is a myth.
Speaker 3: A my predictions have been before the October surprise, and
Speaker 3: they have all held. Social unrest doesn't suddenly emerge. It
Speaker 3: takes a long time for that. It'd be enough social
Speaker 3: unrest to turn the key, which requires massive sustained social unrest.
Speaker 3: With a maximum of five keys down and likely four,
Speaker 3: Harris is well short of what's needed to predict her
Speaker 3: defeat and give Donald Trump the White House.
Speaker 2: Again. Basically, what he's saying is he has thirteen keys,
Speaker 2: and if five of the thirteen keys don't apply to Harris,
Speaker 2: she wins. And just to give you an example, you
Speaker 2: can find this online if you want to look at
Speaker 2: all thirteen keys. No recession, no social unrest, no major scandal.
Speaker 2: The challenger is not charismatic or is not a war hero.
Speaker 2: Trump certainly isn't a war hero for some people who
Speaker 2: he is charismatic, and he's already got those people. But
Speaker 2: those are the types of things that he looks at.
Speaker 2: Also on New York Times dot Com, he also has
Speaker 2: a video where he explains it. He's quite a character,
Speaker 2: this guy. He's still participating in senior sitting in saying
Speaker 2: track races. He's in a steeple chase at seventy seven
Speaker 2: years old. He's pretty interesting guy. But nine out of
Speaker 2: ten and he says Harris is going to win. I
Speaker 2: think he's right. I think it's going to be close.
Speaker 2: But I think that's what's going to happen. I think
Speaker 2: she's energized the Democratic Party and she's brought in some
Speaker 2: new voters that Biden could not bring in. And they
Speaker 2: weren't accounted for they weren't part of the equation before.
Speaker 2: That's the bottom line with that. So coming up next though,
Speaker 2: you know what I just hear on the news in
Speaker 2: Maryland there was another school shooting, but it involved one
Speaker 2: individual who seemed to get into a one on one
Speaker 2: battle with another student in the bathroom. Shot. The student
Speaker 2: fled the scene. The student now is in intensive care.
Speaker 2: How do we keep I don't have the answer, but
Speaker 2: how do we keep the guns out of the hands
Speaker 2: of our kids?
Speaker 1: Now?
Speaker 2: With the Georgia shooting, he had an AR fifteen. There's
Speaker 2: no reason for a fourteen or a fifteen year old
Speaker 2: kid to have an AR fifteen and have a gift
Speaker 2: from his father. And now his father's going to be
Speaker 2: on trial. And we are going to get into that
Speaker 2: coming up next. Because John Miller, who was terrific he
Speaker 2: was on CNN. He is the former Deputy Commissioner of
Speaker 2: Intelligence and counter Terrorism. This guy knows what he's talking about,
Speaker 2: and he's going to talk about the court situation with
Speaker 2: the father and one of the father's probably going to
Speaker 2: go to jail. We got some comments on that. We're
Speaker 2: going to talk about that coming up. It's just so disheartening,
Speaker 2: he really is. And also there was a football game
Speaker 2: canceled at Dover Sherbrowin. I've got some thoughts on that.
Speaker 2: That's all coming up next here on wbz's Nightside.
Speaker 1: Now back to Dan Ray live from the Window World
Speaker 1: nights Side Studios on WBZ News Radio.
Speaker 2: Welcome Bouck Gary Tangering for Dan Ray tonight. You're on
Speaker 2: Night Side. So the school and things, obviously, they're just
Speaker 2: so disturbing. On the local angle, a caller and an
Speaker 2: anonymous caller reported a rumor that a student was going
Speaker 2: to shoot up to school and this was into Denham
Speaker 2: High School. So they decided to cancel the dead Him
Speaker 2: High Dover Sherby Wren football game as they should now.
Speaker 2: Authorities has said, or at least Dover Sherburne has said,
Speaker 2: this is not a credible threat. What is a credible threat?
Speaker 2: That's the problem. I mean, I understand that. The problem
Speaker 2: that authorities have is they don't want to cause panic.
Speaker 2: They don't want to be canceling a game every day.
Speaker 2: They don't want us to be held prisoner to rumors
Speaker 2: and phone calls and crank calls. But what do you
Speaker 2: do now, Because when the warning signs have been ignored,
Speaker 2: kids and teachers have died. I mean, that's what happened
Speaker 2: here with Georgia. That's what happened. The warning signs were there.
Speaker 2: They couldn't quite nail it down, but the warning signs
Speaker 2: were there, and look what happened. So you have to
Speaker 2: look at any piece of evidence. You have to go
Speaker 2: over the top, without question. You have to have an
Speaker 2: exaggerated policy if you will. You can't take any chances
Speaker 2: if you hear of any rumor of any threat of
Speaker 2: violence or anything involving in school shooting. You got to
Speaker 2: shut it down. And I know the answer is we're
Speaker 2: held prisoner to that. We are, But what's the alternative.
Speaker 2: You know, signs were ignored in Georgia, they just were
Speaker 2: And when the authorities tried to nail something down with
Speaker 2: Cold Gray, they just couldn't quite do it. When talking
Speaker 2: to Colin Gray, they just, you know, no, there's nothing
Speaker 2: to say here. There's no problem here. Well there was
Speaker 2: a problem and people died. I mean, no stone unturned.
Speaker 2: That's just the way it's going to be. I mean,
Speaker 2: that is just the way it's going to be. I mean,
Speaker 2: I think that Deniman, I think Dover Shermore did the
Speaker 2: right thing. There was discussion about playing a game to
Speaker 2: be there. There should be no discussion. Somebody calls up,
Speaker 2: makes an anonymous tip, said there's going to be a
Speaker 2: school shooting. I don't care. Shut it down. That's the
Speaker 2: way we have to live for a while, as scary
Speaker 2: as it is. On CNN, I was watching this morning
Speaker 2: John Miller and former NYPD Deputy Commissioner of Intelligent and
Speaker 2: counter Terrorism. He had this to say about the charges
Speaker 2: against the father of the Georgia shooter, Colt Gray. The
Speaker 2: father Colin Gray, as he spells it out for us
Speaker 2: here listen.
Speaker 4: Probably three key things. First, there was the fact that
Speaker 4: his son once taken into custody as the shooter began
Speaker 4: talking to police. They say voluntarily, they say, after being mirandized,
Speaker 4: you have the right to remain silent, and has been
Speaker 4: cooperating throughout. So a lot of information about where the
Speaker 4: guns were stored, whether that gun was his, if he
Speaker 4: had total access to it or partial access to it,
Speaker 4: certainly enough access to it to leave the house with
Speaker 4: it concealed, fully loaded, and to allegedly commit these murders.
Speaker 2: Part one, Part two.
Speaker 4: They conducted a search warrant at the house where they
Speaker 4: would have seen the physical setup of where and how
Speaker 4: guns were stored, whether or not they were secure, whether
Speaker 4: the ammunition was stored or secured separately. And at that
Speaker 4: same time they had the opportunity to again interview the father,
Speaker 4: who you'll recall in the earlier encounter with the Jackson
Speaker 4: County sheriff said, well, he does have access to the guns,
Speaker 4: but they're not loaded. But he wasn't clear on well
Speaker 4: is the ammunition there? Could they be loaded? So that
Speaker 4: was that was before he had gifted allegedly this.
Speaker 2: Child is own gun.
Speaker 4: All of those elements taken together, if you compare it
Speaker 4: to the Crumbly case, where you know, the charging of
Speaker 4: the parents took a long time and a lot of consideration.
Speaker 4: It was based on, you know, the prosecutor first seeing
Speaker 4: a social media post and then conducting a longer, complex investigation.
Speaker 4: This came together very quickly because all the elements were there,
Speaker 4: almost in plain view.
Speaker 2: Well, when you talk about the Crumbley situation, those parents
Speaker 2: were idiots. They brought him to school and discuss it.
Speaker 2: They said, nothing to see here, and then the next
Speaker 2: time they go to that school, their kid has killed people.
Speaker 2: I mean, come on, some people are just so freaking stupid.
Speaker 2: I mean, yes, a child should not have an AR fifteen.
Speaker 2: A high school student should not have an AR fifty.
Speaker 2: I don't even think anybody should have an AR fifteen,
Speaker 2: which is technically a semi automatic weapon. It's not an
Speaker 2: autom weapon, but you can still barely touch the trigger
Speaker 2: and you know, fire off forty five rounds in a minute.
Speaker 2: There's no reason for a fourteen, fifteen, sixteen year old
Speaker 2: kid to have an AR fifteen. Why do these school
Speaker 2: shoots just keep happening in this country all the time.
Speaker 2: When you look at other areas of the world, it's
Speaker 2: not the case. Because we love guns. We love guns.
Speaker 2: It's part of our mantra. It's part of our heritage,
Speaker 2: you know, and I do come from a uralary Ormain.
Speaker 2: Guns are around. Yeah, people hunt, kids hunt. But I
Speaker 2: remember some of my friends in high school getting a
Speaker 2: gun from their father. It was a twenty two. It
Speaker 2: wasn't a freaking ar fifteen. You know, nobody had good
Speaker 2: Old Rumford High School, the Mexico High School was getting
Speaker 2: a zooka for Christmas. For Christ's sake, they would get
Speaker 2: a twenty two. Now, obviously a twenty two is still
Speaker 2: a weapon and can kill people. But it was controlled
Speaker 2: by the parents. The weapon was was concealed or was
Speaker 2: placed and locked in the home. That's not happening now.
Speaker 2: If you have children, if you have guns in your house,
Speaker 2: you have to have the ammunition separated from the weapon.
Speaker 2: You have to have the weapon locked up, and kids
Speaker 2: do not have the key period. End of story. Why
Speaker 2: is that so hard to understand? Now? Why is it?
Speaker 2: And because of this kids can't play football tonight at
Speaker 2: Dover Sherborn between Detim and Dover Shervyn High School because
Speaker 2: of a threat. Everything shuts down because of some Some parents,
Speaker 2: like the Crumbley's and like Colin Gray are morons, absolute morons, period,
Speaker 2: end of story. Yes, the father should go to jail.
Speaker 2: Colin Gray should go to jail, just like the Crumbles.
Speaker 2: Absolutely minimum ten years. Absolutely, you know why, because that's
Speaker 2: the only thing you can do. Now. You can't do
Speaker 2: anything with the NRA. I mean, they've still got Washington
Speaker 2: in their back pocket. It is still much too easy
Speaker 2: to get an AR fifteen or a semi automatic weapon. Totally.
Speaker 2: What's too easy? Gun rights? Gun rights? Gun rights? What
Speaker 2: about life rights? What about having a right so that
Speaker 2: I want my kid to go to school and I'm
Speaker 2: not worried about them getting shot? What about that? What
Speaker 2: about my rights with that? How can it not enter
Speaker 2: all of our minds when we take our kids to school?
Speaker 2: How can it not insanity? Just freaking insane. The rest
Speaker 2: of the world is laughing at us, absolutely laughing at us.
Speaker 2: But boy man, we love our guns. Yeah, it's killing
Speaker 2: our kids. I mean we haven't learned our lesson yet.
Speaker 2: All the school shootings time after time after time. When
Speaker 2: are we gonna learn never never, We're not We're numb
Speaker 2: to it. People don't want to hear about it. People
Speaker 2: don't you know and listen. You have a right to
Speaker 2: bear arms if you're an adult, you're trained. You want
Speaker 2: to carry a weapon, you're licensed. Fine, I don't have
Speaker 2: a problem with that. You feel you need a weapon
Speaker 2: to protect yourself in your home, Fine, you're an adult,
Speaker 2: you're licensed. Fine, you want to go hunting. Fine. We
Speaker 2: can't be handing out AR fifteen's to freaking teenagers. God,
Speaker 2: what is wrong with people? Hair Junior, here's a Tommy
Speaker 2: gun for Christmas? What the hell? So all I have
Speaker 2: to say about that? But no one's gonna listen to me.
Speaker 2: It's just it continues, It's gonna happen. It will continue
Speaker 2: to happen. It's a mental health issue. It is a
Speaker 2: weapons availability issue. Yes, it's all of the above. I
Speaker 2: don't know. Maybe now maybe because parents are going to jail,
Speaker 2: some parents will smart en up. Maybe maybe they was like, well,
Speaker 2: I don't want to end up like the gray guy.
Speaker 2: I don't want to end up like the crumblings. I
Speaker 2: don't want to end up like that. I don't want
Speaker 2: to go to jail. But is that what it takes
Speaker 2: really not to give your kid a gun. I don't
Speaker 2: want to go to jail if I give my kid
Speaker 2: a gun and he does something stupid with it, I
Speaker 2: don't want to go to jail. How about I don't
Speaker 2: think I should give my kid a gun because I
Speaker 2: want to keep people safe. And I always worry about
Speaker 2: the friends of the kid, of the teenager kids. I
Speaker 2: mean that used to happen. Hey, kids would come over,
Speaker 2: they start to play with a gun, they show that
Speaker 2: somebody a gun. Look at this, I got a good gun,
Speaker 2: and then boom, somebody gets hurt. I just don't understand it.
Speaker 2: I don't understand it. I don't understand taxes either. I
Speaker 2: just write a check and then we go and we're
Speaker 2: off and running. Still coming up to on WBC's Night Side,
Speaker 2: We're gonna break down Kamala Harris's text plan as Monica
Speaker 2: Hangelsbach is going to join us from Decision Financial Services Plus.
Speaker 2: At ten o'clock, we will break down the first hour
Speaker 2: of Karen Reich speaking out as she was accused of
Speaker 2: murdering her boyfriend John o'keef. She goes back on trial
Speaker 2: again in January, Bill kick him and Robert George will
Speaker 2: be joining us to break down her first hour of
Speaker 2: her side of the story that is going to be
Speaker 2: on ABC TV in Chineal five, coming up at nine o'clock.
Speaker 2: We'll be doing our postgame analysis, if you will, at
Speaker 2: ten o'clock on that boul We're going to try to
Speaker 2: simplify the tax situation with Kamala Harrison. If she gets in,
Speaker 2: like our expert, Alan Lickman says, is getting in, this
Speaker 2: is what you want to happen with your taxes. Coming
Speaker 2: up next on WBZ It's.
Speaker 1: Night Side with Dan Ray on WBZ Boston's News Radio.
Speaker 2: Welcome back Gary Tangoige sitting in for Danny Tenna Dan.
Speaker 2: We'll be back on Monday, folks. So there you go.
Speaker 2: You'll have the man back on money. You'll be ready
Speaker 2: to go.
Speaker 1: Well.
Speaker 2: Kamala Harris Accordney to Alan Lickman, who is going to
Speaker 2: be the next president of the United States, So we
Speaker 2: have to get ready for her tax plan. Of course
Speaker 2: it'll have to go through the proper channels of Congress
Speaker 2: and the Senate and House of Representatives and so forth.
Speaker 2: But I wanted to try to break down and understand
Speaker 2: what she wants to do and obvious this. I do
Speaker 2: know she's up for the middle class and if you
Speaker 2: have a lot of money, you're probably gonna get nailed
Speaker 2: if she gets her way. So we're bringing in tax
Speaker 2: expert CEO of Decision Financial Services, Monica Hengesbach to join us. Monica,
Speaker 2: thank you for joining us on night side.
Speaker 5: Oh, well, thanks for having me. I appreciate it.
Speaker 2: Well, we appreciate you coming on. Let's start with the Well,
Speaker 2: there's a couple of things here. Let's start with the
Speaker 2: child tax credit. I thought it was four thousand, but
Speaker 2: then I've read that it's six thousand, and how exactly
Speaker 2: would that work?
Speaker 5: You know that that's actually a good question. It's mainly
Speaker 5: for parents of newborn So what she's trying to do
Speaker 5: is bring bank that pandemic era expanded child tax credit
Speaker 5: that we had where they increased it. If you had
Speaker 5: newborn children, you would get an extra couple thousand dollars,
Speaker 5: If you had kids that were under the age of seventeen,
Speaker 5: you would get a few x you know, more thousands
Speaker 5: of dollars and things like that. So what I'm hoping
Speaker 5: so far, what I was reading during the pandemic era,
Speaker 5: they got that in a refund, which made it an
Speaker 5: absolute nightmare because some people didn't want it, and then
Speaker 5: they got it, and then they had to report it.
Speaker 5: It became a disaster when taxes were filed. So this
Speaker 5: is supposed to be a credit that she liked to
Speaker 5: give for everyone that has newborn children of six thousand
Speaker 5: dollars to go against their taxes.
Speaker 2: And it's just too much vit And I get that.
Speaker 2: I think that's I totally get that. I'm on board
Speaker 2: with that because I don't think it breaks the bank
Speaker 2: if you will when it comes to the tax situation,
Speaker 2: and I think that it can help families. I think
Speaker 2: that can really if you have, you know, a couple
Speaker 2: of new borns, have you during a time, I mean,
Speaker 2: if it's twelve grand or six grand that you don't
Speaker 2: have to pay taxes on, I think that that can
Speaker 2: be a big help to a family. I think that
Speaker 2: that makes sense. What do you think about that or
Speaker 2: do you have an opinion on this or you want
Speaker 2: to remain objective just as a financial consultant.
Speaker 5: So I think that this is something that could benefit families.
Speaker 5: You know, we're in an era where both parents have
Speaker 5: to work. Now it's no longer we can't afford to
Speaker 5: have one parents stay at home, and so then the
Speaker 5: rising costs daycare to put your children in there. That
Speaker 5: was the big thing that happened when everyone was at
Speaker 5: home due to COVID. They realized how much money they
Speaker 5: were saving just in daycare alone by not by someone
Speaker 5: staying at home. But then now with inflation thing, it's
Speaker 5: all changed. So giving this incentive to families to be able,
Speaker 5: I mean, the six thousand dollars a year, truthfully is
Speaker 5: a drop in the bucket when you really compare to
Speaker 5: what the child's care cost is out there. But I
Speaker 5: do have to agree with something like this to help
Speaker 5: families out with childcare costs is a good incentive. Yeah.
Speaker 2: Well, I also think it's passable.
Speaker 5: This would be passible, yes, because and I you know,
Speaker 5: that is one of the big topics that is actually
Speaker 5: making headway this year is family. Everything that both parties
Speaker 5: are coming out talking about family and family relations and
Speaker 5: doing everything for family. I mean, you've got Trump talking
Speaker 5: about now IVF, you got you know, you've got his
Speaker 5: vice president. We all know what he said. So there's
Speaker 5: we've got quite a bit where this is really making headway.
Speaker 5: And I think it is a passable tax.
Speaker 2: Right, You're heading in the right direction. And at one
Speaker 2: point in time in this country, if you made six figures,
Speaker 2: you would well, this is work, this is great. But
Speaker 2: that's not the case anymore. And you know, speaking for myself,
Speaker 2: where I two kids in college and you know, and
Speaker 2: Sarah ques ninety thousand and this school is eighty thousand
Speaker 2: and this, you know, and you want to try to
Speaker 2: send your kids to the best schools, but it can
Speaker 2: cripple somebody. So it's not only when you're raising a family.
Speaker 2: It's not only just taking care of the kids until
Speaker 2: they're eighteen, but what are they going to do after
Speaker 2: their eighteen? And college isn't necessary, But you still have
Speaker 2: trade schools, which I am an advocate of big time.
Speaker 2: Have you tried to get a plumber lately? Seriously? You know,
Speaker 2: I totally said that, Like, you know, there's just this
Speaker 2: unfair expectation that every kid, at least in my town,
Speaker 2: every kid has to go to college. I'm like, why, why,
Speaker 2: why does every kid have to go to college?
Speaker 5: They know.
Speaker 2: I do believe that you need further study. I do
Speaker 2: think you have to have a skill, you have to
Speaker 2: have something to offer unless you're a freaking genius, you know,
Speaker 2: and you can go and you know, invent Microsoft or
Speaker 2: something like that. But I think you have to have
Speaker 2: the skill, so that can be a less expensive alternative.
Speaker 2: But if you want to try to send your kid
Speaker 2: to college, it can actually impact how many kids you
Speaker 2: want to have if you sit back and you say, okay,
Speaker 2: I want to I'd like to have big family, and
Speaker 2: then you go, well, wait a minute, it's four hundred
Speaker 2: grand to send a kid, so it's going to cost
Speaker 2: me one point two million dollars to send it go
Speaker 2: to college. You know, it's it's crazy. So anything you
Speaker 2: can do to help families, I think I just think
Speaker 2: it's the right thing to do. Not to mention the
Speaker 2: cost of living. Of course, we live in New England
Speaker 2: where it's insane. The cost of living is just completely
Speaker 2: out of control.
Speaker 5: So yeah, and the kids, and the kids are now
Speaker 5: coming back at home because the money that they're earning
Speaker 5: once graduating from college isn't able to afford rent, and
Speaker 5: so they're moving back with their parents with large student loan.
Speaker 5: Gad if you weren't one of the fortunate ones that
Speaker 5: planned earlier, had they except you know, residual income to
Speaker 5: put in a five twenty nine plan. Now it's taken
Speaker 5: away from the parents' ability to save money for retirement. Well,
Speaker 5: it's a vicious cycle.
Speaker 2: Oh it's it's terrible. I mean, we did a five
Speaker 2: twenty nine. But do you know how much you have
Speaker 2: to put away? Yes, I mean you.
Speaker 5: Do a child that's back home, Yes, right.
Speaker 2: I mean you have to put away hundreds of thousands
Speaker 2: of dollars for post secondary education. I mean I paid
Speaker 2: twenty grand to go to the University of Maine.
Speaker 5: You know.
Speaker 2: It's and we don't get me started on the cost
Speaker 2: of post secondary education. I think it's a scam. I
Speaker 2: think it's just a complete scam. But I'm also not
Speaker 2: a communist where I want cost control on our school system.
Speaker 2: So I'm bitching and moaning, but I don't have a solution.
Speaker 2: You know, I don't have a solution yet. The small
Speaker 2: business tax credit was five they want to send it
Speaker 2: up to fifty thousand. I know nothing about this. I'm
Speaker 2: not a business person. I'm you know, a lot of people, Oh,
Speaker 2: it'd be so cool, you know, we should start a business.
Speaker 2: I'm like, I don't think you realize how hard it
Speaker 2: is to start a business. So what is this all about?
Speaker 2: Is this doable? And is it a good idea?
Speaker 5: So what this There is already a current law that
Speaker 5: you're able to write off what you just mentioned five
Speaker 5: thousand of your startup expenses right off the gate, and
Speaker 5: then up to fifty thousand, So the forty five thousand
Speaker 5: remaining Let's say you started a business, you spent fifty
Speaker 5: thousand dollars in startup costs, five thousand you can get
Speaker 5: immediately a write off and expense it. And the current
Speaker 5: law says for the remaining forty five thousand you need
Speaker 5: to amortize that over one hundred and eighty month period.
Speaker 5: So what this new law, that tax thing that Kamila
Speaker 5: Harris wants to pass is that there is no more
Speaker 5: amortizing of it. So if you spent fifty thousand in
Speaker 5: startup expenses and your startup business, you're able to write
Speaker 5: off fifty thousand dollars in that year.
Speaker 2: Now can you write off if you're already at a loss?
Speaker 2: So say you're you know the first is generally if
Speaker 2: you start up a new business, you're not profitable the
Speaker 2: first few years, correct, So can you so you add
Speaker 2: this onto your loss already so.
Speaker 5: You add it onto your loss already. And you know
Speaker 5: this can get down in the minutia depends on the
Speaker 5: type of structure you're at. Well, let's just say I'm
Speaker 5: the sole providership. Mama, pop, put the shingle on the door.
Speaker 5: I have this fifty thousand dollars loss and some other
Speaker 5: losses with my new business. So let's say a total
Speaker 5: sixty thousand. I can claim the full sixty thousand dollars
Speaker 5: loss on my tax return. Now do I get that
Speaker 5: loss if I didn't have any income? So let's say
Speaker 5: my husband doesn't have any income, it just shows a
Speaker 5: loss that sixty thousand dollars will carry forwards to the
Speaker 5: next year to go against any income that we may
Speaker 5: be reporting. Or if I do have a spouse that's working,
Speaker 5: my sixty thousand dollars will go against their income that
Speaker 5: is being reported on the tax return. And how lower
Speaker 5: our overall taxable income in the first year.
Speaker 2: Okay, I don't know what do you think of that?
Speaker 2: The problem?
Speaker 5: You know, I think given an incentive to you know,
Speaker 5: I tripping my opinion. This is purely my opinion. I
Speaker 5: think where we sort of got away from is the
Speaker 5: United States was built on manufacturing. I mean, we were
Speaker 5: known for manufacturing, really known for making goods, and we
Speaker 5: were known for creating jobs. I mean people were flocking
Speaker 5: to the US through Ellis Island back in the day
Speaker 5: because this was the land of opportunity, and somewhere along
Speaker 5: the line we kind of lost that. So I think
Speaker 5: any incentives that can start help small businesses to want
Speaker 5: to it, you know, get established and started. I think
Speaker 5: is a great idea. Where I think this one fails
Speaker 5: is the fact that it gives you all of that
Speaker 5: loss as a startup. So it startup means startup. That
Speaker 5: means you haven't earned revenue, you haven't started your business.
Speaker 5: You're just incurring all these expenses, you know, paying legal fees,
Speaker 5: maybe buying product that you're going to sell, things like that.
Speaker 5: That's what you're writing off with this fifty thousand. But
Speaker 5: then when you start to have the businesses starting to
Speaker 5: have income and maybe starting to have that profit, a
Speaker 5: lot of these small businesses are still struggling because now
Speaker 5: they're paying self employment tax, they're paying all of this
Speaker 5: higher taps, and they have no ride off. They have
Speaker 5: no incentive or anything that can go against it. So
Speaker 5: with something like this. I sort of struggled because I
Speaker 5: don't see the benefit that's going to help the small
Speaker 5: businesses in the long run. I just think this is
Speaker 5: a one and done type of credit and then they're
Speaker 5: on their own.
Speaker 2: Well, that's a very good point, and I want to
Speaker 2: I want you to elaborate on that. We're going to
Speaker 2: continue that conversation. Then we're going to get into the
Speaker 2: big one, the big answer, the big ench, a lot
Speaker 2: of the capital gains. That's that's a hot one, and
Speaker 2: quite frankly, I think that has a snowballs chance in
Speaker 2: hell of passing. But we'll talk about it coming next
Speaker 2: on wbz's night Side.
Speaker 1: Now back to Dan Ray live from the Window World
Speaker 1: night Side Studios on WBZ News Radio.
Speaker 2: Okay, tax expert Monica Hegersbach is joining us from the
Speaker 2: Decision Financial Services. Wanted to continue to talk about this
Speaker 2: small business credit. You're mentioning fifty with the Kamala Harris platform,
Speaker 2: fifty thousand dollars tax credit for startup businesses. But you're right,
Speaker 2: and it's an excellent point. There are so many small
Speaker 2: businesses that are struggling out there, and why not help
Speaker 2: them and take care of what you already have as
Speaker 2: opposed to flood the market by creating more small businesses
Speaker 2: when possibly right now the economy can't support it all.
Speaker 5: Yeah, and there's a concern. I mean you see it
Speaker 5: quite often. You see restaurants that are closing, you know,
Speaker 5: the mama pops or the little boutiques or things like
Speaker 5: that that these mom and pops have put it out
Speaker 5: because they just can't they can't compete. They have to
Speaker 5: sell their wares at a lot of a higher price.
Speaker 5: You know, we have wages that are going up, payroll taxes,
Speaker 5: you can't compete. You need to offer employee benefits, all
Speaker 5: of this kind of stuff. But yet there is no
Speaker 5: tax incentive for those small businesses. So, like I said,
Speaker 5: this startup expense really helps just the ones that are
Speaker 5: physically starting up. They just literally put the shingle out
Speaker 5: of the door.
Speaker 2: What about small business Now, there was a point in
Speaker 2: time in America where it was very important, but as
Speaker 2: you just mentioned, it's so hard to compete when you
Speaker 2: take a look at the job the mega giants. If
Speaker 2: you will, I mean, I'll just point to Amazon because
Speaker 2: I think it's the perfect example. There's a lot of
Speaker 2: things on Amazon that I could get that I used
Speaker 2: to run to the corner store to pick up exactly,
Speaker 2: and you don't because you just hit a button and
Speaker 2: it shows up at your doorstep. Laundry detergent, for example,
Speaker 2: say you're out a laundry detergent, you'd run that. Like
Speaker 2: we had a store at the anniversary Robin's General Store, right.
Speaker 2: I lived in a very rural area. It was six
Speaker 2: miles from the old save more, so instead I would
Speaker 2: go to the Robin's store to pick up I don't know,
Speaker 2: some laundry detergent, or you know, milk if you will,
Speaker 2: milk's not coming from Amazon. But now you don't need
Speaker 2: to do that. I think it's I don't know, is
Speaker 2: there an I guess what I'm asking is is there
Speaker 2: a need for small business? Is there enough of a
Speaker 2: consumer need for the small business?
Speaker 5: I believe there is. I think if we if we
Speaker 5: get rid of small business, we're going to I believe
Speaker 5: we're going to crush the economy. Small businesses has been
Speaker 5: the essential foundation for for everything. It's it's unfortunate. It's
Speaker 5: their ideas and their thought that has brought about a
Speaker 5: lot of stuff. I mean, think about Microsoft now, it's
Speaker 5: a huge corporation, but that just started with a small
Speaker 5: thought of a couple of guys starting that industry.
Speaker 2: So the same thing with Amazon. He was selling books,
Speaker 2: I know, yeah, a book selling, but Netflix was selling DVDs.
Speaker 5: Correct. So it's like that that really is what we
Speaker 5: built our economy upon. And so we have to remember
Speaker 5: the small business and the incentive because they're really the
Speaker 5: ones that are out there hiring. Every time there's a
Speaker 5: glitch in the economy, Oh we're going to an inflation
Speaker 5: or there's just an inkling of a recession. You hear
Speaker 5: these large corporations laying off thousands of people, but you
Speaker 5: see the mom and pops just hanging on to the
Speaker 5: people that they have right and trying to give them
Speaker 5: what they can. So I really believe that what's going
Speaker 5: to really build up the United States again is supporting
Speaker 5: our small businesses. We really need to start supporting them.
Speaker 2: Tax EXPERTNA Monica Hengersback is joining us here on WBC's
Speaker 2: Night Side. Okay, let's get to the gorilla in the
Speaker 2: room here, the dinosaur or whatever. Twenty eight percent capital
Speaker 2: gains tax for wealthy Americans, and right now it's at
Speaker 2: seventeen And I know people like Warren Buffett have come
Speaker 2: out and have said, you know, listen, it's ridiculous that
Speaker 2: somebody like a Warren Buffett only has to pay seventy
Speaker 2: percent tax because of all the different maneuvers they can
Speaker 2: do with their income. Twenty eight percent sounds high, and
Speaker 2: I think she's going to have a tough time with that.
Speaker 2: What do you think.
Speaker 5: I think it's going to be very difficult because I
Speaker 5: think if people are and again you know, this is
Speaker 5: based upon if you make a million or more of
Speaker 5: taxable income, not just income, taxable income, so that is,
Speaker 5: after all of your write off, your taxable income is
Speaker 5: a million more, your capital gains would be at that
Speaker 5: twenty eight percent. But even then it's I think if
Speaker 5: they're paying twenty eight percent, then they're not going to
Speaker 5: be that willing to invest in the market, in stock,
Speaker 5: in real estate, in any of these other these other items.
Speaker 5: I think it's going to spur them away from doing that,
Speaker 5: investing elsewhere where they don't have to pay the twenty
Speaker 5: eight percent, and that could hinder the economy as well.
Speaker 5: So I just like her tax that she wanted to
Speaker 5: do on unrealized gains, and when when that came out
Speaker 5: I'm like, I didn't even bother reading it because I'm like, oh,
Speaker 5: there's no way in the world that's even going to
Speaker 5: remotely get an ink. So, you know, she did lower
Speaker 5: it than what Biden said. Biden wanted capital gains to
Speaker 5: be taxed at the highest ordinary income tax rate, and
Speaker 5: she's obviously saying one, I don't agree with that, but
Speaker 5: I'm I'm going to push it to this twenty eight percent.
Speaker 5: I think that's going to be a big battle, and
Speaker 5: I don't think she's going to stand a chance to
Speaker 5: get that. And if she does get that, there's going
Speaker 5: to be some battle because she also wants to increase
Speaker 5: the corporate tax rate from twenty one percent to twenty
Speaker 5: eight percent. So which one do you want more? Do
Speaker 5: you want the corporate rate being twenty eight percent, Then
Speaker 5: then you can't tax the shareholders at twenty eight percent either,
Speaker 5: So you're going to have to pick and choose here.
Speaker 5: So I don't think she's going to be able to
Speaker 5: pass that one, you know.
Speaker 2: I mean, I'm a listen, I'm a registered Democrat. I
Speaker 2: voted both ways. But when you when you talk about
Speaker 2: increasing taxings on companies from twenty one percent to twenty
Speaker 2: eight percent. I mean that's why they leave, you know,
Speaker 2: it's it's such a balance. You know, you just have
Speaker 2: to play ball with the bosses. You just do, you
Speaker 2: know you do, and I understand. You know what people
Speaker 2: that my dad worked in a paper mill. You know,
Speaker 2: my mom stayed at home. We had one used car.
Speaker 2: I mean, I get it. But the people that make
Speaker 2: the money, if you the people that have the money
Speaker 2: that start the businesses and own the businesses, if you
Speaker 2: don't play ball with them, you could get screwed as well. Well.
Speaker 2: I think what's going to happen is the twenty eight
Speaker 2: percent will be a political planing because she probably won't
Speaker 2: get it past, but she can probably she can say
Speaker 2: that she tried. Monica, thank you so much. You have
Speaker 2: been very helpful. Monica Hengersbach at Decision Financial Services. Do
Speaker 2: you have a website?
Speaker 5: I do, It's Decision financial dot com and or a podcast.
Speaker 5: You can listen to me on the Wealthy Wallet.
Speaker 2: The Wealthy I like that name, The Wealthy Wallet. That's quick,
Speaker 2: snappy and tells you what it is. All right, Monica,
Speaker 2: have a good night you two.
Speaker 5: Thank you all right, thanks.
Speaker 2: For joining us. Monica Hengersbach from Decision Financial Services, talking
Speaker 2: about the tax situation with Kamala Harris. Got a lot
Speaker 2: still to do here now, I'm not still. We know
Speaker 2: a lot of people are going to be paying attention
Speaker 2: to what's going on with Karen Reid because at nine
Speaker 2: o'clock on television, she's going to be starting to tell
Speaker 2: her side of the story. We are going to continue
Speaker 2: here on the radio talking sports with Jackson Tolliver about
Speaker 2: the Patriots and the Celtics. Also, we'll get into the
Speaker 2: Boston Film Festival and a terrific movie that's going to
Speaker 2: be shown at the Boston Film Festival that's coming up
Speaker 2: at the next hour. Then at ten o'clock, we will
Speaker 2: do a little post game on the Karen Reid story
Speaker 2: right here on WBC's Night Side. All right, talk to
Speaker 2: the other side, get into some sports.