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+639

    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 2 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 ! 23 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 1 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 5 months ago

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

    • Bradley Simpson
      Bradley Simpson 5 months ago

      Vox got be the worst way to explain this.

  • Conner Grant
    Conner Grant 18 hours ago

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

  • xem lol
    xem lol yesterday

    Your explanation does not make any sense

  • Pile Of Crap
    Pile Of Crap yesterday

    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 2 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 2 days ago+1

    What about tax havens ??

  • tod washere
    tod washere 2 days ago

    It insensitives small buisnesses

  • Mankedemes
    Mankedemes 2 days ago

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

  • Andrew Stirling
    Andrew Stirling 3 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 3 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 3 days ago

    just... why...

  • Chris Loftus
    Chris Loftus 5 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 5 days ago

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

  • Christopher Kim
    Christopher Kim 6 days ago

    Who the hell said we need the government to build our roads, do our research, and fly our fighter jets(presumably for defense). Toll roads are faster and we’ll maintained (means it can work as a private system)... we can do our own research, ever heard of Elon musk? Also has anyone watched iron man 2? He privatized world peace!

  • Big Bite
    Big Bite 6 days ago

    The rich pay to much they should pay the same procent as a middle class person not more

  • Big Bite
    Big Bite 6 days ago

    Cut the budget

  • byron Rideaux
    byron Rideaux 8 days ago

    I kind of liked the cereal analogy

  • Voxle
    Voxle 8 days ago

    So basically we need more cerial?
    Not this is a political movement I can get behined.

  • Dimitri's Domain
    Dimitri's Domain 8 days ago

    Here's my theory
    With the tax repeal, more people will have more money. Which means that they will go out and buy more stuff. By doing this, the government can tax that profit and still have enough money to pay these people. Just a theory, not to spark controversy!