How Trump Could Make Divorce Rates SKYROCKET
Published: 2 weeks ago By: The Young Turks
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Trump’s tax plan is causing divorce lawyers to tell their clients to act now. Cenk Uygur and Ana Kasparian, the hosts of The Young Turks, tell you why. Tell us what you think in the comment section below.
Read more here: https://www.politico.com/story/2018/02/04/tax-plan-divorce-alimony-marriage-389074
“Republicans may pride themselves on upholding family values, but their new tax law could soon lead to a surge in married couples calling it quits.
Lawyers are counseling couples considering divorce to do it this year — before a 76-year-old deduction for alimony payments is wiped out in 2019 under the Tax Cuts and Jobs Act.
“Now’s not the time to wait,” said Mary Vidas, a lawyer in Philadelphia and former chair of the American Bar Association’s section on family law. “If you’re going to get a divorce, get it now.”
Potential divorcees have all of 2018 to use the alimony deduction as a bargaining chip in their negotiations with estranged spouses.
The deduction substantially reduces the cost of alimony payments — for people in the highest income-tax bracket, it means every dollar they pay to support a former spouse really costs them a little more than 60 cents.”
Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)