Also in this playlist...
This transcript is automatically generated
Hi everybody in Lawrence in an Eddie thanks for joining us welcome to the new week we want to start off with this story that affects everybody witness cellphone you know you've looked at your bill and sometimes your eyes bulge out because she don't understand what any of these small taxes fees and surcharges are.
I it turned out according to Tax Foundation that an extra seventeen point 2% -- -- made it to your cellphone bill.
In taxes so figure -- -- sixty bucks a month.
That comes out to be a little over seven.
Foxbusiness.com is going to explain all of this to us hi Katherine.
I am happy Monday yes you -- you -- So this is a lot of fees is it fair what -- what are the people in Washington saying if a lot of isn't the -- -- about you but I hate opening up my it's my cell -- I don't another minute.
I -- I heard -- every month.
Who had never really says look that that final number whenever they let me just you know right attacker did -- deposit but here's the thing.
I -- on average seventeen point 2% and boring for people in New York think it's twelve.
Added you know taxes and fees add -- their -- -- -- like 20% more as a bad news for you guys.
And what's really happening is is that politicians.
On the state local and federal level have all decided -- this is a good place -- to kind of -- -- All these new taxes or increase taxes and they don't get the political file out because of that right.
-- think about it if you -- it SA increase -- income back you're gonna get a lot of that they a lot of public you know scrutiny over their.
So they decide you know what let's just -- -- the cellphone about and -- -- nobody is really catching on it they do get mad they get mad at their carriers.
Right he's most people don't realize.
Where they're coming from is there -- certain tax at every single American pays is really one tax that everybody has to -- -- matter where you are.
There are and that's to cover things like to get wireless connectivity to rural areas in America -- there are some standard taxes that have to be paid and that's fine.
But -- just there's so many different taxes and it varies by state and people Nebraska they're paying the highest rate while there was an -- they have the lowest you know added taxes but that's so much -- talking 10%.
-- making a significant chunk -- change now congress is working on a way to kind of found.
Come back -- a little bit there if the album wireless fair tax act that's going through the house right now -- it's got a lot of bipartisan support.
And that would just kind of put you know hit the -- -- it would save it for five years nobody can add any taxes to cellphone -- And it it seems -- -- -- some.
By the senate has its kind of -- variant in the previous satisfaction so -- see kind of where that goes but here's the -- if you have one.
It in the the taxes that come through our -- on those are being used to generate revenue for other pieces of the economy other parts of the country if they're not -- ourself on building is gonna find another way to decline -- -- That is that's correct -- out that they always find -- a new way and you loop on -- -- accident -- tax companies they pass that cost the consumer has allowed so it is kind of a bad odds of that that five years and I say OK the Telecom industry saying.
You know what we're OK paying taxes let's dig out of a more fair way to do that doesn't answer everybody's happy and sagging -- -- got you.
Okay -- big many 323 says we changed -- carriers and went all in no contract plans.
We're saving tons of money and getting my service a lot of people say that before we switch to our next story -- I want to pull your article up on the screen on all of this if you want more information maybe other people wanna consider.
Switching to those no contracts plans as well so there's -- article what's -- 17% tax on your phone bill.
Second up today the cost of raising a little 1235000.
Dollars these full our junior evening goes to college -- -- money.
Who read dad everything college rankings and and cost anyone you know is like 250 grand for four years so your baby's birth after nine dollars.
That's may have -- ever is.
-- get double that and confidence in his and it's only getting worse than it's not keeping up with inflation it's not keeping up with the wage increases so a lot of families are either.
Not having kids are having fewer kids than it that they -- that.
Right and a record number of folks on un food stamps and sure that's one of the consequences.
Absolutely and you know what's interesting is that you -- that that parents in the single parents earning his making a lower income.
Stating that they won't have more kids -- they don't want to file below the poverty line till it's just it was just a great concern.
Yes and it cost of raising a child has gone up by close to sixty years in the last decade -- line is that correct.
That is correct I had one X ray has had break it down for me and where those costs are really coming from now housing is still the biggest chunk of that of that budget there.
But child care costs an education and also health care.
Fate -- the prices of those are soaring into double and triple digits coming your wages aren't increasing to kind of cover that a lot of families are thinking twice and it's common for land and -- -- the economy gets bad it's common for the birth rates it to drop a little bit yet and we saw that in 2007 it trapped 2011 hit the lowest level ever.
But here's the thing technically we've been -- -- especially for four years.
But at birth rate is still at the lowest level that yet from nowhere was -- 2011.
-- -- have a lot of economists worry that you know how to order working class athlete and replace workers and he really kind of rely on that consumer spending that older Americans and deal Wednesday against retirement they have -- that discretionary income.
If you don't have a big enough generations kind of -- that happened.
The whole economy in the -- labor -- have to kind of shift to kind of.
Rebalance ram -- brought that up because it's true.
You know there's two dynamics going on women are more educated these days a lot of them are pushing off having a child and then just the economy is affecting the low birth rate.
As well so yeah I mean this is something -- have to think about down the road and the economy is going to have to just kept nestled thank you so much and put this article that you -- up on.
Our screen as well folks want.
More information on raising baby just how much does it cost I now -- popping numbers.
Think Kevin did -- I think he stepped right that is great and out.
Filter by section