Money and Tax Words. A Conversation with Donald Trump.

8,646 views ・ 2017-09-29

Simple English Videos


Please double-click on the English subtitles below to play the video.

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Hello and welcome to Simple English Videos where today we’re looking at English words
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for money and taxes.
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And we have an expert to help us - President Trump.
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Mr. President, thank you so much for joining us today.
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Well, it’s a pleasure to have you here.
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We’ll have to see what happens.
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OK, the first word is tax?
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It’s an interesting noun because it can be countable or uncountable.
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And it means the money we must pay the government, right?
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I think I can agree with that.
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Great.
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I think the rules are unbelievably archaic and slow moving and in many cases unfair.
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So you think the tax system is old fashioned and we should change it?
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It’s just a very, very bureaucratic system.
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Bureaucratic – another useful word.
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It means it involves a lot of complicated rules and processes.
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That’s why many people employ an accountant to help.
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Could you explain what your accountant does?
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Well, it’s a … it’s a tough job.
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Yes, keeping financial records, calculating taxes…
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I have a very big tax return.
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You’ve seen the pictures.
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My tax return is probably higher than that from the floor.
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Tax return – another useful expression.
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That’s the form we all complete for the government that contains our financial information.
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Your accountant completed your tax return.
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He was able to do it, so obviously he’s a pretty smart cookie.
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A smart cookie.
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So you think he’s bright and intelligent.
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I have…
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I really, you know, have no comment on him.
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People are saying ‘Is he sane?’
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I have no idea.
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Really?
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When you look at other people’s tax return, even other wealthy people, their tax return
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is this thick.
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My tax return is this high.
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Yeah, yeah, because you have a lot of income.
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Income – the money we make from our work or investments.
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If we receive more income - we pay more tax.
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I think it’s very unfair.
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But, before we pay our tax we can deduct our expenses – deduct – take away and expenses
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- the costs.
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The money we have to spend in order to earn money.
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We can deduct expenses.
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Much, much more than people understand.
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So you think we can deduct more money?
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Well, I have a problem What’s that?
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I’m under audit.
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Oh I think it’s a very unfair thing because
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I have been under audit almost like, since I became famous.
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OK?
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Well, let’s explain.
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An audit is when officials examine your financial records to see if they’re true and correct.
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Nobody wants to be audited.
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I would much prefer them not to do that, that’s right.
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Because of your deals with Russia?
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The concept of Russia with respect to us is a total phony story.
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So it’s not true.
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And you mean a totally phony.
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Of course it’s a total phony story.
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Totally phony.
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Totally phony.
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Well, thank you so much for talking to us, Mr. President.
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We’re really grateful to President Trump for talking to us this week.
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See you next Friday everyone.
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Bye.
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04:48
Hi everyone.
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If you’d like more practice with words and expressions you heard in this video, we’ve
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made a free worksheet for you.
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I’ll put a link in the description below.
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If you liked this video, please, give it a thumbs up, and don’t forget to subscribe
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to our channel.
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Bye now and happy studying.
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