May 22, 2025 • 7 mins
Almost all Americans benefit, most with even lower tax burdens that what they currently pay and the only people who don’t benefit are upper income earners.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Brian Mudshow podcast is driven by Brayman Motor Cars.
My family is a Brayman Motor Cars family. Your family
should be to visit Braymanmotorcars dot Com.
Speaker 2 (00:14):
Your questions, Brian's answers. It's time for Today's You and
A Today. This is the Brian mud Show. Today's Goday.
Speaker 3 (00:25):
What the income tax changes with the one big beautiful
bill that has now passed the United States House of
Representatives means to you. This is brought to you by
Melissa and Ashes Checkmark Collections. Each day I featured a
listener question sent by one of these methods. You may
email me Brian Mudd at iHeartMedia dot com, hit me
(00:47):
up on social at Brian mud Radio. You may also
use the iHeartRadio talk back feature. Just go to WJNO
or vera patriot inside of the iHeartRadio app. We would
love it if, while you're in there, because you have
one preset and then the Brian Mudshow podcast my podcast,
you number two preset. That would be awesome that we
were always there for you for free on demand listen
(01:08):
anytime and A.
Speaker 4 (01:10):
While you're in there, you'll see a little microphone button.
Speaker 5 (01:12):
You see it, you tap you may lay down the
message right there, maybe a topic of question for a
future Q and A. Today's note. This at Brian Mud Radio,
I listened to you and am a fan. The talk
radio station here uses ABC hourly for news. I'm sorry
it has been saying the GOP Reconciliation Bill quote cuts
medicaid and lowers taxes on the wealthy last two days constantly.
(01:37):
How about it keeps tax cuts in place for the
middle class. Yeah, so you don't have to worry about
that around here. We would never put ABC News on
for you here. That would not be So you're always
welcome to stay with us, even beyond the show. You
want to listen to us everywhere you go, no matter
(01:59):
where you are in country, around the world.
Speaker 4 (02:01):
We're here for you.
Speaker 5 (02:03):
Just saying, all right, So the One Big, Beautiful Bill
Act has passed the House of Representatives. Jim Jordan had
this to say, by the way, during the debate overnight.
Speaker 6 (02:14):
Mister speaker, you know it's a good bill because the
left hates it.
Speaker 4 (02:18):
The left that.
Speaker 6 (02:18):
Defunded the police, the left that let ten million people
illegally enter our country in a four year time span,
the left that wants men to compete against women in sports.
Speaker 5 (02:27):
Yeah, all that kind of stuff. Right, So about the
OBBB what it means to you. Let's break down the
tax policy because this note presents a good opportunity to
do just that, and the dishonesty of the left. It's
not just ABC News. The biggest change of all is
(02:50):
actually no change at all. And if that sounds like
an oxymoron, it isn't. President Trump's Tax Cuts in Jobs
Act to twenty seventeen brought about our current income tax
policy and it's set to expire at the end of
this year. So the One Big Beautiful Bill Act would
make it permanent, make the Trump tax policy from twenty
(03:10):
seventeen permanent. That is the foundation on the tax side.
So the TCJA led to a lower federal income tax
burden for eighty percent of Americans, with four point eight
percent pain higher taxes. Ironically, given the commonly false reporting
of the Trump tax policy, allah, what is cided by
(03:30):
the listener from ABC News in today's note, it's actually
the highest income owners who paid more under the Trump
tax policy because it eliminated many deductions and tax loopholes
commonly used by upper income individuals.
Speaker 4 (03:44):
The only people who ended up.
Speaker 5 (03:46):
Paying more that were those on the highest end of
the spectrum that used those loopholes. In reality, the total
federal income tax burden would most commonly be lower the
highest income earners if the Trump income tax policy was
allowed to expire. So, in other words, the only way
(04:06):
that you would have tax cuts for the wealthy happening
here is if you did what the Democrats wanted to
have happen and have the Trump tax policy expire.
Speaker 4 (04:17):
That is a fact.
Speaker 5 (04:19):
It's the exact opposite of what's often reported in the news.
Speaker 4 (04:23):
And isn't that so often true?
Speaker 5 (04:24):
The left will just project right, they'll sit there and
accuse exactly what it is that they stand for. As
for the actual federal income tax changes under the law.
So these are the things that are are different with
the One Big Beautiful Bill Act over the existing tax
policy and adjusts tax brackets annually.
Speaker 4 (04:43):
Based on inflation.
Speaker 5 (04:46):
It increases the standard deduction by an additional one thousand
dollars per federal tax filer. It increases the child tax
credit by an additional five hundred dollars. It increases the
standard deduction for those sixty five in order by four
thousand dollars. It eliminates federal income tax on tips for
(05:07):
reported income of up to one hundred and sixty thousand dollars.
It eliminates federal income tax on overtime for reported income
of up to one hundred and sixty thousand.
Speaker 4 (05:17):
And I want to just take a moment to kind.
Speaker 5 (05:19):
Of passe through a few of those there, because these
are things that you had been familiar with conceptually, the
no tax on tips, no tax on overtime. So the
way it is actually written, no tax on tips and
no tax on overtime for the first one hundred and
sixty thousand dollars of income. Somebody has more tipped income
than that, more overtime than that than it would get
(05:39):
tax from there. The other piece, President Trump on the
campaign trail did not promise that there'd be no tax
on Social Security, but he said we should have looked
at getting rid of that too. Well, in essence, that's
what is done here. By increasing the standard deduction by
those sixty five in olds by four thousand dollars, it
(06:02):
effectively is eliminating the tax on Social Security as well.
So that is part of this that really hasn't gained
much attention at all. Most people probably not aware of this,
so let me boil this down in terms of the
impact with these changes. Ninety percent of Americans currently use
a standard deduction and will benefit from the increase in
(06:25):
that standard deduction, meaning there is an additional tax cut
in here for ninety percent of Americans at the jump.
Forty million families use the child tax Credit and will
benefit from that increase. Fourteen percent of tax filers are
sixty five in order and will benefit from the increased
deduction for seniors. Four point three million Americans are tipped
(06:49):
employees and will benefit from no tax on tips, and
eighteen million Americans earn overtime compensation and will benefit from
no tax on overtime. As always, there are two the stories,
one side of facts. Those are the facts. Almost all
Americans benefit most with even lower tax burdens than what
they currently pay, and the only people who don't benefit
(07:11):
are upper income earners.
The Brian Mudshow podcast is driven by Brayman Motor Cars.
My family is a Brayman Motor Cars family. Your family
should be to visit Braymanmotorcars dot Com.
Speaker 2 (00:14):
Your questions, Brian's answers. It's time for Today's You and
A Today. This is the Brian mud Show. Today's Goday.
Speaker 3 (00:25):
What the income tax changes with the one big beautiful
bill that has now passed the United States House of
Representatives means to you. This is brought to you by
Melissa and Ashes Checkmark Collections. Each day I featured a
listener question sent by one of these methods. You may
email me Brian Mudd at iHeartMedia dot com, hit me
(00:47):
up on social at Brian mud Radio. You may also
use the iHeartRadio talk back feature. Just go to WJNO
or vera patriot inside of the iHeartRadio app. We would
love it if, while you're in there, because you have
one preset and then the Brian Mudshow podcast my podcast,
you number two preset. That would be awesome that we
were always there for you for free on demand listen
(01:08):
anytime and A.
Speaker 4 (01:10):
While you're in there, you'll see a little microphone button.
Speaker 5 (01:12):
You see it, you tap you may lay down the
message right there, maybe a topic of question for a
future Q and A. Today's note. This at Brian Mud Radio,
I listened to you and am a fan. The talk
radio station here uses ABC hourly for news. I'm sorry
it has been saying the GOP Reconciliation Bill quote cuts
medicaid and lowers taxes on the wealthy last two days constantly.
(01:37):
How about it keeps tax cuts in place for the
middle class. Yeah, so you don't have to worry about
that around here. We would never put ABC News on
for you here. That would not be So you're always
welcome to stay with us, even beyond the show. You
want to listen to us everywhere you go, no matter
(01:59):
where you are in country, around the world.
Speaker 4 (02:01):
We're here for you.
Speaker 5 (02:03):
Just saying, all right, So the One Big, Beautiful Bill
Act has passed the House of Representatives. Jim Jordan had
this to say, by the way, during the debate overnight.
Speaker 6 (02:14):
Mister speaker, you know it's a good bill because the
left hates it.
Speaker 4 (02:18):
The left that.
Speaker 6 (02:18):
Defunded the police, the left that let ten million people
illegally enter our country in a four year time span,
the left that wants men to compete against women in sports.
Speaker 5 (02:27):
Yeah, all that kind of stuff. Right, So about the
OBBB what it means to you. Let's break down the
tax policy because this note presents a good opportunity to
do just that, and the dishonesty of the left. It's
not just ABC News. The biggest change of all is
(02:50):
actually no change at all. And if that sounds like
an oxymoron, it isn't. President Trump's Tax Cuts in Jobs
Act to twenty seventeen brought about our current income tax
policy and it's set to expire at the end of
this year. So the One Big Beautiful Bill Act would
make it permanent, make the Trump tax policy from twenty
(03:10):
seventeen permanent. That is the foundation on the tax side.
So the TCJA led to a lower federal income tax
burden for eighty percent of Americans, with four point eight
percent pain higher taxes. Ironically, given the commonly false reporting
of the Trump tax policy, allah, what is cided by
(03:30):
the listener from ABC News in today's note, it's actually
the highest income owners who paid more under the Trump
tax policy because it eliminated many deductions and tax loopholes
commonly used by upper income individuals.
Speaker 4 (03:44):
The only people who ended up.
Speaker 5 (03:46):
Paying more that were those on the highest end of
the spectrum that used those loopholes. In reality, the total
federal income tax burden would most commonly be lower the
highest income earners if the Trump income tax policy was
allowed to expire. So, in other words, the only way
(04:06):
that you would have tax cuts for the wealthy happening
here is if you did what the Democrats wanted to
have happen and have the Trump tax policy expire.
Speaker 4 (04:17):
That is a fact.
Speaker 5 (04:19):
It's the exact opposite of what's often reported in the news.
Speaker 4 (04:23):
And isn't that so often true?
Speaker 5 (04:24):
The left will just project right, they'll sit there and
accuse exactly what it is that they stand for. As
for the actual federal income tax changes under the law.
So these are the things that are are different with
the One Big Beautiful Bill Act over the existing tax
policy and adjusts tax brackets annually.
Speaker 4 (04:43):
Based on inflation.
Speaker 5 (04:46):
It increases the standard deduction by an additional one thousand
dollars per federal tax filer. It increases the child tax
credit by an additional five hundred dollars. It increases the
standard deduction for those sixty five in order by four
thousand dollars. It eliminates federal income tax on tips for
(05:07):
reported income of up to one hundred and sixty thousand dollars.
It eliminates federal income tax on overtime for reported income
of up to one hundred and sixty thousand.
Speaker 4 (05:17):
And I want to just take a moment to kind.
Speaker 5 (05:19):
Of passe through a few of those there, because these
are things that you had been familiar with conceptually, the
no tax on tips, no tax on overtime. So the
way it is actually written, no tax on tips and
no tax on overtime for the first one hundred and
sixty thousand dollars of income. Somebody has more tipped income
than that, more overtime than that than it would get
(05:39):
tax from there. The other piece, President Trump on the
campaign trail did not promise that there'd be no tax
on Social Security, but he said we should have looked
at getting rid of that too. Well, in essence, that's
what is done here. By increasing the standard deduction by
those sixty five in olds by four thousand dollars, it
(06:02):
effectively is eliminating the tax on Social Security as well.
So that is part of this that really hasn't gained
much attention at all. Most people probably not aware of this,
so let me boil this down in terms of the
impact with these changes. Ninety percent of Americans currently use
a standard deduction and will benefit from the increase in
(06:25):
that standard deduction, meaning there is an additional tax cut
in here for ninety percent of Americans at the jump.
Forty million families use the child tax Credit and will
benefit from that increase. Fourteen percent of tax filers are
sixty five in order and will benefit from the increased
deduction for seniors. Four point three million Americans are tipped
(06:49):
employees and will benefit from no tax on tips, and
eighteen million Americans earn overtime compensation and will benefit from
no tax on overtime. As always, there are two the stories,
one side of facts. Those are the facts. Almost all
Americans benefit most with even lower tax burdens than what
they currently pay, and the only people who don't benefit
(07:11):
are upper income earners.
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