4.6 • 682 Ratings
🗓️ 16 July 2025
⏱️ 10 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. The Big Beautiful Bill. |
0:11.6 | I thought that was a nickname. They actually named the law that, which is trippy to say the least. |
0:19.3 | Beautiful. It's just such a strange adjective for a piece of paper |
0:22.7 | i think it's pretty cool i mean it's kind of fun but um so everybody's wanting to know okay is the |
0:28.4 | world going to come to an end because of it or is the world honestly going to get better well as usual |
0:33.8 | with washington um there's some things that are good and there's some things that are not good. |
0:39.8 | And you can just kind of go with that. |
0:41.8 | I don't think there's any bill that universally will help anyone and everyone. |
0:45.9 | Well, because that's not the government's job, by the way. |
0:49.5 | It's your job to help you. |
0:51.4 | Quit waiting on the White House to fix your house, in other words. |
0:54.4 | So, but anyway, everybody's wanting to know all this. So we kind of, we thought we'd spend a |
0:58.9 | segment on it anyway. I'm not going to spend the rest of my life on it, but I probably will |
1:02.9 | because a lot of stuff is going to come up over the rest of my life. But anyway, first thing is |
1:08.1 | the 2017 tax cuts were made permanent. they were scheduled to run out and that's huge |
1:15.7 | because uh the main thing that happened is 90 some odd percent of americans take the standard |
1:22.9 | deduction do not itemize and the 2017 raised the standard deduction super high, and so it keeps you from having to pay |
1:32.6 | federal income tax for a whole bunch of you at all, just because you get this huge |
1:37.4 | standard deduction. |
1:38.5 | Some real savings for most people. |
1:39.9 | And they increased another $1,500 in 2025, not for 24, but for 25, which when you file next year, |
1:47.6 | you'll see that, and it's going to continue to increase adjusted for inflation. So that's a, |
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