What Trump's tax bill means for your wallet

On Point | Podcast

WBUR

Talk Show, Daily News, News, Npr, On Point, Daily

4.2 • 3.5K Ratings

🗓️ 17 June 2025

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

The One Big Beautiful Bill Act is really about one big thing: Taxes. Some conservative economists say it also shows a striking shift in Republican tax policy.

Transcript

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0:00.0	Support for this podcast comes from Is Business Broken, a podcast from B.U.
0:04.9	Questrum School of Business. What is short-termism? Is it a buzzword or something that really impacts businesses in the economy?
0:13.2	Stick around until the end of this podcast for a preview of a recent episode.
0:19.3	WBUR Podcasts, Boston.
0:27.2	This is On Point.
0:28.7	I'm Megna Chakra-Bardi.
0:30.5	On June 7th, Vice President J.D. Vance was on Theo Vaughn's podcast.
0:37.4	Now, June 7th happened to be quite an interesting day for
0:40.6	Vance's boss, President Donald Trump. Elon Musk was on Twitter slash X blasting the One Big Beautiful
0:49.0	Bill Act, calling it a, quote, disgusting abomination due to how it will balloon the deficit.
0:56.6	Well, as Vance brochatted with Vaughn, Musk tweeted out a claim that Trump is in the Epstein files,
1:04.9	essentially making claims that the president is connected to Jeffrey Epstein's human and sex trafficking ring.
1:11.5	The vice president hadn't seen the tweet, so Vaughn read it out to him in real time.
1:18.1	Well, after that, the vice president fumbled around for an answer, trying to find safe passage between the Silla and Cararybdis of Trump and Musk's egos.
1:29.4	And by the way, those two monsters from Greek mythology, from The Odyssey, of course, are amongst my favorites.
1:35.5	Silla, a creature with dogs and snaky necks, lured ships close to her lair where she would seize sailors right off the decks of the ships.
1:44.5	And Caribdis, a massive whirlpooler monster that swallowed ships whole three times a day.
1:52.6	Anyway, the fact that the vice president was really having trouble finding a good response to Vaughn's reading of that tweet isn't specifically what caught my attention.
2:03.1	What caught my attention was the safe harbor that Vance steered his answer toward.
2:08.9	He dove straight at what he said was the most important reason for the one big, beautiful bill.
2:17.0	But, I mean, and I get the frustration there, and I get the frustration that, I mean, look, Congress, you got the spending bill.
2:23.9	But the main purpose of the bill is not actually spending or cutting spending, though it does cut a lot of spending.
	...

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