Kevin
๐ค SpeakerAppearances Over Time
Podcast Appearances
Yeah, so the big, beautiful bill negotiations are led by Secretary Bessa to myself as part of the big six. The other four are the majority leader, the Speaker of the House, the Chairman of the Finance Committee and Ways and Means Committee. And we've been meeting regularly through all the stuff, all the news that you read about day in and day out.
We've got a massive amount of staff and leadership meeting all the time to make sure that the big, beautiful bill gets into the end zone by, say, June. And I can tell you that the talks and the writing of the language is so advanced right now. that pretty much the train is leaving the station next week in the house.
We've got a massive amount of staff and leadership meeting all the time to make sure that the big, beautiful bill gets into the end zone by, say, June. And I can tell you that the talks and the writing of the language is so advanced right now. that pretty much the train is leaving the station next week in the house.
And so there's been historically fast progress on the largest tax bill ever that also has a heck of a lot of smart spending cuts as well. And so if you think about it, trade is about 14% of the economy, not trade or domestic stuff is about 86% of the economy and, And we're about to give like an incredible vitamin shot to 86% of the economy. And nobody's even really talking about it.
And so there's been historically fast progress on the largest tax bill ever that also has a heck of a lot of smart spending cuts as well. And so if you think about it, trade is about 14% of the economy, not trade or domestic stuff is about 86% of the economy and, And we're about to give like an incredible vitamin shot to 86% of the economy. And nobody's even really talking about it.
Oh, well, I'd say that the language is already being finalized next week. And so the House expects that it's going to have a bill passed maybe the next three or four weeks. But the point is that you're going to see the bill. You're going to actually be able to start to talk about it in the news. You're going to start to see the bills next week, yeah.
Oh, well, I'd say that the language is already being finalized next week. And so the House expects that it's going to have a bill passed maybe the next three or four weeks. But the point is that you're going to see the bill. You're going to actually be able to start to talk about it in the news. You're going to start to see the bills next week, yeah.
Right. Well, the president has said that he thinks that there might be an argument for a higher marginal tax rate on people who are extraordinarily wealthy, but he doesn't think that now is the right time for that. And I think that it's also the case that if one did try to do that, it might be pretty heavy lift the hill. But the main theme
Right. Well, the president has said that he thinks that there might be an argument for a higher marginal tax rate on people who are extraordinarily wealthy, but he doesn't think that now is the right time for that. And I think that it's also the case that if one did try to do that, it might be pretty heavy lift the hill. But the main theme
really, is that we're reducing taxes on ordinary Americans, not cutting taxes for the wealthy. That's not the theme of President Trump's tax cuts. And so on the corporate side, he's creating even bigger incentives for people to build factories in the U.S., to create blue-collar jobs in the U.S. That's what he's doing on the corporate side. And on the individual side, he's
really, is that we're reducing taxes on ordinary Americans, not cutting taxes for the wealthy. That's not the theme of President Trump's tax cuts. And so on the corporate side, he's creating even bigger incentives for people to build factories in the U.S., to create blue-collar jobs in the U.S. That's what he's doing on the corporate side. And on the individual side, he's
highlighted things like no taxes on tips, no taxes on Social Security, and so on. And those are his main priorities. I could say that on the individual side, the new tax cuts are going to be, I think, even more impactful than what we saw last time. Again, and those tax cuts were amazing. But if you think about it,
highlighted things like no taxes on tips, no taxes on Social Security, and so on. And those are his main priorities. I could say that on the individual side, the new tax cuts are going to be, I think, even more impactful than what we saw last time. Again, and those tax cuts were amazing. But if you think about it,
Right now, for example, if you're a person who just retired and you're getting your Social Security and you decide your Social Security benefit isn't as high as you would like and you want to go back to work, then when you go back to work and you earn a dollar, they take away 50 cents of your Social Security benefit. Think about it.
Right now, for example, if you're a person who just retired and you're getting your Social Security and you decide your Social Security benefit isn't as high as you would like and you want to go back to work, then when you go back to work and you earn a dollar, they take away 50 cents of your Social Security benefit. Think about it.
So the highest taxed people on earth are the people who decide, hey, I need to get a little more money than my Social Security, so I need to go back to work. And that Social Security taxes 50 cents on the dollar before, and then the other taxes on top of it.
So the highest taxed people on earth are the people who decide, hey, I need to get a little more money than my Social Security, so I need to go back to work. And that Social Security taxes 50 cents on the dollar before, and then the other taxes on top of it.
And so President Trump recognizes there are a lot of people out there who would like to participate more in society, would like to work more, but are discouraged from doing so because of the very, very high tax rates. And that's the real main priority of this bill for us.
And so President Trump recognizes there are a lot of people out there who would like to participate more in society, would like to work more, but are discouraged from doing so because of the very, very high tax rates. And that's the real main priority of this bill for us.
Yeah, I could just say that as an individual, I 100% agree with you, although I guess government salaries being what they are, I'm not sure I'll be in the top tax bracket this year now that I'm after the White House. But the bottom line is that there are a lot of people who think that balancing the budget is important, and it really, really is.