Valuetainment - May 23, 2025


＂Golden Age Of America＂ - Trump’s Big Beautiful Bill Passes SHOCKING Everyone


Episode Stats


Length

14 minutes

Words per minute

209.53955

Word count

2,958

Sentence count

238

Harmful content

Misogyny

3

sentences flagged

Hate speech

3

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The Tax Cuts and Jobs Act passed the House of Representatives and is headed to President Trump's desk on July 4th. We talk about the process of getting this done and what it means for the economy and the country.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 The big, beautiful bill that the president was talking about, because this has to do with taxes.
00:00:05.040 This has to do with how you're going to be paying taxes moving forward.
00:00:08.000 A lot of people didn't think this was going to get done.
00:00:10.360 There was a lot of challenges with it, but it eventually ended up happening.
00:00:13.820 And I'm going to read some stuff here, Rob.
00:00:15.620 I think you also have the whole thing in place if you want to play the clip.
00:00:18.620 The House Rule Committee approved President Trump's big, beautiful bill in an 8-4 vote with Speaker Johnson stating at 1 a.m. Wednesday,
00:00:26.760 a very close to resolving GOP disputes, enabling a potential House-wide vote by Wednesday night or early Thursday morning.
00:00:34.440 That's Thursday morning here today.
00:00:36.400 A key amendment introduced at 9 p.m. Wednesday, accelerated Medicaid work requirements from 28, 2029 to December 2026
00:00:43.360 for able-bodied recipients and ends green energy tax subsidies by 2028 unless they show quick returns.
00:00:50.760 Addressing demands from blue state Republicans for higher salt detection caps and conservative-like Representative Chip Roy,
00:00:56.760 and Ralph Norman for stricter Medicaid rules and repeal Biden's inflation reduction at subsidies.
00:01:03.120 Rob, if you want to play this clip, and then we'll get right into it.
00:01:05.920 We look forward to the Senate's timely consideration of this once-in-a-generation legislation.
00:01:10.680 We stand ready to continue our work together to deliver on the one big, beautiful bill, as President Trump named it himself.
00:01:18.340 We're going to send that to his desk.
00:01:20.240 We're going to get it there by Independence Day on July 4th, and we are going to celebrate a new golden age in America.
00:01:27.480 Tom, what's in this big, beautiful bill, and why should everybody be paying attention?
00:01:31.800 Well, you know, when Biden had the Inflation Reduction Act, a lot of people, including us, looked into it and said,
00:01:38.820 what the hell, right, what's going on?
00:01:41.120 Well, this is a continuation.
00:01:43.720 This means that the Trump tax breaks that have all been part of the budget of the United States and they've been in place for years, including during Biden, will not be expiring.
00:01:56.620 So taxes are not going to go up on Americans at the time where they could at least use them going up right now as with the economy adjusting.
00:02:05.340 So that was number one.
00:02:06.280 But then some good things happened.
00:02:08.240 There was a bunch of green energy stuff in there that even at the time people said, you're giving away subsidies for nothing.
00:02:14.080 They're not showing that the green energy was saving money or saving on investment in new energy plants because we need nukes.
00:02:22.920 Thank you.
00:02:23.280 And they put a work requirement in that if you're going to get Medicaid, you're going to get food stamps, there's a work requirement.
00:02:30.360 And if you work, Vinny, what do you got to have?
00:02:32.200 You got to have a green card.
00:02:33.400 So guess what?
00:02:35.120 So they're arguing, the Democrats are arguing, hey, you know, there's, you know, three million people aren't going to be able to get to the SNAP program.
00:02:41.820 Well, that's like an EBT card that you can go buy food with.
00:02:44.560 Well, guess what?
00:02:45.160 No, no, no, no, no.
00:02:45.880 If you're working or you're trying to work or you have a green card, you can take advantage of it as low income.
00:02:51.400 But if you are, you just, you know, walked across from some foreign place and you're not supposed to be here, uh-oh, you can't use it. 0.98
00:02:59.720 So all that was good.
00:03:01.520 And I think this is a really good bill.
00:03:04.520 Now, what we need to get is the fine print, Pat, and we don't have the fine, fine print.
00:03:08.180 And we're going to see that because July 4th he's talking about is it's got to go the Senate.
00:03:12.800 And Senate's going to arm wrestle over, but then Republicans are going to, you know, pass it. 0.76
00:03:17.340 It's going to happen, and then he's going to sign it.
00:03:18.920 I think he's absolutely going to sign it on July 4th.
00:03:21.160 And as a matter of fact, I don't think he wants to sign it, Pat, until July 4th.
00:03:25.220 He doesn't need to sign it until then because the tax cuts were the end of the year.
00:03:28.940 So I think it's a good thing.
00:03:32.140 Is it a celebratory thing?
00:03:34.060 On a 1 to 10, I'm at about an 8.5 because it continues the tax cuts.
00:03:38.300 And they're moving forward, and they're actually putting some requirements on things.
00:03:41.760 And no taxes on tips I like, no taxes on overtime pay, and no taxes on car loan interest.
00:03:49.360 Now, when you hear that one, that's part of fine print because who's that going to help?
00:03:53.880 The auto industry that's trying to sell cars.
00:03:56.000 But is it car loan interest of automakers that the car's made in the U.S. or any car loan interest?
00:04:00.720 We need to assess this part of what I want to see is the fine print.
00:04:03.020 Can you specify that, Rob?
00:04:03.480 Can you find that if the car loan interest is for it?
00:04:05.700 Because what I heard is the fact that the car loan interest is specific to cars that are made in America.
00:04:12.140 And by the way, to add a few different things, here's what I looked up, Adam, before I come to you.
00:04:16.480 I asked the question, this big, beautiful bill that just passed, I want to know specifics of how it impacts the poor, the middle class, the upper class, and the super wealthy.
00:04:24.460 So here's a low income, bottom 10%.
00:04:26.480 Household resources are projected to decrease by 2% by 2027 and 4% by 2023.
00:04:33.140 Medicaid cuts approximately 8.6 million people could lose Medicaid coverage due to $716 billion in program cuts and new work requirements.
00:04:41.300 You have to have certain requirements to get that, apparently.
00:04:44.440 And, of course, we're going to learn more about this.
00:04:45.820 This next one is very, very important.
00:04:47.800 This next one says, an estimated 3 million individuals may lose monthly food assistance benefits as a result of nearly $300 billion cuts to the Supplemental Nutritional System, the SNAP program, right?
00:04:59.360 So guess what?
00:05:00.020 If you're no longer getting the welfare program, you have to go get a job.
00:05:03.040 Under Obama, if you guys remember, the unemployment checks went from 90 days to 6 months to 12 months.
00:05:09.600 I even believe at one point they hit 24 months.
00:05:11.780 Guess what people were doing?
00:05:12.880 Nobody was looking for jobs.
00:05:13.940 Of course not.
00:05:14.320 The moment they cut that unemployment rate to like 90 days or 6 months, everybody started looking for jobs.
00:05:19.540 So this $300 billion that's cut on SNAP, they have to go get that money somewhere else.
00:05:23.900 Middle income temporary increases in child tax credit up to $2,500.
00:05:29.080 No deductions on tips, overtime, and car loan interest.
00:05:33.160 I want to know the car loan interest, Rob, if that is a U.S. car loan interest or any car loan interest.
00:05:38.000 And then there's a couple other things there.
00:05:40.380 Elimination of federal subsidy, student loan for undergraduates, potentially increasing higher education expenses, high income individuals, top 10%.
00:05:47.420 Household resources are expected to rise by up to 4% in 2027, primarily due to tax cuts.
00:05:54.220 Extension of 2017 tax, Trump era tax, increased state and local SALT deduction up to $30,000.
00:06:01.280 That's the cap, creation of $1,000, MAGA savings account for children, creation of $1,000, make America great again, saving accounts for children.
00:06:10.420 Everybody born after 2024.
00:06:12.420 Everybody born after 2024 gets a $1,000 MAGA savings account for children.
00:06:17.340 That's sick.
00:06:17.840 That's sick.
00:06:18.200 And it's tax advantage so that the parents can keep it and keep contributing.
00:06:22.180 And as it grows, it's tax advantage.
00:06:24.160 Go make some babies, but still have a job and don't rely on SNAP.
00:06:27.500 Go make some babies and do it right. 1.00
00:06:28.520 Oh, SNAP. 0.99
00:06:29.360 Estate and endowment taxes, reduction of estate and new taxes on large university endowments.
00:06:34.500 And that's kind of what you have, extension of 2017 cuts, a couple other things that they had there.
00:06:38.280 But that's pretty much it.
00:06:39.860 Adam, your thoughts on this.
00:06:41.000 I think Tom nailed it.
00:06:42.580 You know, it's going to be one beautiful bill, one big, beautiful bill.
00:06:46.480 And I think that's what we're going to.
00:06:47.860 Good to see that Congress still exists because Trump has just taken all the oxygen out of the room since he became president.
00:06:54.580 Everything is going on with the Trump show.
00:06:56.920 But this is going to pass.
00:06:59.440 And I'll tell you why.
00:07:00.560 Who controls Congress and it's not even close?
00:07:02.980 It's the Republicans.
00:07:04.360 So how many congressional districts turned Democrat in this past election?
00:07:10.660 I think it's zero.
00:07:12.120 Everything went towards the right.
00:07:14.580 Everything.
00:07:15.260 Everything.
00:07:15.600 So, you know, the old conversation with Vinny's best friend, Stephen A. Smith.
00:07:19.320 It's a mandate.
00:07:20.920 Not that kind of mandate, Vinny.
00:07:22.860 But everything is going to.
00:07:24.720 You like that, Tom?
00:07:25.700 Everything is going to pass because they control Congress.
00:07:28.340 By the way, Congress, the House, they have, I think they're plus eight seats, 220 to 212.
00:07:33.180 In the Senate, they're up, I think, six seats, 53 to 47.
00:07:36.620 This is going to pass.
00:07:37.800 And it will probably pass exactly as Trump wants it on July 4th.
00:07:43.100 Happy anniversary.
00:07:44.040 Happy birthday, America.
00:07:46.600 This is what's going to happen.
00:07:47.700 By the way, I was at the Wall Street conference yesterday.
00:07:49.500 Jason Lyons event and Byron Donald spoke and he talked about this exact bill, this big, beautiful bill.
00:07:56.280 And he said this.
00:07:57.660 He goes, you know, the Trump tax cuts that they passed in 2017.
00:08:01.600 You know how I know that they're actually going to stay and how they're legit and why they're so good?
00:08:06.020 Because the Democrats didn't do anything to try to reverse them in the last five years.
00:08:11.960 It's almost like, did you notice that Biden didn't do anything to reverse all the policies against China?
00:08:18.800 Nothing.
00:08:19.060 He kept the Trump's policies, the tariffs on China.
00:08:22.400 Nothing changed.
00:08:23.040 Now Trump's jumbling down.
00:08:24.400 But the Democrats, apparently from Byron Donald, did not do anything to reverse the Trump tax cuts.
00:08:29.900 So it looks like this big, beautiful bill will pass.
00:08:33.440 Great point, Adam.
00:08:34.220 And I'll add one thing in one sentence.
00:08:36.620 Neither did Bill Clinton when he got to office.
00:08:39.120 He didn't touch the Reagan program, which was consistent.
00:08:42.080 There you go.
00:08:42.720 That's interesting to know.
00:08:43.620 He was touching other programs.
00:08:45.000 And by the way, I just asked right now, I just found that the interest, the car loan interest applies only to cars assembled in the U.S.
00:08:52.420 If it's not, you don't participate in that.
00:08:54.420 It's only assembled in the U.S. is what that's all about.
00:08:58.020 You think this is going to pass, PBD, just like this?
00:09:01.080 The way it is right now with the Senate?
00:09:02.220 Like it passed the House, now it's going to the Senate.
00:09:04.180 Look, when Hakeem Jeffries, who is the minority. 0.88
00:09:09.580 The dream.
00:09:10.120 He's the dream.
00:09:10.940 When he only gets up for 30 minutes to debate and fight this.
00:09:16.320 And if you remember Kevin McCarthy, he stood up for hours and hours and hours and hours and hours talking about how this is terrible.
00:09:24.040 Guess what they're saying?
00:09:24.860 They're not fighting.
00:09:26.080 They're accepting.
00:09:27.120 This is passing.
00:09:28.240 Tough to fight.
00:09:28.680 There's not a fight.
00:09:29.640 Yeah, there's not a fight.
00:09:30.420 And Tom, you said that this was an eight, eight and a half as a pot from one out of ten.
00:09:37.020 Yeah, I think this is an eight and a half.
00:09:39.900 And I want to see the fine print because they really went down through multiple areas.
00:09:45.020 And that's the purpose of Congress to do.
00:09:48.320 That's what they're supposed to do.
00:09:49.580 And how much?
00:09:50.780 Remember Nancy Pelosi?
00:09:51.980 We'll find out what's in it after we do.
00:09:54.080 And how much does this help towards a victory for the midterms?
00:09:59.360 Because, I mean, at the end of the day, that's what he's going for.
00:10:02.260 Let me tell you how I work, Vinny.
00:10:03.600 I'm a businessman.
00:10:05.000 When on day 99 I gave it a C-, I gave it a C- on what's been done, not what's pending.
00:10:11.600 As a salesperson or person that runs business, you have a lot of things that's going on.
00:10:15.700 But unless if you close the deal, it's just a good idea, right?
00:10:21.160 So today, from they're at C-, to where they're at, and they get this done by 4th of July,
00:10:25.340 that C- could be a B-plus like this with everything that's going on.
00:10:29.100 Headed towards an A-, A-, and an obvious thing.
00:10:31.980 It's getting there.
00:10:32.600 And I think, by the way, I'm telling you this.
00:10:34.300 I'm going to keep repeating this.
00:10:35.220 I said this.
00:10:35.680 Everywhere I go right now, I was on Jesse, I said this.
00:10:38.040 I was on Benny yesterday, I said this.
00:10:40.120 Brace for impact.
00:10:41.760 2026, if you haven't heard me say this already,
00:10:43.740 President Trump turns 80 on June 15th, next year.
00:10:47.740 America turns 250 years old next year.
00:10:51.120 World Cup is coming here.
00:10:52.740 IPO market's going to open up.
00:10:55.480 2026 is going to be the most magical year to be living in America in our lifetime.
00:11:03.520 Let me say it again.
00:11:05.280 2026 is going to be the most magical year you've ever lived in America in our lifetime.
00:11:12.300 Again, 2026 will be magical because of everything that's coming together right now.
00:11:18.600 It's very simple.
00:11:19.420 We have the Vol Conference that's coming up.
00:11:20.700 We do this once a year.
00:11:21.340 This year, we're expecting 12,000 people.
00:11:22.940 The last year, we had 1,500 husband and wives that were there.
00:11:25.700 And one of the things the guys, the David Consultant, they say,
00:11:29.320 a lot of people ask about how to balance this with family and the kids and all this other stuff.
00:11:34.000 How do you do this?
00:11:34.520 I said, listen, why don't we just do this?
00:11:36.400 Why don't we just do a free webinar on family, how to be a killer in business without killing your marriage?
00:11:44.420 And I said, I'm going to talk about all the mistakes I've made, okay?
00:11:46.840 And we're going to talk about how we balance all this stuff together.
00:11:48.740 So that picture they put together, for some of you guys that think that's really me with all those hands, it's not.
00:11:53.360 It's just a great job.
00:11:54.820 Shout out to our guys at Graphic Design.
00:11:56.760 Rob, if you want to play the clip, go ahead and play the clip.
00:11:58.600 You know what's scary for some people is they want to be a killer in business.
00:12:01.480 They want to do a great job as an executive, as a CEO, entrepreneur, business owner,
00:12:04.740 but they don't want to kill their marriage.
00:12:06.120 So how do you balance that out?
00:12:07.140 You want to go make all the money, travel, win for your family,
00:12:10.200 but you want to stay married, you want to have a good relation with your kids,
00:12:12.620 you want your kids to still want to see how do you do this?
00:12:14.220 There's four things, by the way.
00:12:15.120 You ready?
00:12:15.800 Write these down.
00:12:16.820 Number one, you're allowing your family and friends make you feel guilty for your vision,
00:12:21.360 which is going to create resentment towards them.
00:12:23.200 You don't want that.
00:12:24.140 Number two is you lack clarity around the vision.
00:12:26.740 You don't really know what you're doing it for.
00:12:28.080 So work-life balance is a question that comes up for people that are not clear of what they want to do.
00:12:32.640 They haven't had the conversation with their family.
00:12:34.760 Number three is the concept of being intentional with the time you're spending with your family.
00:12:38.900 And number four is maybe you're just looking for an excuse to not work that hard
00:12:42.400 because your family's not bothering you.
00:12:44.440 You're just looking for it.
00:12:46.000 This concept of work-life balance comes up every single day with people who ask me this question.
00:12:51.860 On June 11th, I'm hosting a free webinar for one hour to talk about work-life balance
00:12:56.880 with the people that don't have the answer to the questions there,
00:12:59.480 just like I didn't have it at that time.
00:13:01.060 I'm married now with four kids, running all these businesses.
00:13:04.080 Some days you feel like you can't.
00:13:05.320 You don't know what the hell you're doing.
00:13:06.540 All I'm going to do is share with you mistakes I've made and things that are working for me.
00:13:09.800 So if it's important to you, get registered.
00:13:12.220 Tell your wife, your husband.
00:13:13.580 Get everybody on together to listen up.
00:13:16.220 We're going to go through it for one hour.
00:13:17.360 Again, on June 11th, register because it's limited seating on this webinar.
00:13:22.080 I'll see you there.
00:13:23.740 Come join us, guys.
00:13:24.840 June 11th, 1230.
00:13:25.780 Put it in your calendar.
00:13:26.840 By the way, I may have my wife and one of my kids maybe join me as well.
00:13:30.000 Rob, what is the website for them to go register for this free webinar?
00:13:33.580 VTwebinar.com.
00:13:35.340 VTwebinar.com.
00:13:36.160 We have limited to 3,000 seats, so just make sure you go get registered.
00:13:39.140 Again, VTwebinar.com.
00:13:40.140 Can I say one thing about this?
00:13:41.340 Yeah, of course.
00:13:41.580 Because you've done how many webinars?
00:13:43.280 I've done a lot of webinars, but we've never done a webinar on this.
00:13:46.440 This has been coming up a lot the last 60, 12 months.
00:13:48.500 In my opinion, based on the conversations I have with everyone out there,
00:13:51.300 this actually might be the most important webinar you've ever done.
00:13:54.920 I'm in the process of figuring it out.
00:13:56.760 I'm in the process of learning this stuff, but I can't wait to have this one with you guys.
00:13:59.600 Well, you know the secret.
00:14:00.160 We're going to have a lot of fun with this.
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