06/11/2025
With information so readily available, I encourage everyone to actually deep dive into the issues and policies our politicians are facing and enacting. Today's call out: President Trump Big Beautiful Bill
How does this affect you? See below
Trump’s Tax Bill: What It Actually Does for Different Income Groups
Lower Earners (Under ~$40K/year):
✔️ Slight rate change (10% → 12%)
✔️ Standard deduction doubles
✔️ Child Tax Credit doubles
➖ Lose personal exemptions
➖ Modest overall benefit
Middle Class (~$40K–$150K/year):
✔️ Lower tax rates (e.g., 25% → 22%, 28% → 24%)
✔️ Standard deduction nearly doubles
✔️ Child Tax Credit expanded
➖ SALT deduction capped at $10K
➖ Mortgage interest deduction capped
➡️ Net result: moderate savings, varies by state
High Earners (Above $150K/year):
✔️ Top tax rate drops (39.6% → 37%)
✔️ Estate tax exemption doubles
✔️ Big win from corporate tax cut (35% → 21%)
✔️ Pass-through business income gets 20% deduction
➖ Fewer itemized deductions
➡️ Net result: largest financial gains overall
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Who Benefits the Most?
🔹 High earners and large corporations gain the most — in both size and long-term savings.
🔹 Middle-class families get some relief, but it’s smaller and depends on local tax policies.
🔹 Low-income Americans see minimal change, with some credits helping more than rates.
