how much will the Big Beautiful Bill save you every year ?

[dairyair]

we're not GIVING them anything, its taking LESS

and me? I'm thankful for every dime less the Fed Govt takes from me, absolutely

Stay off the interstates and most highways. Freeloader.

 

[hecatmoggie]

So debt is meaningless then.

$37 trillion overspent by our Fed Govt ... how much clearer can it get on how they view national debt ?

 

[hecatmoggie]

Reagan spent the most of any president in history as a percent of gdp.
You were shown this and then left the discussion.
Bush 2 was right there with Obama.

You are blind to the spending of both parties. Likely, based on your joy, you don't care.

Just admit, you are greatfiul you save a couple thousand $$$$ while your kids and grandkids are left paying the bill.

Stop blaming dems when you cheer about more debt when R's contribute as much and more.

I am more conservative than you. And just because I am NOT MAGA, doesn't make me liberal. To most of the world.

I am not surprised MAGA or so called fake conservatives don't care about the national debt. They make it more than any other group in history.

I'm very consistent in saying that both Dem's and Rep's have spent this country into $37 trillion in debt and right now its the GOP and Trump doing it

notice I'm not blaming previous administration , I'm not blaming Biden for anything handed off, this is Trump's administration and his 4 years

see how consistent that is ? I used to care about national debt ..... its ultra clear our Fed Govt and elected officials do not

 

[hecatmoggie]

LOL, as you cheer in this thread about how much free stuff you are getting.

you think the Govt taking less is the same as free ?

Stay off the interstates and most highways. Freeloader.

again ... paying taxes is one thing

paying gross amounts of taxes is another and all the while our Fed Govt is spending Trillions more than it brings in and sending hundreds of billions to other countries

probably something else you don't want to talk about right?

 

[eohrnberger]

What then do you mean when you talk about the CEO’s own failure. How has the CEO failed? As I said all rural hospitals are having difficulties. Now the new bill is only going to make things worse.

Would you say that successful CEOs deal with the situation and market conditions they are handed and make a successful organization from them?
I'd say yes. I'd also say that's why they get the big bucks, for that sort of impact on an organization.

The antithesis is also correct.
Unsuccessful CEOs don't effectively deal with the situation and market conditions which are handed them.

These unsuccessful CEOs who are blame shifting onto a law which hasn't even started to be applicable, hasn't even made a single change yet, are just doing exactly that, blame shifting onto a political target, no less.

This is why CEOs get the big bucks, and why when CEOs are fired, no one cries for them, as its all part of the job of being a CEO.

 

[hecatmoggie]

all those who don't get OT/tips


are ya'll not working? salary jobs ???

I see 3 are saying they're retired

 

[SavannahMann]

all those who don't get OT/tips


are ya'll not working? salary jobs ???

I see 3 are saying they're retired

OT is still taxed. Have you heard how it is going to be "tax free"? First, if you can deduct $12,500 at the end of the year, $25,000 if you are filing jointly with a spouse. But wait, there's more. Your Employer has to certify it is proper Overtime in accordance with the Fair Labor Act. We're not done yet. You have to use Itemized Deductions instead of the automatic deductions. Hold on, there is still more to discuss. If you make more than about $150k a year ($300k Jointly) you won't qualify for the no taxes on Tips.

So the tax cut for the Little to Upper Middle Class folks isn't going to do much for our Bottom Line is it?

Senate Passes No Tax on Tips and Overtime Provisions

Overview We reported in May on the provisions in the House’s One Big Beautiful Bill addressing two of President Trump’s campaign promises – no taxation of

www.theemployerreport.com

In fact, those who would get a larger deduction from the Automatic plan will actually end up paying more if they try and Itemize and don't cross the threshold won't they? So they'll lose the no taxes on Overtime unless they Itemize.

But hey, keep screaming that it is tax free Overtime, the folks in the Red Hats will totally believe you, right up until next year when they go to do their Taxes. Then they might not believe you all that much.

 

[hecatmoggie]

OT is still taxed. Have you heard how it is going to be "tax free"? First, if you can deduct $12,500 at the end of the year, $25,000 if you are filing jointly with a spouse. But wait, there's more. Your Employer has to certify it is proper Overtime in accordance with the Fair Labor Act. We're not done yet. You have to use Itemized Deductions instead of the automatic deductions. Hold on, there is still more to discuss. If you make more than about $150k a year ($300k Jointly) you won't qualify for the no taxes on Tips.

So the tax cut for the Little to Upper Middle Class folks isn't going to do much for our Bottom Line is it?

Senate Passes No Tax on Tips and Overtime Provisions

Overview We reported in May on the provisions in the House’s One Big Beautiful Bill addressing two of President Trump’s campaign promises – no taxation of

www.theemployerreport.com

there is always stipulations - sound like liberals would be happy that nobody over $150,000 gets it - those darn rich people need to pay their fair share right ?

In fact, those who would get a larger deduction from the Automatic plan will actually end up paying more if they try and Itemize and don't cross the threshold won't they? So they'll lose the no taxes on Overtime unless they Itemize.
But hey, keep screaming that it is tax free Overtime, the folks in the Red Hats will totally believe you, right up until next year when they go to do their Taxes. Then they might not believe you all that much.

its going to be good for people working OT

I know liberals hate it ... I'm sorry

 

[SavannahMann]

there is always stipulations - sound like liberals would be happy that nobody over $150,000 gets it - those darn rich people need to pay their fair share right ?




its going to be good for people working OT

I know liberals hate it ... I'm sorry

Good for the working people? Only if they can itemize above the minimum deduction. Most can't. I'm not the one who wrote it. Liberals had no input on the Law. Liberals voted against it. This is all the MAGA group. They are the ones who wrote it this way. They put those conditions on it. They made it unattainable for the poor and irrelevant for the Upper Middle Class folks. Not me. Not the Democrats. Nobody but the Trump Folks.

So why is it bad to speak the truth about it? Why is it bad to tell the truth about how it is essentially a bad deal for the poor and the Middle Class? Instead of cheering the false statement that Taxes on Overtime are gone! Why not discuss the truth?

 

[mrjurrs]

I agree with you as far as the ACA is concerned. Many have benefited from it. But Obama set race relations back years. He is an intelligent and charismatic man but not the Christian man he claims to be.

tff

 

[hecatmoggie]

Good for the working people? Only if they can itemize above the minimum deduction. Most can't. I'm not the one who wrote it. Liberals had no input on the Law. Liberals voted against it. This is all the MAGA group. They are the ones who wrote it this way. They put those conditions on it. They made it unattainable for the poor and irrelevant for the Upper Middle Class folks. Not me. Not the Democrats. Nobody but the Trump Folks.

So why is it bad to speak the truth about it? Why is it bad to tell the truth about how it is essentially a bad deal for the poor and the Middle Class? Instead of cheering the false statement that Taxes on Overtime are gone! Why not discuss the truth?

The impact of these changes will vary, and not always in favor of the workers who need it most.

https://www.newsnationnow.com/business/your-money/tax-break-tips-overtime-big-beautiful-bill/

While collectively more than 100 million people are eligible to avoid paying taxes on tips or overtime, only 8% of hourly workers and 4% of salaried workers get overtime, meaning many won’t see a direct benefit.
High-end tipped workers, such as servers at upscale restaurants, are likely to benefit far more than those working in lower-wage jobs, where tip amounts are smaller.


12 million people are impacted - that's a lot of people and likely even more. Will they see a direct benefit? Unknown, I don't know how people do their taxes nor do you

I DO know it'll impact me directly in a very good way




Had Democrats had their way, NOT A SINGLE PERSON would have gotten a tax break on this. That's the difference

 

[SavannahMann]

The impact of these changes will vary, and not always in favor of the workers who need it most.

https://www.newsnationnow.com/business/your-money/tax-break-tips-overtime-big-beautiful-bill/

While collectively more than 100 million people are eligible to avoid paying taxes on tips or overtime, only 8% of hourly workers and 4% of salaried workers get overtime, meaning many won’t see a direct benefit.
High-end tipped workers, such as servers at upscale restaurants, are likely to benefit far more than those working in lower-wage jobs, where tip amounts are smaller.


12 million people are impacted - that's a lot of people and likely even more. Will they see a direct benefit? Unknown, I don't know how people do their taxes nor do you

I DO know it'll impact me directly in a very good way




Had Democrats had their way, NOT A SINGLE PERSON would have gotten a tax break on this. That's the difference

Let me make sure I understand this. I linked to a site that provides consulting services to Employers so they can comply with the law. You link to a propaganda site that puts out fantasy. I understand why you are upset now.

 

[SMTA]

No you won't. You'll just spend it on hidden tariffs.

WW

And the OP goes down in the flames of truth.

 

[SavannahMann]

Since our OP doesn’t do math let me help her out. To qualify for the no taxes on overtime you have to make less than $150,000 a year, and itemize your deductions. To itemize and do better than the standard deduction you have to have more than $15,000 in allowable deductions. Things like Interest on home loans, uncovered by insurance medical bills, and expenses for work not covered by your Employer.

So our notional person spends more than 10% of their Gross Pay (before taxes) on allowable expenses. If they do, and only then, will $12,500 of Overtime Pay or Tips not be subject to Federal Income Tax. This money will still be taxed for Social Security and Medicare and any State or Local Taxes.

If the notional individual manages to jump through a lot of hoops then they can get maybe an additional $800.

Huge win. Huge. Never seen anything like it before. I bet a lot of people will pay off their houses next year when this windfall comes through. I can hear them singing now. We’re in the money. With all this newfound disposable income I bet they won’t notice that inflation continues to rise.

 

[George50]

Would you say that successful CEOs deal with the situation and market conditions they are handed and make a successful organization from them?
I'd say yes. I'd also say that's why they get the big bucks, for that sort of impact on an organization.

The antithesis is also correct.
Unsuccessful CEOs don't effectively deal with the situation and market conditions which are handed them.

These unsuccessful CEOs who are blame shifting onto a law which hasn't even started to be applicable, hasn't even made a single change yet, are just doing exactly that, blame shifting onto a political target, no less.

This is why CEOs get the big bucks, and why when CEOs are fired, no one cries for them, as its all part of the job of being a CEO.

They also get the big bucks for bailing on what was a marginal situation when they realize that the government has just passed a law that is going to turn things into a loser.

 

[George50]

Since our OP doesn’t do math let me help her out. To qualify for the no taxes on overtime you have to make less than $150,000 a year, and itemize your deductions. To itemize and do better than the standard deduction you have to have more than $15,000 in allowable deductions. Things like Interest on home loans, uncovered by insurance medical bills, and expenses for work not covered by your Employer.

So our notional person spends more than 10% of their Gross Pay (before taxes) on allowable expenses. If they do, and only then, will $12,500 of Overtime Pay or Tips not be subject to Federal Income Tax. This money will still be taxed for Social Security and Medicare and any State or Local Taxes.

If the notional individual manages to jump through a lot of hoops then they can get maybe an additional $800.

Huge win. Huge. Never seen anything like it before. I bet a lot of people will pay off their houses next year when this windfall comes through. I can hear them singing now. We’re in the money. With all this newfound disposable income I bet they won’t notice that inflation continues to rise.

Also don’t forget that the administration’s next step is to burden them with tariffs that are likely to make that $800 disappear.

 

[dairyair]

I'm very consistent in saying that both Dem's and Rep's have spent this country into $37 trillion in debt and right now its the GOP and Trump doing it

notice I'm not blaming previous administration , I'm not blaming Biden for anything handed off, this is Trump's administration and his 4 years

see how consistent that is ? I used to care about national debt ..... its ultra clear our Fed Govt and elected officials do not

LOL.

The only people you ever mention are dems, particularly biden and obama.
Even though as a % of gdp, Reagan spent more than any other president in history. Outside wartime presidents.

And in this thread you are happy about getting more fed $$$$ while the debt increases as a result.

 

[dairyair]

you think the Govt taking less is the same as free ?


again ... paying taxes is one thing

paying gross amounts of taxes is another and all the while our Fed Govt is spending Trillions more than it brings in and sending hundreds of billions to other countries

probably something else you don't want to talk about right?

Govt taking less = more debt.
They have bills to pay just like every adult person.