'NO TAX' is FAKE NEWS!
I guess I'm a bit surprised that Folks aren't doing the math on these 'NO TAX' promises.
Re: Overtime, there is a cap of $12.500. So, if you make $20 hr. and time & a half=$30, only 8 hrs. of overtime per wk. is 'NO TAX'. Of course, if you make more than $20 hr. it will be less than 8 hrs.
Re: Tips, the cap is 25K. So, if you're a waitress you can earn up to $480wk in tips before they are taxed. They get approx. $100 a month, $25 a week, savings by this supposed "NO TAX". Does that even make a dent in the hike of insurances, groceries, medical needs, etc.? CRUMBS!
Those on SS get the worst break. They don't really get 'NO TAX'. What the elderly, crippled, Vets, etc. who depend on SS get is a 6K deduction on their SS for taxes. Now that's good if you have no other income. If, however, you have income from a pension, rental, interest, 401K, etc., the 6K deduction is helpful but a far cry from 'NO TAX'.
I really hope this deception of the 'NO TAX' on SS, Tips, Overtime is exposed soon. If not, many will be surprised when they do their 2025 taxes. Will their 'surprise' then affect the midterm vote? Time will tell. But like this 'Einstein' thing, we don't need any more deception or surprises.
Also, these ‘NO TAX’ promises are temporary, through 2028.
Promises made… Promises BROKEN!
This is the only article I've seen that has addressed this:
'Taxes on Social Security benefits were not eliminated despite what you've heard' by Susan Tompor.
Within just 2 days after the BBB was signed, all attention was diverted to 'Epstein'. More deflection then went to Powell and the almost daily bullying and attacks on him. This was followed up by the accusations of the 2016 election. No one is discussing in any depth the BBB and its ramifications. This Broken Promise of 'NO TAX' needs to be exposed.
