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Started By
Message
Trump’s BBB
Posted on 6/30/25 at 9:36 am
Posted on 6/30/25 at 9:36 am
How is the no tax on overtime going to work? Oilfield workers generally work 84 hours a week. So they pay no taxes on the 44 hours of pay?
5
Posted on 6/30/25 at 9:46 am to tigger4ever
Good for them. Income tax is theft at the end of the day
No tax on overtime will probably be a bad thing mentally, as more people may seek to work overtime for the added money, but will have less down time in their lives.
No tax on overtime will probably be a bad thing mentally, as more people may seek to work overtime for the added money, but will have less down time in their lives.
Posted on 6/30/25 at 9:46 am to tigger4ever
quote:
How is the no tax on overtime going to work? Oilfield workers generally work 84 hours a week. So they pay no taxes on the 44 hours of pay?
I would imagine it’s not going to be as good and people think. Probably still have to pay state tax, Medicare, and social security tax.
Wonder if it will only be the difference in your hourly rate vs overtime rate. So if you make $30 and hr and $45 for over time, do you not pay taxes on the $15 or the whole $45.
Would suck if they put on income cap on it also like the EV tax credit. It would frick down the plant baws.
I remember thinking I would get the $7500 tax credit when I bought my Tesla but didn’t realize they had an income cap.
Posted on 6/30/25 at 9:49 am to Rize
quote:
Wonder if it will only be the difference in your hourly rate vs overtime rate. So if you make $30 and hr and $45 for over time, do you not pay taxes on the $15 or the whole $45.
I haven't kept up with the flurry of recent changes, but at least last I checked, it would only be for the $15 in overtime pay, in your example.
Posted on 6/30/25 at 9:52 am to Joshjrn
quote:
I haven't kept up with the flurry of recent changes, but at least last I checked, it would only be for the $15 in overtime pay, in your example.
That’s still great.
Shits so fricking expensive nowadays.
Posted on 6/30/25 at 10:19 am to tigger4ever
quote:
How is the no tax on overtime going to work?
It's not. They will still find a way to tax regular folk.
Posted on 6/30/25 at 12:03 pm to boogiewoogie1978
Last I read during the House process was there would be an overtime cap amount with a phaseout based on your income. Who knows what is in BBB now.
Posted on 6/30/25 at 12:36 pm to DarthRebel
quote:
Income tax is theft at the end of the day
and here we go
Posted on 6/30/25 at 2:58 pm to tigger4ever
From what I just read, the income limit is $160,000 and does not apply to self employed workers. Still have to pay social security and Medicare out of it. It’s just until 2028.
Posted on 6/30/25 at 9:19 pm to tigger4ever
That’s the shite part of this, I know several SE people working more overtime than plant baws, but the accounting for this was always going to be impossible
Posted on 7/1/25 at 4:03 pm to DraggingPride
This would be a Federal Tax exemption. So lets say you worked 55 hrs in Fl and in LA,
The person in FL would pay Fed on 40 hrs.
The person in LA would pay Fed and state on 40 hr and continue to pay state on the extra 15 hrs at whatever rate LA charges OT.
SS would be charged in both cases on all hrs and if and when you met the SS cap, then that would stop.
The person in FL would pay Fed on 40 hrs.
The person in LA would pay Fed and state on 40 hr and continue to pay state on the extra 15 hrs at whatever rate LA charges OT.
SS would be charged in both cases on all hrs and if and when you met the SS cap, then that would stop.
This post was edited on 7/1/25 at 6:44 pm
Posted on 7/2/25 at 9:41 am to tigger4ever
The whole concept is stupid. We need a more straight forward tax system without so many loopholes.
Posted on 7/2/25 at 9:48 am to KWL85
its gonna do very little for high wage earners I can promise you that.
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