When it comes to big new laws, the headlines often tout broad benefits. But a closer look at what's being called "The One, Big, Beautiful Bill" reveals a more complex picture, especially for those making $30,000 or less per year. While there are some perks like deductions for tips and overtime, a deeper dive suggests potential downsides that could hit low-income households hardest in the long run. The Good (But Not Totally Free) News: Tips and Overtime You might have heard about the bill's promise of "no tax on tips and overtime." This is a big draw, especially for service industry workers and those who put in extra hours. The reality is that it's more of a tax deduction than a complete tax elimination. Think of it this way: these earnings will be subtracted from your income before your federal income tax is calculated. This means you'll owe less in income tax. However, a crucial point to remember is that Social Security and Medicare taxe...