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Started By
Message
Trump’s next tax policy should be on bonuses
Posted on 9/13/24 at 10:46 am
Posted on 9/13/24 at 10:46 am
Think he could do a really populist policy w bonuses so that taxes on bonuses under 25k are tax free, bonuses between 25k and say 100k are taxed as normal income rates, and over 100k taxed at 55%.. to target the gross bonus culture in corporate America to CEOs.
Would be a good policy for most normal Americans but also not reward corporate greed
Would be a good policy for most normal Americans but also not reward corporate greed
21
Posted on 9/13/24 at 10:48 am to Lsujacket66
quote:
over 100k taxed at 55%
Yeah, frick all of that.
Posted on 9/13/24 at 10:48 am to Lsujacket66
Should go back to the old contractor rules for per diem pay too.
Posted on 9/13/24 at 10:52 am to Lsujacket66
quote:
Think he could do a really populist policy w bonuses so that taxes on bonuses under 25k are tax free, bonuses between 25k and say 100k are taxed as normal income rates, and over 100k taxed at 55%.. to target the gross bonus culture in corporate America to CEOs.
Would be a good policy for most normal Americans but also not reward corporate greed
Everybody and their brother would work the loop holes and cheat this tax code into oblivion.
Posted on 9/13/24 at 10:53 am to Lsujacket66
At most companies, from directors up, 50% their compensation is a bonus on how the company performs.
This policy would be juicy. The numbers might not be manipulated as much.
This policy would be juicy. The numbers might not be manipulated as much.
Posted on 9/13/24 at 10:53 am to Warboo
quote:
Everybody and their brother would work the loop holes and cheat this tax code into oblivion.
I would 100% structure some of my income as bonuses.
Posted on 9/13/24 at 10:55 am to Warboo
All this tip and overtime stuff and bonus stuff does seem pretty insane from an employer perspective.
Just exempt income below a certain level.
Lots easier to understand.
Just exempt income below a certain level.
Lots easier to understand.
Posted on 9/13/24 at 11:04 am to Lsujacket66
well look at that, all my bonuses are $24,000
Posted on 9/13/24 at 11:09 am to FishinTygah84
quote:
all my bonuses are $24,000
I will get a $24000 bonus every other month.
Posted on 9/13/24 at 11:12 am to Lsujacket66
he should just say No income tax - move to a national sales tax. Then Kamala will copy it and we will be set
Posted on 9/13/24 at 11:16 am to AubieinNC2009
quote:
he should just say No income tax - move to a national sales tax.
He's thrown some shiny hooks that she's already bit. She'd swallow that one like Willie Brown.
Posted on 9/13/24 at 11:18 am to Warboo
Good who cares if the gov has loop holes filled tax codes?
Posted on 9/13/24 at 11:19 am to Lsujacket66
This is all great but to be serious here.... everyone suddenly having extra cash would be bad for inflation, no?
Posted on 9/13/24 at 11:23 am to Lsujacket66
His policy should be about layoffs.
If you're laid off you should not pay any federal taxes in the current year or subsequent year. Also, any withdraws from retirement accounts should not be taxed or penalized.
If you're laid off you should not pay any federal taxes in the current year or subsequent year. Also, any withdraws from retirement accounts should not be taxed or penalized.
Posted on 9/13/24 at 11:25 am to TxWadingFool
quote:
over 100k taxed at 55%
Ummmm…..GFY with that policy
Posted on 9/13/24 at 11:33 am to Lsujacket66
The problem with that is that companies would structure their compensation packages as mostly bonuses, so the government would have to raise the overall tax rates.
Posted on 9/13/24 at 11:34 am to Lsujacket66
I would love this so much
Posted on 9/13/24 at 11:37 am to jcaz
quote:
This is all great but to be serious here.... everyone suddenly having extra cash would be bad for inflation, no?
The amount of cash doesn’t change. The holder of the cash changes.
Velocity of money may play a part, but nowhere near as much as the Fed’s daily antics.
Posted on 9/13/24 at 11:41 am to Lsujacket66
quote:
and over 100k taxed at 55%.
Yeah, screw that! Why should the government get 55% of anyone’s bonus?
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