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Started By
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1
Posted on 4/24/25 at 12:53 pm to billjamin
Would FICA taxes still apply to that though or is that also theoretically exempt?
Posted on 4/24/25 at 12:56 pm to dgnx6
quote:
Let's not reduce taxes because we already have a complicated tax code.
No one said that, jerky.
Posted on 4/24/25 at 12:57 pm to Powerman
quote:
Yes we have a standard 50 hour work week with the possibility of having to work Saturdays at some point with no extra income
Yikes. Sounds horrible unless your work is your life.
This post was edited on 4/24/25 at 12:58 pm
Posted on 4/24/25 at 1:00 pm to theballguy
Saturdays are pretty unlikely to happen with this contract
But I've worked my fair share of Saturdays when I was on the Oil & Gas side of things
But I've worked my fair share of Saturdays when I was on the Oil & Gas side of things
Posted on 4/24/25 at 1:03 pm to Powerman
If it is up to Massie, it will not happen.
Posted on 4/24/25 at 1:03 pm to jrodLSUke
I'm assuming it won't happen and will make my decision based on it not happening
Posted on 4/24/25 at 1:03 pm to deeprig9
quote:
Because it requires an act of congress
Wait, I thought Trump was going to sign an EO that he supports people that work OT and that would be the end of it.
Posted on 4/24/25 at 1:17 pm to GeauxtigersMs36
quote:
how likely will those voters vote again Republican
Hard to tell but I would expect them to take a hit. Trump himself has some insulation from it because Congress needs to act on it.
quote:
Most people I know believed it would happen.
That's the good and bad about campaign promises. It gives you reason to hope when you hear things to get excited about but the political reality may not allow for it.
quote:
blue collar workers building americas manufacturing, power, and other industrial plant as per his agenda
Those guys and gals have my respect. I worked it when I was younger and 12 hour shifts are grueling. I made the plastic that would become the liner for adult diapers. It was hot as hell and you were beat up at the end of the shift. I am a big fan of Mike Rowe and what he has done to try and bring back the Trades and putting a spotlight on the work and the people that make modern society what it is.
Posted on 4/24/25 at 1:22 pm to Powerman
I'd give the idea only about a 25% chance of passing into tax law.
Posted on 4/24/25 at 2:03 pm to LSURussian
They should compromise and tax it separately at the rate it would be if it was standalone pay, instead of lumping it in to bump up tax liability.
So let's say you make $25/hr. You work 2000 regular hours and 320 OT hours. You should be taxed on $50,000 and $12,000 income separately (as if you worked two different jobs) rather than taxed on $62,000. You just don't get the standard deduction or EITC for the OT portion.
Posted on 4/24/25 at 2:05 pm to AUFANATL
quote:
So let's say you make $25/hr. You work 2000 regular hours and 320 OT hours. You should be taxed on $50,000 and $12,000 income separately (as if you worked two different jobs) rather than taxed on $62,000.
If you work 2 separate jobs and have a combined income of 62K you'll be taxed the same as if you had one job making 62K
Why would you think it would be any different?
Posted on 4/24/25 at 2:06 pm to Powerman
quote:
Yes we have a standard 50 hour work week with the possibility of having to work Saturdays at some point with no extra income
Did your salary not already factor that in?
Posted on 4/24/25 at 2:07 pm to Powerman
quote:
I'm thinking it probably doesn't happen
I hope that it doesnt.
It would be a major blow to what trump is doing.
Posted on 4/24/25 at 2:08 pm to PaperTiger
quote:
Did your salary not already factor that in?
Yeah it's prorated on a 40 hour week though
When it's slow we only work the 40 hours and have the opportunity to work a hybrid role
When things are in full swing we're working 50 hours
Posted on 4/24/25 at 2:09 pm to Powerman
Alabama just implemented it recently for state income taxes.
Only applies to actual hourly workers, not salary, non exempt employees that can earn overtime pay
Only applies to actual hourly workers, not salary, non exempt employees that can earn overtime pay
Posted on 4/24/25 at 2:09 pm to Figgy
quote:
t it was pandering for votes a
I agree here and now its going to come back to haunt him.
Posted on 4/24/25 at 2:15 pm to jizzle6609
quote:
I agree here and now its going to come back to haunt him.
It could. The dems will certainly exploit it if it isn't law by the mid terms. They'd be foolish not to. Same with tips. It doesn't take much to swing some elections back to the blue column.
Posted on 4/24/25 at 2:21 pm to Powerman
quote:
If you work 2 separate jobs and have a combined income of 62K you'll be taxed the same as if you had one job making 62K
Yeah, I know that. I'm proposing that they treat OT as a single income for tax purposes (instead of a duality) so you would pay 10-15% on the OT amount instead of 20-25% or whatever the rates are. It's effectively a tax break for OT workers but one the budget overlords can live with.
Posted on 4/24/25 at 2:40 pm to AUFANATL
quote:
Yeah, I know that. I'm proposing that they treat OT as a single income for tax purposes (instead of a duality) so you would pay 10-15% on the OT amount instead of 20-25% or whatever the rates are. It's effectively a tax break for OT workers but one the budget overlords can live with.
It's not clear to me what you're actually proposing
Are you suggesting that the top marginal rate be capped on the 40 hour basis?
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