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Started By
Message
re: No tax on overtime
Posted on 11/26/24 at 12:26 pm to Gimme back that fish
Posted on 11/26/24 at 12:26 pm to Gimme back that fish
I work 20 hours of overtime ever week.
My family needs this and if I don't get it I'm going to be very upset
My family needs this and if I don't get it I'm going to be very upset
1
Posted on 11/26/24 at 12:27 pm to BenDover
quote:
It's not really the employee's option, it's the employer's.
100% correct. I am flabbergasted by some of these responses
Posted on 11/26/24 at 12:28 pm to Breesus
You'd have to change the tax forms.
Posted on 11/26/24 at 12:31 pm to VoxDawg
quote:
Been salaried for a dozen years. Makes no difference to me, but I hope for the hourly baws that it happens.
Same here. I like the premise of removing layers of taxation and if this is the first step to dismantling the overreaching taxation in the country, I am on board with it.
Curious to see how it's executed though.
Posted on 11/26/24 at 12:31 pm to Breesus
This is exactly why I knew it was a grifting lie from the beginning. This is the same for no tax on tips. My boss might want to tip me 90% of my salary. Let's get real. That was among those promises just to get elected.
Posted on 11/26/24 at 12:32 pm to Gimme back that fish
The RINOs better get their asses on board
Posted on 11/26/24 at 12:33 pm to Gimme back that fish
Anytime government takes less of our money the better
Posted on 11/26/24 at 12:34 pm to Gimme back that fish
quote:
No tax on overtime
I’m all for lower taxes but this is a nonsensical carve out of wages ripe for manipulation and abuse Just lower the tax rates for wages across the board. The deductions and exemptions are abused and this one would be too.
Posted on 11/26/24 at 12:35 pm to Gimme back that fish
As an employer that pays overtime I hope like hell it happens for my guys. It would be nice little boost for them. Every dollar counts. yes, I konw I could pay more but we are already 25-30% higher than pre inflation bust to try to keep them whole.
Posted on 11/26/24 at 12:35 pm to Gimme back that fish
My low IQ salaried bosses would lose their mind.
Posted on 11/26/24 at 12:36 pm to tigeraddict
quote:
Anytime government takes less of our money the better
If they haven't cut spending, they'll just take it from somewhere else. Shell game.
I'm not a fan of this proposal, it just adds complexity to an overly complex tax code. It's window dressing. Just cut spending, and cut out taxes in a way that simplifies the tax code.
Posted on 11/26/24 at 12:45 pm to WhiskeyThrottle
quote:
I like the premise of removing layers of taxation and if this is the first step to dismantling the overreaching taxation in the country, I am on board with it.
I always thought that the best way to shock the system and wake Americans up to the fact that the income tax is one of the most insidious forms of theft going would be to have a payroll tax holiday for 2-4 weeks.
The first time the withholding kicked back in people would be rioting in the streets
Posted on 11/26/24 at 12:49 pm to MidWestGuy
quote:
If they haven't cut spending, they'll just take it from somewhere else. Shell game. I'm not a fan of this proposal, it just adds complexity to an overly complex tax code. It's window dressing. Just cut spending, and cut out taxes in a way that simplifies the tax code.
You are right. We do not have a revenue problem. We have a spending problem. You could raise taxes today to balance the budget and you would have to raise them again next year because spending is growing faster the GDP.
I look at it this way. They are going to spend more then they take in until a balanced budget amendment. So the less they take in the less control they have.
Taxation is a way the government can pick winners and losers.
Posted on 11/26/24 at 12:52 pm to Gimme back that fish
quote:
Any recent talk of this?
Following as well. I'm currently entertaining accepting a promotion to a different department and significant pay raise, but it's salary. If we get overtime taxes removed, I'm staying put because my net income will increase to roughly the same if I remain hourly. If it doesn't get passed, I'll move on up.
Thankfully three positions are coming open due to retirements in the next 14 months, and I'm in high demand, so I can play the waiting game for a time.
I'd still like to know now, but after 25 years I don't mind waiting a little longer
Posted on 11/26/24 at 12:54 pm to Gimme back that fish
This would be big for cops. A lot of cities are understaffed. Much of it is due to working for administrations that are left wing Dems. The cops that remain pick up the slack by working overtime. $20K a year just in overtime work is not unusual.
Posted on 11/26/24 at 1:19 pm to Gimme back that fish
I do not expect it to happen, and as others in this thread have suggested it was merely campaign rhetoric. Would love to be proven wrong, but just my gut feeling.
They would have to rework the tax laws to put this in effect, and at the same time they would most likely need to define overtime. Not all employers recognize OT has 40 hours in a defined work week. Some start OT after 8 hours, and double pay after 12 hours. I do not know if this is a particular State rule, or company specified. But how would they handle this if a State has different OT rules than the fed government?
They would have to rework the tax laws to put this in effect, and at the same time they would most likely need to define overtime. Not all employers recognize OT has 40 hours in a defined work week. Some start OT after 8 hours, and double pay after 12 hours. I do not know if this is a particular State rule, or company specified. But how would they handle this if a State has different OT rules than the fed government?
Posted on 11/26/24 at 1:22 pm to Gimme back that fish
I'm ready for it to hit I regularly clock 20+ Hours O.T a week.
Posted on 11/26/24 at 1:22 pm to John Barron
Post less.
Posted on 11/26/24 at 1:37 pm to monsterballads
quote:
some might
Wouldn't that be up to the employer?
Posted on 11/26/24 at 2:02 pm to Gimme back that fish
I’d be OT ballin fasho if this happens
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