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Started By
Message
re: Trump’s next tax policy should be on bonuses
Posted on 9/13/24 at 12:37 pm to Lsujacket66
Posted on 9/13/24 at 12:37 pm to Lsujacket66
My bonuses aren’t that much, but hey it’s a bonus of about 5k. And you get half of it. Still not bitching as I’m appreciative of what I get, but it would be nice to get the 5k since we’re being rewarded for our production.
0
Posted on 9/13/24 at 12:52 pm to Lsujacket66
quote:
100k taxed at 55%
Are you fricking crazy?
Why should I pay more on my bonuses than others?
Posted on 9/13/24 at 1:02 pm to Lsujacket66
quote:
and over 100k taxed at 55%
Absolutely not
Posted on 9/13/24 at 1:04 pm to Lsujacket66
Love it.
He will tear down the income tax one piece at a time!
Posted on 9/13/24 at 1:09 pm to Lsujacket66
Dumb question... Aren't bonuses taxed at a higher rate initially and then, dependent on your effective tax rate at the end of the year, basically just normal income? e.g. You paid 38% on bonus and end of year, total income with deductions put you at 20% total effective tax rate, so you get back that 18% paid on that bonus in a refund?
Posted on 9/13/24 at 1:42 pm to Lsujacket66
So if my employees agree to take a cut in pay and then work overtime they get free money?
Posted on 9/13/24 at 4:40 pm to AubieinNC2009
quote:
he should just say No income tax - move to a national sales tax. Then Kamala will copy it and we will be set
It would be hilarious to see her jump on that. There's no way in hell she could get that passed in the house, or the Senate.
And if they did... Every single one of us would join a mail order ministry, and become sales tax exempt
Posted on 9/13/24 at 4:45 pm to Lsut81
If paid separately, most employers will tax it at a flat 22% (under $1 million).
Otherwise, if a bonus is added to your regular paycheck, it's taxed as regular income.
Otherwise, if a bonus is added to your regular paycheck, it's taxed as regular income.
Posted on 9/13/24 at 4:51 pm to theCrusher
quote:
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.
I'm not trying to fight, but I need to point something out.
Let's take auto workers for example. Many of the local Ford plant employees make substantial hourly wage. This same plant, does ROUTINE layoffs, sometimes on a yearly basis.
So these folks that are making 30+ an hour, would then also be tax free.
There is always a problem to each solution.
I do absolutely agree that retirement fund taxing needs to meet the headsman tho!
Posted on 9/13/24 at 5:02 pm to Lsujacket66
quote:
taxed as normal income rates
No matter how you get money, it is normal income. So it all should be taxed at normally rates. I realize that's a bit hypocritical to long term capital gains rates, but capital gains rates at least can be argued as incentivizing stable investment in building the economy.
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