Trump ending overtime pay

#26
#26
Just really bad tax policy like the no tax on tip idea. Tax code needs fewer preferences, not more.

Lower taxes for everyone, not select groups. Not on someone who works 60 hours at 1 job vs not lowering for someone who works 30 at 2. Not lower the carhop's taxes at Sonic's taxes vs not lowering the kid outside taking your order in 100 degree heat at Chick Fil A....
 
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#27
#27
MOOOOONEY said:
I’m salaried so would have no affect on me, but I’m happy anytime someone gets to keep more of their money.

It would be nice to end taxes on bonuses.
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Throw in removing taxes on gambling/lottery winnings. Of course the looney left wanted to tax money you didn’t even have but thought it was possible you might.
 
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#28
#28
BigOrangeMojo said:
Just really bad tax policy like the no tax on tip idea. Tax code needs fewer preferences, not more.

Lower taxes for everyone, not select groups. Not on someone who works 60 hours at 1 job vs not lowering for someone who works 30 at 2. Not lower the carhop's taxes at Sonic's taxes vs not lowering the kid outside taking your order in 100 degree heat at Chick Fil A....
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Then remove all the deductions and credits. Having a box for taxable income and non taxable income isn’t going to turn the tax code into a bigger mess than it already is. The part time job references are moot.
 
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#29
#29
MOOOOONEY said:
Has nothing to do with government waste.

It’s puts more money into the pockets of working Americans.

In fact it should help the DOGE department, less money for the department to worry about the government wasting.
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You think this has been thought through enough?

Won't happen
 
#30
#30
SpaceCoastVol said:
I was a salaried employee when I was an officer in the Navy. I never worked as many hours in my life. As an hourly employee for the last 33 years, I would NEVER.....EVER... want to work for salary. EVER
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Did salary for a while, working the same hours as hourly employees making less even though I was in management. Thankfully that **** ended a few years ago and I would never go back to hourly unless it is significantly more money (50%) more.
 
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#31
#31
C-south said:
Then remove all the deductions and credits. Having a box for taxable income and non taxable income isn’t going to turn the tax code into a bigger mess than it already is. The part time job references are moot.
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A big chunk of the people who work 40+ hours in a week (hourly job) work more than 1 job. This proposal really wouldnt help them. They are the ones who likely need the help more than anyone since they arent getting 40+ from primary employer.

Ive been really consistent over the years about eliminating preferences, closing loopholes, and lowering/flattening the brackets for everyone. The SALT deduction is one that should go, just like mortgage interest, etc. Fairer to tax everyone's income a little lower than giving a NYC resident with a mortgage a tax break that a TN resident who owns their home outright doesnt get....
 
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#32
#32
BigOrangeMojo said:
Just really bad tax policy like the no tax on tip idea. Tax code needs fewer preferences, not more.

Lower taxes for everyone, not select groups. Not on someone who works 60 hours at 1 job vs not lowering for someone who works 30 at 2. Not lower the carhop's taxes at Sonic's taxes vs not lowering the kid outside taking your order in 100 degree heat at Chick Fil A....
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We have to start somewhere.

I’m not gonna hate on someone who gets to keep more of their money.

I’m all for lowering taxes for everyone.

No taxes on tips.
No taxes for income over 40 even if you work more than 1 job.
No taxes on anyone under 18.

Want to talk about bad tax policy. I worked a few tax seasons to earn extra money at Liberty tax about 10 or so years ago. We had people who didn’t work all year and didn’t pay a dime into the system claim self employed and knew the right amount of income to claim to receive a tax credit and receive thousands of dollars. The whole tax system is broken.
 
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#34
#34
BigOrangeMojo said:
A big chunk of the people who work 40+ hours in a week (hourly job) work more than 1 job. This proposal really wouldnt help them. They are the ones who likely need the help more than anyone since they arent getting 40+ from primary employer.

Ive been really consistent over the years about eliminating preferences, closing loopholes, and lowering/flattening the brackets for everyone. The SALT deduction is one that should go, just like mortgage interest, etc. Fairer to tax everyone's income a little lower than giving a NYC resident with a mortgage a tax break that a TN resident who owns their home outright doesnt get....
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Why must it help everyone? I agree with the other stuff but if people choose to work part time jobs that’s on them.
 
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#36
#36
C-south said:
Why must it help everyone? I agree with the other stuff but if people choose to work part time jobs that’s on them.
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If CSouth worked 40 hours at his main job and 20 hours at another company, he should not pay more in taxes as his identical twin CNorth who makes the same exact money working 60 hours at one job....

Same is true. CNorth shouldnt get a bigger SALT deduction because he lived in NY vs living in TN.
 
#38
#38
BigOrangeMojo said:
If CSouth worked 40 hours at his main job and 20 hours at another company, he should not pay more in taxes as his identical twin CNorth who makes the same exact money working 60 hours at one job....

Same is true. CNorth shouldnt get a bigger SALT deduction because he lived in NY vs living in TN.
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You’re just making up a scenario that doesn’t apply. If you work overtime at one job there’s a not too extreme threshold where you’re just working to pay taxes. Like I already said, everything you’re throwing out is moot.
 
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#39
#39
C-south said:
You’re just making up a scenario that doesn’t apply. If you work overtime at one job there’s a not too extreme threshold where you’re just working to pay taxes. Like I already said, everything you’re throwing out is moot.
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Im throwing out a scenario that literally impacts tens of millions of people each year. Many people cant get OT from main employer so they get a second job to make ends meet. They work more than 40 hours combined. If you work 40 at one job and 15 at another, you wont get a benefit....

You wanna get money to middle and working class? Cut the 12% rate to 10%.
 
#40
#40
hog88 said:
The devil will be in the details, what OT pay qualifies?

It’d be much easier and better to lower all income taxes and be even yuuggley betterer to completely eliminate income taxes altogether.
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Cut the 12% bracket to 10% and expand the bracket.

Cut the 22% bracket to 15% and expand the bracket

Eluminate SALT and mortgage interest deduction.

That is fair and equitable tax relief to 90% of the population.
 
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#41
#41
C-south said:
You’re just making up a scenario that doesn’t apply. If you work overtime at one job there’s a not too extreme threshold where you’re just working to pay taxes. Like I already said, everything you’re throwing out is moot.
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Most OT in this country are from mass producing, repetitive environments. Most of the OT in these large corp environments is with direct labor and the overhead costs associated with it.
 
#44
#44
BigOrangeMojo said:
Cut the 12% bracket to 10% and expand the bracket.

Cut the 22% bracket to 15% and expand the bracket

Eluminate SALT and mortgage interest deduction.

That is fair and equitable tax relief to 90% of the population.
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I'm not in favor of eliminating SALT at all. Why should I subsidize Californias' high taxes?
 
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#46
#46
MOOOOONEY said:
It looks trump wants to end overtime pay.

He is proposing no taxes on overtime.

I have watched some TikTok videos and read some online comments that if this is enacted that it will force companies to stop overtime for employees.

I had some hopes that Trump would enact some policies to help the working and middle class but ending taxes on OT pay will cripple these classes.
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VOLLeeann said:
taxfoundation.org

Trump’s Proposed Overtime Tax Exemption Would Distort Work Decisions

Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.
taxfoundation.org taxfoundation.org
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Good for people who want to get more overtime hours and get them tax-free. Bad for people who don't want more overtime.

Can we just get rid of the concept of the 40 hr work week?
 
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#49
#49
n_huffhines said:
Good for people who want to get more overtime hours and get them tax-free. Bad for people who don't want more overtime.

Can we just get rid of the concept of the 40 hr work week?
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What would replace the 40 hour work week?

I am scheduled for 47.5 most of the time I work more.
 
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