No taxes on OT!!!! To good to be true!

[foszoe]

Why should someone getting likely 1.5X their normal rate receive welfare?

so 1X its okay to receive welfare?

 

[Ingomike]

Why should someone getting likely 1.5X their normal rate receive welfare?

I don’t follow your logic here. How is the government taking less from someone welfare? To me welfare is when one is given something taken from another…

 

[Quiet Observer]

I just don't believe it, many people run for office and are elected that are not politicians.

Maybe the first time around. The second time around, it's a politician, especially with 4 years of campaigning whether declared or not).
With respect to the ducks: if it looks like a politician, acts like a politician, and talks like a politician, it is a politician.

In some cases, the quacking duck makes more sense than the politician. That refers to both sides.

 

[snorko]

I don’t follow your logic here. How is the government taking less from someone welfare? To me welfare is when one is given something taken from another…

I am broadly defining welfare as a monetary benefit to one or some. So yes, something like a child tax credit is also welfare. I get paid based on my production. If I choose to work 60 hours a week, which I have for the last two months, I make more money. But since i am not an hourly employee I would get no benefit. What is the difference?

This is also based on the premise that if the Gov gets less from one segment, they will take more from another. Tax is a liability or a debt owed. To me economically "forgiving" inc. taxes on OT pay is similar to forgiving student loan debt. Under current law, both are obligations, whether you agree with them or not.

BTW I am a single male with no dependents who owns a small business. Taxes and costs from government regs & mandates are huge sore spots.

 

[snorko]

I don't see it as welfare. I see it as you have already paid the requirement. The company bases all of the benefit cost on a 40 hour work week. Why shouldn't the citizen?

The tax requirement or liability is a percentage of your gross pay. So while you have paid the requirement for 40 hours of labor, under this proposal you are skating on the requirement for the balance of your gross pay.

As for benefits, I assume you are talking about health insurance, 401K, etc? If so, the cost of these does not change with additional hours worked, but the employer IS paying greater amounts of payroll taxes, FICA, etc. with increased payroll from OT.

 

[Ingomike]

I am broadly defining welfare as a monetary benefit to one or some. So yes, something like a child tax credit is also welfare. I get paid based on my production. If I choose to work 60 hours a week, which I have for the last two months, I make more money. But since i am not an hourly employee I would get no benefit. What is the difference?

This is also based on the premise that if the Gov gets less from one segment, they will take more from another. Tax is a liability or a debt owed. To me economically "forgiving" inc. taxes on OT pay is similar to forgiving student loan debt. Under current law, both are obligations, whether you agree with them or not.

BTW I am a single male with no dependents who owns a small business. Taxes and costs from government regs & mandates are huge sore spots.

I do not see not taking my money as receiving a “benefit”. It is not “forgiving” anything, it is not taking in the first place. Student loans are a personal debt, what the government takes from earnings is not a debt.

 

[snorko]

I do not see not taking my money as receiving a “benefit”. It is not “forgiving” anything, it is not taking in the first place. Student loans are a personal debt, what the government takes from earnings is not a debt.

I will concede that if the law is changed removing tax obligations from overtime pay, it is not a benefit by the strict letter of the law. But the law itself is then inequitable. To me the benefit is someone earning say $100,000 including overtime will pay less in taxes than someone making the same amount with a 40 hour work week.

As implied above (post #16?), if it is a benefit to reduce taxes on OT, why not for all? Why should folks who have the opportunity to vastly increase their pay for additional labor deserve this special carve out?

 

[patience0830]

I know this legislation is a pipe dream, but I work 70 hrs/week.
More than half of every check is OT.

Yup. Thinking he said everything over 40 hrs. 80 hrs week= 1/2 the taxes.

They'll never go for it.

 

[JettaKnight]

The more you complicate the tax code the easier it is to slip in tax hikes, induce tax fraud, and create division.

That's a classic Democrat play - pit people against each other. Usually it's class warfare, i. e. Blame wealthy Americans for not paying "their share".

 

[Ingomike]

Maybe this is a carrot to encentivise trades work over salary types of work…

 

[Creedmoor]

Why should someone getting likely 1.5X their normal rate receive welfare?

Why do people that earn little or no income receive welfare?

 

[Creedmoor]

If it happens will we see less on salary and more going to hourly pay?

LOL, if this happens even business owners will shift to hourly pay.

 

[oze]

The subtle odor of desperation is beginning to waft from Camp Trump.

Free IVF
No tax on tips
No tax on OT

Or maybe that's not desperation that I detect. Maybe it's the foul stench of lefty pandering smeared with donkey ****.

 

[NoAdmiration]

Why should someone getting likely 1.5X their normal rate receive welfare?

Keeping the money I earned is not welfare.

 

[NoAdmiration]

If it happens will we see less on salary and more going to hourly pay?

LOL, if this happens even business owners will shift to hourly pay.

Why is that bad?

 

[sapper83]

I am broadly defining welfare as a monetary benefit to one or some. So yes, something like a child tax credit is also welfare. I get paid based on my production. If I choose to work 60 hours a week, which I have for the last two months, I make more money. But since i am not an hourly employee I would get no benefit. What is the difference?

This is also based on the premise that if the Gov gets less from one segment, they will take more from another. Tax is a liability or a debt owed. To me economically "forgiving" inc. taxes on OT pay is similar to forgiving student loan debt. Under current law, both are obligations, whether you agree with them or not.

BTW I am a single male with no dependents who owns a small business. Taxes and costs from government regs & mandates are huge sore spots.

So your making your own definition up??? It isn't actually called welfare, the correct term is taniff. Welfare or taniff is something given by the government to someone for nothing in return at all. Im sure taxes are a sore spot for all here. I pay more in feds alone then most people make in a year.

 

[Creedmoor]

Why is that bad?

Did I say it was bad?

 

[Creedmoor]

So your making your own definition up??? It isn't actually called welfare, the correct term is taniff. Welfare or taniff is something given by the government to someone for nothing in return at all. Im sure taxes are a sore spot for all here. I pay more in feds alone then most people make in a year.

Thats funny stuff...

 

[Creedmoor]

The subtle odor of desperation is beginning to waft from Camp Trump.

Free IVF
No tax on tips
No tax on OT

Or maybe that's not desperation that I detect. Maybe it's the foul stench of lefty pandering smeared with donkey ****.

Yea, I to hated that $2.05 a gallon gas, those 2-3% mortgages, making good money on my investments.....

 

[sapper83]

No taxes on OT has me asking a few questions.

So i max out my roth 401k and a roth IRA. The percentage comes out of my over all income not just 40 hour base? Now how would I contribute? Companies would have to do more book keeping.

I feel property tax, sales tax, registration fees, even state taxes will sky rocket to make up the difference. Will this cause inflation? The middle class pays most the taxes.

Also does the standard and itemization now go off base wages???