No tax on overtime

[TheRedComet]

The debt is an issue caused by both excessive tax cutting and the out of control spending. Libs may not have wanted to cut taxes but they sure had no issue blowing money like crazy. To be fair so did conservatives.

Conservatives never saw an overpriced defense sector item they didn’t want to fund and liberals never saw a welfare expansion they didn’t want to fund. On the spending side of the equation both ideologies are responsible.

But cons have a bad habit of cutting taxes without a corresponding cut in spending. That part of it is on them.

[TheRedComet]

Hopes and dreams. Hopes and dreams. MAGA. Some other buzzwords.

[TheRedComet]

I can say from experience then when I was a salaried store manager I didn’t get ■■■■ extra for working more than 45 hours a week. And my average week back then was 70 hours.

[Guvnah]

@tnt

The poster responded as if I claimed he said something. I was pointing out my response was not to him.

That doesn’t change your duplicity.

[Guilds]

@TheRedComet

The debt is an issue caused by both excessive tax cutting and the out of control spending. Libs may not have wanted to cut taxes but they sure had no issue blowing money like crazy. To be fair so did conservatives.

The debt is not the issue cons constantly say it is…as when they are in power, they have no problem spending…it is only when they are out of power is the debt mentioned.
Also, with the dollar being the global currency…it is very different. There are arguments whether the debt is a good or bad thing…or if it even truly matters.

[Safiel]

@Ben_Natuf

@Safiel

I see no good reason at all for this hamstringing of the Federal Government’s primary revenue stream.

taxing overtime is the governments primary revenue stream? who knew

Not what I said. I said the income tax is the government’s primary revenue stream.

[Guilds]

@TheRedComet

I can say from experience then when I was a salaried store manager I didn’t get ■■■■ extra for working more than 45 hours a week. And my average week back then was 70 hours.

I was a salaried manager in the Restaurant biz…working 50-60 hours a week. Servers made more per hour than me, Hence, I left that industry…and got out of management,

[WuWei]

I disagree. We give the naxhine far more than enough to run. It simply consumes.

Time to put it on a strict diet.

[WuWei]

And progs are different how?

[WuWei]

@Guilds

and got out of management,

Industry is blessed.

[Guilds]

@WuWei

Industry is blessed.

Keep your day job. Oh wait, this is your day job.

[Ben_Natuf]

no, thats not what you said

@Safiel

I see no good reason at all for this hamstringing of the Federal Government’s primary revenue stream.

That is.

no-one is talking about not taxing all income, just overtime. Your response to that is what you said just above.

[Gaius]

@TheRedComet

I can say from experience then when I was a salaried store manager I didn’t get ■■■■ extra for working more than 45 hours a week. And my average week back then was 70 hours.

Yes a, a lot of industries (mostly service sector) are oriented to avoid paying overtime. Either they hire a bunch of part-times (like Mcdonalds) or they hire everyone on salary (tech companies, retail stores etc.)

Manufacturing, construction etc. rely on it.
A policy like this would be absolutely great for hardworking blue collar American families.

[FloridaYankee]

@Impenitent

https://www.ibtimes.com/trump-promises-abolish-taxes-overtime-pay-if-elected-

[Gaius]

@Safiel

@Gaius

@Safiel

Stupid idea, just as stupid as the whole tip nonsense.

I think it’s a great idea (and I say that as a guy who disapproves of several Trump ideas.)

Across the US economy companies average about $400,000 in capital stock per worker. As a boss, do you want to use that capital stock 40 hours per week or 44? or 48? HINT: You make a LOT more money if you can use it 20% more.

We don’t use a great deal of overtime labor. And younger generations are even more likely to refuse overtime, something we do not mandate, unless in VERY extreme and rare circumstances.

There are industry and companies that do. We don’t.

In any event, there are better targets for tax cuts directly relating to capital as versus labor.

The 10-year bond is called the “workhorse” of the US economy so,
let’s use the 10-year bond as a benchmark (but feel to suggest another one.)

For 40 years the Fed has been lowering rates trying to make/keep investing in America profitable, trying to keep the economy afloat.

The Fed is out of ammo. The is no more water in the well.
It’s dried up. The Fed is all out of tricks.

This proposal is like a breath of fresh air.
Finally (although it is probably just a blind squirrel finding a nut) someone is advocating doing something that will actually make American workers and American investing truly productive in the deepest most core sense.

You are also allowed to giggle and predict “He’ll never actually do it,” but to oppose this is to say “I have idea what I am talking about .”

[conan]

@Safiel

I see no good reason at all for this hamstringing of the Federal Government’s primary revenue stream.

The tax code is not particularly burdensome to the lower classes and they can pay their so called “fair share” along with the rest of us. That includes on overtime and tips.

I see it’s better use of government resources to pay farmers not to plant to prop up overseas grain sells.

[WuWei]

Will not taxing overtime reduce payroll taxes?

[Smyrna]

@Guilds

Senate Republicans did an investigation to determine if Russia interfered in the 2016 election, and confirmed,it did. The Mueller report also came to the same conclusion occurred and many people were found guilty.

So again you believe all these “influencers” who are just trying to make a buck off the gullibles…vs reports with facts, backed by evidence.

You need to drop the drip…as it is mostly BS. But I understand you are unable to do that.

And I will keep laughing.

There, there…you feeeeeeeeeeeel better?

That isn’t what was fed and you swallowed. It was “Russian collusion” between Russia and Trump and you…were sheoplized.

[Gaius]

@WuWei

Will not taxing overtime reduce payroll taxes?

It would be great if he includes that in the bill.

[bigtwnvin]

Overtime is an incentive to work. I’m retired but like a lot of hourly workers I gobbled up overtime and worked on holidays. It helped us pay down our mortgage, cars and sock away some dough for kids college funds.
No taxes on tips or overtime puts money in the workers pocket for whatever ends they choose. What’s not discussed is that these overtime tax breaks are for federal withholding. States and local governments will be dipping their beaks into the workers OT for sure.
I’d like to hear about taxes on SS and retirement IRA RMDs.