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Started By
Message
re: Trump just announced no tax on overtime wages.
Posted on 9/12/24 at 5:52 pm to Indefatigable
Posted on 9/12/24 at 5:52 pm to Indefatigable
You’re broken dude. You should go live in china
0
Posted on 9/12/24 at 5:53 pm to Athis
quote:
I remember I used to work OT in huge chunks and it wasn't worth it because at one point the IRS was getting most of it...
I'm working off-duty security as we speak. The IRS is going to take 24%, Social Security is going to take another 13% since I'm considered a private contractor. The interesting part of that is that when I retire I'll get hit with the Government Pension Offset, so I won't actually get it back. The government has decided that, since I'm getting a pension, others need it more than I do. Then, when I go to spend the 63% that our benevolent overlords decided that I could keep, I get to pay the state and city 8.25%.
This post was edited on 9/12/24 at 6:52 pm
Posted on 9/12/24 at 5:55 pm to Diamondawg
Who cares.
Got more money in my checking account.
Got more money in my checking account.
Posted on 9/12/24 at 5:57 pm to Tantal
quote:
I'm working off-duty security as well speak
I don't mean this to come off as flippant but if you are working consistent overtime why don't you put 50%, or some portion, of your estimated extra income into a 401k or some other retirement plan.
Posted on 9/12/24 at 5:59 pm to nateslu1
I don’t say this lightly, but this is a game changer for me. This is something that directly affects my family & I in a tangible way.
Posted on 9/12/24 at 6:02 pm to nateslu1
He should push a fair tax. Let’s fire the IRS.
Posted on 9/12/24 at 6:04 pm to ZZTIGERS
A little more pep in your step when overtime rolls around.
Posted on 9/12/24 at 6:05 pm to The Boat
quote:
Well Trump has floated getting rid of the income tax in favor of a consumption tax
That’s fine. But if we’re going to have income tax at all, it should be across the board. No carveouts.
Posted on 9/12/24 at 6:09 pm to FATBOY TIGER
quote:
Straw woman
You’re cussing and calling me names but you’re totally unbothered right?
Posted on 9/12/24 at 6:25 pm to SelaTiger
quote:
Kamala will try to one up him.
Yep, I predict something like this from her campaign tomorrow:
"We are going to consider anything over 30 hours in a work week as overtime pay, and overtime will be double time and tax free."
Of course, businesses will either shorten work weeks to 30 hours and demand the same results as 40 hours, or make every position a salary position.
Posted on 9/12/24 at 6:33 pm to tjv305
quote:
He should push a fair tax. Let’s fire the IRS.
this
Posted on 9/12/24 at 6:33 pm to nateslu1
As someone that works a lot of overtime, I fully support this
Posted on 9/12/24 at 6:37 pm to Mushroom1968
While wearing a MAGA Hat
Posted on 9/12/24 at 6:58 pm to MFn GIMP
quote:I can put up to $8,000/year into a Roth, but that doesn't avoid the tax. It just defers it until I retire. The SS tax and sales tax are unavoidable. I'm just tired of being a tax mule for our Parliament of Whores in D.C. to throw my money around to buy votes and power.
I don't mean this to come off as flippant but if you are working consistent overtime why don't you put 50%, or some portion, of your estimated extra income into a 401k or some other retirement plan.
Posted on 9/12/24 at 6:59 pm to Reece Bobby
Taxes do not fund our government.
They only fund the illusion of our monetary system.
The govt prints as much money as it wants and takes more from you by the inflation thus causes.
Tax income doesn’t even cover the interest on our debt.
The federal reserve will be ended soon.
We will slash government bigly and fund what remains via tariffs.
Receipts:
U.S. Passes $1 Trillion Quarterly Interest On The Public Debt
U.S. Federal Government Tax Revenue by Year
1 x 4 = 4.
4 trillion in interest.
2.6 trillion in tax income.
Payroll taxes don’t count as that is for Medicare / social security.
https://www.usdebtclock.org/
End the endless.
NCSWIC
They only fund the illusion of our monetary system.
The govt prints as much money as it wants and takes more from you by the inflation thus causes.
Tax income doesn’t even cover the interest on our debt.
The federal reserve will be ended soon.
We will slash government bigly and fund what remains via tariffs.
Receipts:
U.S. Passes $1 Trillion Quarterly Interest On The Public Debt
U.S. Federal Government Tax Revenue by Year
quote:
Per the White House's projections, income taxes are slated to contribute $2.6 trillion
1 x 4 = 4.
4 trillion in interest.
2.6 trillion in tax income.
Payroll taxes don’t count as that is for Medicare / social security.
https://www.usdebtclock.org/
End the endless.
NCSWIC
This post was edited on 9/12/24 at 9:34 pm
Posted on 9/12/24 at 7:02 pm to nateslu1
THAT demonstrates who is for the average American. We don't want fricking handouts.
Posted on 9/12/24 at 7:16 pm to themunch
quote:
When I was working overtime I did not like that most of it went up in taxes.
You are like the 4th person to say something like this in this thread. OT wages are not taxed more than regular wages. Now if you make enough overtime (or bonuses or commissions or regular raises) to move into a higher tax bracket then the income over that tax bracket line will be taxed at the higher bracket rate but that has nothing to do with OT per se. Getting paid time and half is always going to be a win and no “most of it” was not being taken away in taxes.
Posted on 9/12/24 at 7:23 pm to nateslu1
They should do away with exempt employee classification. Everyone deserves to be paid for the hours they work.
Posted on 9/18/24 at 1:42 pm to nateslu1
Teamsters polled union members today.
The results were 58% Trump and Harris 31%.
The results were 58% Trump and Harris 31%.
Posted on 9/18/24 at 2:00 pm to nateslu1
How about no tax on income at all? National sales tax is the way to go, or drop the income tax down to 10% and stop blowing our money.
I really hate all this pitting one group of workers against others for no taxes. The entire working population is too overtaxed and needs a break.
I really hate all this pitting one group of workers against others for no taxes. The entire working population is too overtaxed and needs a break.
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