No overtime taxes.

[progressive hunter]

This is essentially a payoff to vote for democrats.

repubes dont get pass on this,, they are knee deep in it

 

[Concerned American]

Donald Trump wants to help Americans who need the most help. Simple as that. No taxes on tips or overtime. We'll make up for the lost revenue easily with DOGE cutting Federal waste, fraud and abuse.

Do away with income tax in its entirety. It is discriminatory to say one type of income should not be taxed but another should be taxed. There is no difference. It is all income.

 

[Concerned American]

Overtime pay is taxed at the same rate as regular pay.

Unless it puts your annualized adjusted gross income into a higher tax bracket.

 

[MarathonMike]

Do away with income tax in its entirety. It is discriminatory to say one type of income should not be taxed but another should be taxed. There is no difference. It is all income.

There was no income tax until Constitutional Amendment 16 was passed in 1913. I agree with you in principal but I think it's decades too late for that.

 

[WorldWatcher]

Overtime pay is taxed at the same rate as regular pay.

Unless it puts your annualized adjusted gross income into a higher tax bracket.

No, in that case, the overtime pay and the regular pay that fall above the threshold are both taxed at the new bracket rate.

If you make $70,000 a year of which $60,000 is regular wages and $10,000 is overtime. The first $47,150 are taxed at 12%, above that the remainder (regular and overtime) result in a 22% bracket on the remaining $22,850.

It would take a very odd employment situation where EXACTLY $47,150 were earned as straight time and ONLY overtime exceeded that threshold.

(Ignoring itemized and standardized deductions just for simplicity.)

WW

 

[Crepitus]

Years ago, I thought to myself that taxing overtime pay at a higher rate was unfair to average workers.

Overtime is taxed at the same rate are regular time.

OP is either wrong or fake.

 

[ReinyDays]

No, in that case, the overtime pay and the regular pay that fall above the threshold are both taxed at the new bracket rate.

If you make $70,000 a year of which $60,000 is regular wages and $10,000 is overtime. The first $47,150 are taxed at 12%, above that the remainder (regular and overtime) result in a 22% bracket on the remaining $22,850.

It would take a very odd employment situation where EXACTLY $47,150 were earned as straight time and ONLY overtime exceeded that threshold.

(Ignoring itemized and standardized deductions just for simplicity.)

WW

... don't forget to add 7.5% SS taxes for earned income below $137,700 ...

 

[ReinyDays]

OP is either wrong or fake.

I think he's confused about what's being withheld from his paycheck and his wife won't tell him ... it's not the government demanding a 75% surtax on overtime pay ... [wink wink nudge nudge] ...

 

[WorldWatcher]

... don't forget to add 7.5% SS taxes for earned income below $137,700 ...

We're talking income tax, not FICA taxes. FICA is also not dependent on straigh time vs. overtime.

There are no provisions where overtime is taxed at a different rate than straight time.

WW

 

[WorldWatcher]

My wife does my taxes.

So does mine.

But damn it she make me to a total review of everything before we sign and send it in.

I've been trying to break her from that requirement.

It's never worked though.

WW

 

[BlackSand]

.

Overtime is already compensated with increased pay per hour.
Salary workers don't get overtime no matter how many hours they work.

Hourly workers can pay taxes on all their income just the same as salary workers.

.​

 

[WorldWatcher]

Overtime is already compensated with increased pay per hour.
Salary workers don't get overtime no matter how many hours they work.​

I was salaried before and got overtime.

Under the FLSA (Fair Labor and Standards Act) employers are not required to pay overtime to bonafide salaried employees. That doesn't mean they can't.

(Now I'll give you it's really rare, but I worked for an empoyer in the late 90's early 00's that paid overtime to salaried EE's when we had to work weekends in addition to the regular work week. I doubt I'd see that today but it is possible depending on the employer.)

WW

 

[Concerned American]

There was no income tax until Constitutional Amendment 16 was passed in 1913. I agree with you in principal but I think it's decades too late for that.

In that case I don't see any relief. There is no distinction that would make one type of income exempt and another not exempt under the constitution.

 

[Concerned American]

No, in that case, the overtime pay and the regular pay that fall above the threshold are both taxed at the new bracket rate.

If you make $70,000 a year of which $60,000 is regular wages and $10,000 is overtime. The first $47,150 are taxed at 12%, above that the remainder (regular and overtime) result in a 22% bracket on the remaining $22,850.

It would take a very odd employment situation where EXACTLY $47,150 were earned as straight time and ONLY overtime exceeded that threshold.

(Ignoring itemized and standardized deductions just for simplicity.)

WW

I agree with you, but it is semantics. It is the OT that would put the AGI over the higher tax bracket.

 

[egp320i]

50% with no taxes? if you are retired maybe, they don't tax SS in most states or federal but they can tax pensions and annuities

 

[initforme]

Overtime wages should be increased. Now is the time to replace 1.5 x yo 2 and 2.5x per hour.

 

[Concerned American]

Overtime wages should be increased. Now is the time to replace 1.5 x yo 2 and 2.5x per hour.

STFU, Let's just make it 100000000000 X and we'll take it out of your bank account.

 

[initforme]

STFU, Let's just make it 100000000000 X and we'll take it out of your bank account.

Wow not liking raising overtime wages? Why?

 

[Raynine]

The whole point to this is that if the money is in my pocket and your pocket it is not in the government's pocket. If you reduce the money the government gets it is less they can steal. Capiche?

 

[Concerned American]

Wow not liking raising overtime wages? Why?

Good question, WHY? The last foray you morons made with raising the minimum wage unleashed a four year and counting round of inflation. There has been no change in anyone's standard of living except those on fixed incomes and theirs went down. Flooding the economy with money does nothing but create inflation. Anyone with more than two active brain cells knows this. But at 95, I guess that lets you out along with the demented fool that was just booted out of the WH.