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Trump Promises to End Taxation of Overtime Pay

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mourningdove~

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Trump promises to end taxation of overtime pay: 'Your overtime hours will be tax-free'​

Trump has also promised to end the taxation of Social Security benefits and tips for service workers​


Former President Trump promises to eliminate taxes on overtime pay as part of a series of proposed cuts he said would mean more disposable income for workers.

"That gives people more of an incentive to work. It gives the companies a lot," Trump told a crowd Thursday at a campaign rally in Tucson, Arizona.

"The people who work overtime are among the hardest-working citizens in our country. And for too long, no one in Washington has been looking out for them.
"Those are the people, they really work. They’re police officers, nurses, factory workers, construction workers, truck drivers and machine operators."

The pitch came as Trump seeks to turn Arizona, a state President Biden won by just a few thousand votes in 2020, red again.

"So, that's why we will be saying that if you're an overtime worker when you're passed 40 hours a week, think of that," he added. "Your overtime hours will be tax-free."

www.foxnews.com

Trump promises to end taxation of overtime pay: 'Your overtime hours will be tax-free'

Former President Trump promised Thursday to end the taxation of overtime pay as part of a series of measures to boost disposable income.
www.foxnews.com www.foxnews.com
 
Fantine

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Only hourly workers get overtime. Workers on salary don't.
Biden increased the threshold under which OT pay is required to.about $53K.
I think it was $19K under Trump.
Giving an income tax break to those who barely pay any income taxes is not largesse. Some might even qualify for the EITC.
 
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Maria Billingsley

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mourningdove~ said:

Trump promises to end taxation of overtime pay: 'Your overtime hours will be tax-free'​

Trump has also promised to end the taxation of Social Security benefits and tips for service workers​


Former President Trump promises to eliminate taxes on overtime pay as part of a series of proposed cuts he said would mean more disposable income for workers.

"That gives people more of an incentive to work. It gives the companies a lot," Trump told a crowd Thursday at a campaign rally in Tucson, Arizona.

"The people who work overtime are among the hardest-working citizens in our country. And for too long, no one in Washington has been looking out for them.
"Those are the people, they really work. They’re police officers, nurses, factory workers, construction workers, truck drivers and machine operators."

The pitch came as Trump seeks to turn Arizona, a state President Biden won by just a few thousand votes in 2020, red again.

"So, that's why we will be saying that if you're an overtime worker when you're passed 40 hours a week, think of that," he added. "Your overtime hours will be tax-free."

www.foxnews.com

Trump promises to end taxation of overtime pay: 'Your overtime hours will be tax-free'

Former President Trump promised Thursday to end the taxation of overtime pay as part of a series of measures to boost disposable income.
www.foxnews.com www.foxnews.com
Click to expand...
What a great way to bait and switch honest hard workers especially those in law enforcement, fire fighting , utility , manufacturing , logistics etc. This can and will not ever happen. Why? About half of American workers depend on overtime for a decent wage. To eliminate taxes on overtime wages would mean higher taxes on everything else! There would be no net gain. This loophole would have to be closed elsewhere by raising taxes on base and salaried workers, borrow more money or introduce new taxes. What a ridiculous notion and deception. Let us reason people!
 
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eleos1954

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Fantine said:
Only hourly workers get overtime. Workers on salary don't.
Biden increased the threshold under which OT pay is required to.about $53K.
I think it was $19K under Trump.
Giving an income tax break to those who barely pay any income taxes is not largesse. Some might even qualify for the EITC.
Click to expand...

A new rule that went into effect on July 1, 2024, makes most salaried workers who earn less than $844 per week eligible for overtime pay. On January 1, 2025, most salaried workers who earn less than $1,128 per week will be eligible

The new salary limits ... Starting July 1, 2024, people earning less than $43,888 per year, or $844 per week, would be eligible for overtime pay.

Effective on January 1, 2025, the salary threshold will be raised to $1,128 per week. This is the equivalent of $58,656 per year

Almost Three-quarters of People Work Overtime At least Once a Week.

Regardless more money in peoples pockets is always a good thing.
 
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So if you work 20 hours one week, and 60 the next, would you reduce taxes by 25%? Some way there has to be a workaround to capture more free taxes. its stupid though. Taxes are about redistribution. Better to raise overtime to 2x base pay, so there is work, life balance and employers are not managing from crisis to crisis. Those companies are horrible to work for anyway. If the government were honest the length of life has declined as retirement age is going up. What a shaft to those born 1960 and later.

ife expectancy at birth for women in the United States dropped 0.8 years from 79.9 years in 2020 to 79.1 in 2021, while life expectancy for men dropped one full year, from 74.2 years in 2020 to 73.2 in 2021. The report shows the disparity in life expectancy between men and women grew in 2021 from 5.7 years in 2020 to 5.9 years in 2021." Source Life Expectancy in the U.S. Dropped for the Second Year in a Row in 2021

Social security is racist too. Most minorities die earlier. Why no adjustment by race and gender?
 
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Maria Billingsley said:
To eliminate taxes on overtime wages would mean higher taxes on everything else!
Click to expand...
"And if the taxes on Social Security are eliminated, the deficit will increase by a $trillionbillionmillion and the country will go bankrupt!"

How about cutting spending?
 
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Maria Billingsley

Maria Billingsley

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QvQ said:
"And if the taxes on Social Security are eliminated, the deficit will increase by a $trillionbillionmillion and the country will go bankrupt!"

How about cutting spending?
Click to expand...
Or make pork barreling illegal.
 
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Tax cuts for the middle class? Dream on. The Dem's never saw a tax they didn't like and more besides.
The Republicans go along because the Dems will start claiming the Republicans are starving widows and orphans if the Republicans try to cut any amount of government revenue or spending.
Which is what I said before...try to abolish taxes on Social Security and the Dems immediately faint away, saying the Republicans are going to bankrupt the nation
We need to vote all the Dems out. Then primary any Republican who doesn't have anything better to do than attend impeachment hearings and only shows up to vote on bills none of them have ever read.
 
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JimR-OCDS

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Fantine said:
Only hourly workers get overtime. Workers on salary don't.
Biden increased the threshold under which OT pay is required to.about $53K.
I think it was $19K under Trump.
Giving an income tax break to those who barely pay any income taxes is not largesse. Some might even qualify for the EITC.
Click to expand...
It was George W. Bush who change the rules on salaries. I went from hourly pay to salary because of his bad
decision. I lost about $40,000 in overtime pay when I was put on salary.
 
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