“I Hate Overtime”

[SmashMouth]

On 10/5/2024 at 10:11 AM, thetragichippy said:

He made the comment as a business man he hated overtime. He never said or implied he wanted to do away with it. He has said overtime should not be taxed. That will benefit the refinery workers in our area big time…..as well as nurses. Not only would you not pay taxes and see the benefit immediately on your paycheck, my guess that at the end of the year, you would subtract all the overtime from your total wages, thus lowering your taxable imcome.

While I’m not totally against it, it’s not that appealing to me. Here are a few reasons:

1. I will not receive any immediate benefit, as I am a salaried employee. Lower the overall FWT on all taxable payroll, and let everyone reap the benefit of the tax break.

2. I would assume that it would just be only premium portion of overtime hours worked. It would still be a savings of FWT, but not nearly what people are thinking.

3. Anytime tax revenue is forfeited, it has to be made up somewhere else. I wonder where the lost revenue will come from? He may have a good answer for that question, but for now, it is an unknown.

[thetragichippy]

20 minutes ago, SmashMouth said:

I wonder where the lost revenue will come from?

No idea honestly - this is a political promise that may or may not happen. I'm salary as well, but I do rely on my bonus.....now if he would make Bonuses tax free.......

[baddog]

13 minutes ago, thetragichippy said:

No idea honestly - this is a political promise that may or may not happen. I'm salary as well, but I do rely on my bonus.....now if he would make Bonuses tax free.......

Hippy, I overlooked your post on dealing with the OT tax at W2 time before I went off on my math tangent. It’s hard to read every post.

[thetragichippy]

3 hours ago, baddog said:

Hippy, I overlooked your post on dealing with the OT tax at W2 time before I went off on my math tangent. It’s hard to read every post.

No worries my friend