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Pro: I mean, it would be a pro for people who work said OT….so that would be nice. Especially considering many hourly workers are blue collar or public service.
Cons: While I’m sure we could figure it out, that seems like it will add a lot of complications to payroll.
I am confident this would turn into a white collar loop hole.
Pros:
* People keep more of the money they work for
* The government has less money to spend on foreign countries and policies that hurt the American people.
* People have a greater incentive to work longer hours, increasing the productivity of the overall economy.
Cons:
On the pro side, most of the people making overtime (as currently defined) are middle class or down. This would help a lot of blue collar and health care workers.
On the con side, this would probably amount to quite a bit of money. Plus, there’s nothing stopping companies from restructuring management salaries so that their managers all make tax-free OT.
Pro. People who work hard get a little extra cash.
Con. It is incentive for employers to pay a lower wage for 40 hours, then give two hours “overtime” each week paying triple time×100 (goofy example) for overtime and legally skirt taxes. Employees would like this “raise”
Pros, people get to keep more of money that they have earned.
Con: pro tax people will be mad they don’t get their hands on someone else labor.
All pros income taxes are theft
That sounds like an accounting nightmare. It also sounds like it screws people on salary that regularly work over 40 hours a week and don’t qualify for overtime even worse.
Pros: none, because other taxes would go up to compensate.
Cons: people would have less time for family, would work longer hours for the same class of living, quality would go down because people would make more mistakes when they overwork.
Wait? Is this not a thing? Alabama’s usually behind the times, and they passed a bill to stop taxing overtime.
I hadn’t heard this idea before. What are the pros and cons in your opinion?
Pros- more money
Cons- none
Pro – people would get more take home pay for any overtime hours that they worked.
Con – the government would take in less tax revenue.
Pros: You think you’d get more money, so you vote for the guy who’s proposing the plan.
Cons: Everybody who makes more than minimum wage is dropped to minimum wage, and offered untaxed overtime to make up for it. Sure, you work 12 hours a day now, but you pay less taxes, so you take home almost as much as you did before. Also, we’re cutting staff, because everybody’s working 12 hour shifts now. Except in Accounting, because those people have to figure out all the new tax tables and stuff.
Another line item in the tax returns
The no tax would probably work both for employees and employers.
There would be some funny monkey business and fuzzy math done by the bosses to have people work 42ish or more hours and end up paying them the same salary eventually.
Pro – economically it would increase output because more people would work OT. It would really be a win win for everyone..
Con – and only for the government they would lose the tax revenue.
And worst case scenario just don’t kick into higher tax bracket as they do would be nice..
Employers will abuse the fuck out of this lol
If you want to lower taxes for the poor/lower-class, just adjust tax rates to…do that. You don’t need to come up with some sort of convoluted scheme.