No income tax on some tips and overtime pay...

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rfenst
Herf-A-Holic Topic Starter

a year ago

Total Bull$hit. (See what I did there?)
Everyone works hard to earn money.
Aside from the truly poorest of the poor, everyone should pay tax on what they earn.
Now, employees and employers will have to spend less on labor- at the expense of the U.S. government losing revenue.
Please explain if you think I am wrong.

Edited by user a year ago | Reason: Not specified

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RayR
Herf-A-Holic

a year ago

TAXES ARE THEFT

rfenst
Herf-A-Holic Topic Starter

a year ago

TAXES ARE THEFT

RayR wrote:

Got anything relevant or useful to contribute?

Cheno
Herf-A-Holic

a year ago

The issue is you have been taught that you need to pay these on everything and then more. You slowly became ok with it and are use to it. Their are people that are just sick of it and willing to stand up for people with that mentality. You could always pay more in taxes if you want. Contact the IRS and tell them you want to pay more. You won't because it's stupid to do that. More money for people is a good thing. It's not that they are having to spend less. They have to spend more wise. Why don't you own a Lamborghini? Because you are smart enough to know you shouldn't because you don't want to over spend. Can I buy one? Sure can, will I over spend myself and put myself in debt? Yup. Is it smart, nope. Man if only there was someone that could figure this out that's a politician....

rfenst
Herf-A-Holic Topic Starter

a year ago

Cheno wrote:

I see it much differently. Whether or not income taxes are legitimate, we still must pay them to live in the U.S. That is a fact.

We cannot (and should not IMO) change income tax, but should endeavor to minimize it.

Why should any other workers' tax burden be zero when yours isn't?

It's just another give-away that ends up increasing debt.

Edited by user a year ago | Reason: Not specified

Cheno
Herf-A-Holic

a year ago

Who said anything about it being the same? It's based on what you make as it should, how ever it should only be on base pay. Not bonuses or overtime, tips, or other incentives to do more than the normal. It comes a point to where enough is enough. Boston tea party happened over a 3% tax, how much has taxes increased? When is enough enough. With the mentally you are using you are an animal born into a zoo that doesn't know anything else. But if you find out about you would want that freedom. That's what people want, they want to break free from being slaves to our government. We brain was our children to be workers, look at the hours we spend in school and what times. Look at other countries. We are made to work, we don't have great vacation time like other countries, we are taught from childhood this is normal. It's time for change, will it change in time for us to enjoy it sadly no. But maybe our children or grandchildren hopefully. Why wouldn't we want to give them a better quality of life and more time with family even.

Gene363
Herf-A-Holic

a year ago

MY POV, tips ae a gift to the individual, the tax man can FO.

This why I bring cash for tips, CC receipts are called evidence. :-"

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8trackdisco
Herf-A-Holic

a year ago

rfenst wrote:

It is a real pickle for me. I loathe paying taxes. The sub-genre that bothers me the most is related to the poor (which makes me sound like a real ashehole).

How can people not pay any taxes and still get a refund? Nobody has explained that retionale to me in a meaningful way.

I'm starting to wonder if the National Debt matters- does it really matter?

We've been threatenting the futures of our children and grandchildren going into our third decade. Each party simply blows by the limit. Usually breathlessly at the last moment. Like a crackhead- on more hit and we'll straighten it out. Bull****e.

The highest tax rate in American history was the early 1960s. Top rate being 95%. What do the richest pay now? 39.5%.

It goes to a post Gene made yesterday about congress being eternally corrupt.

I'd love to see a real plan on how we get out of this.

Edited by user a year ago | Reason: Not specified

DrafterX
Herf-A-Holic

a year ago

I've never worked for tips but I've heard they tax tips on a percentage of the sale... so if someone doesn't leave a tip the worker has to pay on a presumed tip anyway... 😟

Gene363
Herf-A-Holic

a year ago

#10

Next time you have a server taking your order tell them to their face, you don't think they should get a tax break for tips.

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Cheno
Herf-A-Holic

a year ago

#11

I've never worked for tips but I've heard they tax tips on a percentage of the sale... so if someone doesn't leave a tip the worker has to pay on a presumed tip anyway... 😟

DrafterX wrote:

Which should be illegal in itself.

8trackdisco
Herf-A-Holic

a year ago

#12

Can imagine corporate VPs getting a serious bump in compensation.

The half dozen VPs I’ve worked indirectly for, only one was in the office more than 32-35 hours a week.

And it wasn’t like they were working. They would funnel work down to the Senior Directors, to Directors, to Senior Leaders, then to us.

The law could be written that pays VPs OT for anything over 20 hours- the amount of real work they do.

danmdevries
Herf-A-Holic

a year ago

#13

I hear this from my coworkers all the time ever since the idea was put out there. "no more overtime taxes" and "I don't work overtime because it all goes to taxes" etc.

There is no "overtime tax" the higher percentage of withholding is due to the way that withholding is calculated by payroll. If I make $1k per week the withholding is based on earning 52k/yr. If I work OT and make $2k/week then the taxes are withheld as if I were making $100k/yr. But at the end of the year if I made 60k total, I pay tax on 60k. But so many people believe that you pay more tax on overtime. Then there's the other idiots who have passed on raises because "i'll end up in a higher tax bracket if I make more"

If this is truly zero income tax on overtime worked, who's tracking your hours worked? Is it on over 40/week or 80/2week? If I make triple time because of company policy on overtime and incentives, is it zero tax on my triple time? Or only on the 1.5x portion? What if my company lets me work 80 hours one week and zero the next? I only pay tax on 26x40 hour weeks and the other 1040 hours is 100% tax free? What if the company pays overtime on anything over scheduled hours. Say I'm obligated to work 20 but if I work 40 I get paid 50. No tax on anything over 20?

Or is it playing on widespread financial illiteracy and saying no withholdings on overtime? There be nice big fat OT paychecks. But say in my case where about 20% of my annual income is from overtime, if there was no withholding on 20% of my income and I didn't adjust my W4 accordingly I'm gonna have a hefty tax bill in April. I claim 8 dependents on my W4 to reduce withholding because of the higher withholding on my overtime pay and as long as I do my 4-500 hours OT/yr I'm always close to break-even when filing taxes. If I work more, I get refund. If I work less I owe.

Edited by user a year ago | Reason: Not specified

DrMaddVibe
Herf-A-Holic

a year ago

#14

rfenst wrote:

Overtime is busting your ass more than just a regular day. Uncle Sam didn't ask you to overachieve. Uncle Sam didn't tell you to work. Time and a half is for working hours above and beyond. It should be a reward. Uncle Sam taxes it harder so it only rewards the lazy mentality for underachieving.

Yes, taxes are theft. You're taxed on making money. You're taxed on saving money. You're taxed on giving away money. You're taxed on money you want others to inherit. How many times is acceptable taxation on the money you make?

How do you figure people will have to spend less on labor? Especially at the expense of an entity that we recently found out is giving it away to nations that hate us, other entities that are despised because of the evil they do, and a slew of orgs and people willingly stealing from the US government via taxpayer dollars! Taxes to me should be either a flat tax or a consumable tax system. That would be fair to everyone playing. Pay off your house? No taxes on it. Don't have children in schools? Don't have to pay for them. Live with a well and septic? You don't get assessed for water and sewer. Why in the world should anyone want to pay taxes? Military, infrastructure and health insurance? I can remember when health insurance was a perk your company would reward you with for your hard work. Usually the better the company, the better the benefit. Then Obama fucked it all up by preaching to the ignorant that it was a right and the SCOTUS told you it was a tax?

ZRX1200
Herf-A-Holic

a year ago

#15

Butt muh ROOOOAAAADS!!!!

RayR
Herf-A-Holic

a year ago

#16

rfenst wrote:

No....Spending like a drunken congressman and printing fiat money increases DEBT.

An income tax is like being a slave to the state.

MACS
Herf-A-Holic

a year ago

#17

The UAE does not have taxes on individuals. Your money is your money. They charge a 5% value added tax on purchases of goods and services.

Dubai has some of the best infrastructure I have ever seen.

The USA was one of the richest countries evah back before we had income tax or all these other bullsheit taxes. How did we do that?

Oh... yeah... tariffs.

Cheno
Herf-A-Holic

a year ago

#18

MACS wrote:

But I thought tariffs were bad.

danmdevries
Herf-A-Holic

a year ago

#19

. Uncle Sam taxes it harder so it only rewards the lazy mentality for underachieving.

DrMaddVibe wrote:

Please cite the tax code that says over 40 hours a week gets you a higher tax.

Income tax is based off your annual income. No inclusion of hours worked. If I work 4000 hours for all the OT and make $100k, I am taxed on $100k. If I work part time at a higher hourly rate 1000 hours and make $100k, I am taxed on $100k.

You're confusing payroll withholding with actual tax paid. Higher withholding gives you a tax return/refund because you withheld more tax than was necessary for the annual income. If, like me, you work a lot of OT you can reduce your withholding on your W4 and not see that money get taken off your paycheck.

Here's another questionable scenario under this tax proposal. Most of my OT gets coded by payroll as "call worked" same 1.5x pay rate, but administration signs off on unlimited call worked while pushing for OT reductions. So no tax on OT, but 10 of my 50 hours this week is coded as call worked. Is that tax free?

Gene363
Herf-A-Holic

a year ago

#20

MACS wrote:

A VAT would collect tax income from anyone that buys anything. There is just one caveat, income taxes would need to be eliminated, not minimized or the parliament of whores would soon be rising taxes to even higher rates saying things like it for the children or defense.

I don't think it would be easy to get rid of income taxes because tax laws and regulation are the priceless for influencing the parliament of whores.

A second powerful lobby for income taxes is the accounting industry, including the tax preparation software sellers. It's a racket, the IRS already does your taxes.

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