this post was submitted on 14 May 2025
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I never understood how he could even promise to exempt overtime from taxes. Tips, I understand, but overtime is lumped in with your wages on your W2.
How would the IRS be able to tell your overtime wages apart from your regular pay?
There is a lot of room for abuse. Old salary $20/hour. New salary $8 + $12 overtime. For every "real hour" worked, you get 1 hour of "standy overtime pay". Employer still gets to deduct $20/hour expense, you get taxed on just $8/hour pay? Or maybe it is $16/hour, with $4/hour tax free. This scheme can replace a raise. Employees could get screwed if the "overtime gift" gets cancelled later.
Which is baked into the tax plan. 3 years and the OT tax break goes away. 3 years for companies to skimp on actually raising pay to meet living costs. Then they'll just blame the Dems if they win any seats or stay quiet if they retain majorities.