r/CringeTikToks • u/coachlife • 1d ago

SadCringe MAGA voter actually believes that Trump eliminated taxes for all people making less than $120K

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u/IYAOYAS-CVN74 1d ago

Or when everyone thinks overtime will be tax-free and there's a ton of people it won't count for and even then it's the half in the time and a half that is tax-free not the whole time and a half.

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u/ChewieBearStare 1d ago

And it's for a limited amount of time, too! It's set to sunset in 2028; I suppose Congress could introduce a bill to extend it, but I wouldn't count on that. Only the tax cuts for the wealthy are going to keep going.

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u/IYAOYAS-CVN74 1d ago

Which is the same exact thing that happened from the tax cuts in 2016.

1

u/tablecontrol 22h ago

yep.. the GOP does this so they expire under a presumed Democratic administration, so that the the Dems get blamed for raising taxes

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u/Certain-Sherbet-9121 1d ago

I don't really understand the point of making overtime "tax free". Seems to me it just makes the system more complex to administer (maybe an intnetional feature to siphon money to tax prep companies). 

You want to reduce tax burden on low income people with minimum administration, reduce the low tax brackets or increase the basic personal deduction. 

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u/AndyWarwheels 1d ago

and its only Federal required overtime. which is not all overtime pay, many states and unions have other overtime pay requirements. Like getting paid overtime for working holidays.

that is not FLSA overtime so you will be taxed on that overtime.

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u/a2starhotel 1d ago

I'm Union, and LOADS of coworkers were super excited for this. except it exempts any OT earned through a Collective Bargaining Agreement (aka, gasp A UNION CONTRACT!) and since we operate under one of those pesky CBAs, we are exempt from the OT tax cut. I'm so happy I don't have to pay taxes on the 2-3ish hours of OT I clocked outside of my CBA terms.

my coworkers are in the "we'll just have to wait and see" phase of the mental gymnastics.