I'm not from USA but this can't work, because how do you stop someone negotiating their a salary of say $x and the $y in overtime and therefore reducing the overall tax burden. It would be a nightmare to control. The only way this could work is for fulltime union jobs only where there is a union/employee agreement in place or what we call Award wages or Enterprise Bargaining agreement in Australia.
The cost to employ 2 people with benefits vs 3 people with benefits isbsubstantiallyblower EVEN with overtime factored in. To the company, paying overtime for 2 employees is less than paying reg hrs for 3 employees- that is our tax structure is set up- companies have to pay per employeebon their end too- Social Security Unemployment, Medicare- all obligations are met by the employer as well as the employee---- even our fed gov does this: overtime pay < more emoyees
I'm not from USA but this can't work, because how do you stop someone negotiating their a salary of say $x and the $y in overtime and therefore reducing the overall tax burden. It would be a nightmare to control. The only way this could work is for fulltime union jobs only where there is a union/employee agreement in place or what we call Award wages or Enterprise Bargaining agreement in Australia.
Agreed.
Came to also post questions about if overtime is at a mandatory rate, I e. Traditionally it's considered "time and a half", but is that codified?
Same question as you, essentially.
The cost to employ 2 people with benefits vs 3 people with benefits isbsubstantiallyblower EVEN with overtime factored in. To the company, paying overtime for 2 employees is less than paying reg hrs for 3 employees- that is our tax structure is set up- companies have to pay per employeebon their end too- Social Security Unemployment, Medicare- all obligations are met by the employer as well as the employee---- even our fed gov does this: overtime pay < more emoyees
This is a steppingstone that will be surpassed by next month…
There will be NO [taxes] save for sales tax.
Maybe it's just a test to see if Kamala copies 😃