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do they tax overtime pay at higher rate?


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#1 tommyw-5088

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Posted 11 June 2005 - 06:55 PM

we are getting lots of overtime at work the past couple of months ,but it seems if i do over 60 hours ,im working for almost nothing?? at 80 hours it seems like it is not worth the diffrence.
To all the white people of America who honestly feel that the black people have been so mistreated and given such a bad deal in this country I can only suggest that you should move yourself and your family, if you have such, into one of their neighborhoods and do everything necessary to become a integral part of their society, make every effort to blend your lifestyle into theirs, go to their stores, churches, and social gathering places for your needed things in life. send your children to schools where their children are the majority of the enrollment, and where they mostly compose the faculty and administration, get a job where they are in the majority and hold the important management positions...and most importantly of all, go the many prisons where they are being, justly...and unjustly, incarcerated and visit them and see them trying to be rehabilitated, but obviously so suppressed in their efforts that rehabilitation is just impossible. Then, after you have really gotten to know these people...many, many, many of them, from all walks of their lives and societies, and seeing their obvious appreciation of life in America, come forward and make suggestions as to how we white people should go about changing our ideals and society to better accept and integrate these people into our lives so that in a reasonable amount time there will be no more distinctions or differences in how we whites and blacks view each other and the hoped for blending and melding of our races can be completed and we can love and appreciate one another as you must think God intended.

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#2 Putt-Putt Operator

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Posted 11 June 2005 - 06:58 PM

Tommy-

Regardless of what they're taxing, at the end of the year, you'll still be paying taxable income based on the schedule in the Internal Revenue code. You're probably ultimately paying federal taxes of about 20-25% on that money, plus 7.62% for SS and medicare, plus state and local. What i mean by that, is that even if they hold back a lot more than what you'd pay in taxes if you had to figure them up, you'll just get back money at the end of the year (or pay in less) instead of getting it right now.

It just seems more punitive because you pay a higher effective rate per dollar as you make your way up through the income tax tiers, but you're ultimately still probably getting at least 60 cents on each dollar in wages.

#3 Putt-Putt Operator

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Posted 11 June 2005 - 07:00 PM

I forgot one thing - government is always going to get their piece, whether or not they earned it. Sure does suck. Guy who sits behind me and myself always joke that we have to figure out a way to start a level of government below local so that we can start collecting taxes.

#4 WEK

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Posted 11 June 2005 - 07:01 PM

Tommy. I do believe that once you get up into the $500,000 a year bracket the govt takes about 90% :angry: :( :lol:

#5 FV-265

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Posted 11 June 2005 - 07:02 PM

They do not tax overtime at a higher rate. You are taxed more because when you work overtime you earn more in that pay period and are taxed at a higher rate (as if you made that much a week all year round). If you make $60,000 a year and you make it in one week or in 52 weeks you will end up paying the same amount of tax at tax time. It all evens out at the end of the year. Look forward to a big refund.
Mike

#6 JD Humm

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Posted 11 June 2005 - 07:02 PM

we are getting lots of overtime at work the past couple of months ,but it seems if i do over 60 hours ,im working for almost nothing?? at 80 hours it seems like it is not worth the diffrence.

<{POST_SNAPBACK}>


Heck yes they tax you more. It puts you into higher tax brackets. I hate working more than sixty hours a week, because like you say, you don't see all that much on your check.

In 1996 I worked 7- 12 hour days, Labor Day was in that seven days. We get double time for anything over 8 hours a day and triple time for 8 hours if we work on a holiday, the other 4 hours go back to double time. That figures out to getting paid for 136 hours in a week. Uncle Sam took 50 percent of the gross for that week. I have never earned that many hours before or since that week, that was my all time record. My take home for that holiday in the work week week was actually less than the 7 - 12 hour days with no holiday in the week. :angry:

#7 Rick G.

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Posted 11 June 2005 - 07:10 PM

There is overtime available at my job until H_ll won't have it, but I won't work more than 55 to 60 hours a week, because after that, I don't see any benefit in my take home pay. It's like you've worked for nothing after that due to the taxes.

Rick.
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