Meanwhile Costco in Australia is pushing to have penalty rates abolished. They might be good by American standards but they can get fucked trying to erode Australian workers rights.
Had to look it up myself, it’s their name for what Americans call “overtime”
like if you work over 40 hours in a week, any hours you work over 40 are paid out at 150% of your normal rate, some places do 200% for Sunday or holidays.
Trump promised no taxes on what we call overtime. Usually employers will pay 1.5x over 40hrs. However the taxes for those hours get deducted from your paycheck at your highest marginal tax rate. When you file your tax return this all balances out, but you don’t see much immediate gain from working OT and people will say “I don’t want to get bumped into the next tax bracket, so I don’t want a raise!” Even correcting a coworker one time, they responded, “you’ll learn when you’re older.”
My guess is that employers will stop paying the additional pay and tell the workers they’re making more this way. So basically a “tax cut” but employers will ultimately get the benefit of it. People in the U.S. don’t understand how taxes work and pay to file them even though it’s really easy for the majority of people. They even call the basic form a 1040-EZ.
“I don’t want to get bumped into the next tax bracket,
There are other reasons why someone will not want a raise. There are cases where getting a small raise will bump you out of benefits completely. Extra $20 a month may cost you $200 in benefits. In the USA anyways. I agree with your statement.
I got a good chuckle out of the doubling down “learn when you’re older” until I realized you had to see them 5 times a week. Sorry, that sucks and it is sad how little Americans know of their own country. Like when people talk of immigration as if you can just fill out a form and be American tomorrow- they don’t even know most countries need a visa just for vacation into the US. And man I hate taxes so much- it grinds my gears that we’ve got these tax corporations bending us over when they have all the info to not require filling out tax forms for the majority of people.
Meanwhile Costco in Australia is pushing to have penalty rates abolished. They might be good by American standards but they can get fucked trying to erode Australian workers rights.
What’s a “penalty rates”?
Had to look it up myself, it’s their name for what Americans call “overtime”
like if you work over 40 hours in a week, any hours you work over 40 are paid out at 150% of your normal rate, some places do 200% for Sunday or holidays.
Found this article from a couple days ago.
https://www.actu.org.au/media-release/1-million-australian-workers-at-risk-of-penalty-rate-cuts-while-bossesare-promised-free-lunches/
Overtime is a type of penalty rate, these are the others:
There’s penalty to the employer for asking to work these times, in the form of more money. As it should be
Trump promised no taxes on what we call overtime. Usually employers will pay 1.5x over 40hrs. However the taxes for those hours get deducted from your paycheck at your highest marginal tax rate. When you file your tax return this all balances out, but you don’t see much immediate gain from working OT and people will say “I don’t want to get bumped into the next tax bracket, so I don’t want a raise!” Even correcting a coworker one time, they responded, “you’ll learn when you’re older.”
My guess is that employers will stop paying the additional pay and tell the workers they’re making more this way. So basically a “tax cut” but employers will ultimately get the benefit of it. People in the U.S. don’t understand how taxes work and pay to file them even though it’s really easy for the majority of people. They even call the basic form a 1040-EZ.
BTW, that 1040-EZ form no longer exists. Out since 2018.
There are other reasons why someone will not want a raise. There are cases where getting a small raise will bump you out of benefits completely. Extra $20 a month may cost you $200 in benefits. In the USA anyways. I agree with your statement.
I got a good chuckle out of the doubling down “learn when you’re older” until I realized you had to see them 5 times a week. Sorry, that sucks and it is sad how little Americans know of their own country. Like when people talk of immigration as if you can just fill out a form and be American tomorrow- they don’t even know most countries need a visa just for vacation into the US. And man I hate taxes so much- it grinds my gears that we’ve got these tax corporations bending us over when they have all the info to not require filling out tax forms for the majority of people.