Will Kamala Harris Finally Kill the Billionaire Tax Break?
JacobinAug 24
Trump Proposes Ending Taxes on Overtime
Image copyright:Â Justin Sullivan/Staff/ Getty Images News via Getty Images
The Facts
Former Pres. Donald Trump, the Republican nominee for president, Thursday at a rally in Tucson, Ariz., said that if he's elected this November he will eliminate all taxes on overtime pay as part of a comprehensive tax reform plan.
Trump, explaining that removing taxes on overtime work above 40 hours weekly would increase worker motivation and streamline hiring procedures, said, "It's time for the working man and woman to finally catch a break."
The Spin
Republican narrative
Trump's wildly popular economic plans, including this blue-collar tax cut, will make America richer and stronger. This would be a win-win situation, with workers further incentivized to work extra hours to contribute to the success of their employers while earning money for further spending that will boost the economy.
Democratic narrative
Trump's track record in actually helping the working class is awful, and this plan is no different. While he may claim removing taxes on overtime pay has the approval of economists, there are plenty of economists who believe this idea is terrible and is probably an example of Trump just offering bad-faith populist rhetoric with elections just weeks away.