Trump says he will end all taxes on overtime if elected
Trump says he will end all taxes on overtime if elected
The Facts
At a rally in Tucson, Arizona, on Thursday, Republican US presidential candidate Donald Trump stated that he would eliminate all taxes on overtime pay as part of a comprehensive tax reform plan if elected on Nov. 5.
Removing taxes on overtime work above 40 hours weekly would increase worker motivation and streamline business hiring procedures. Trump said, "Itâ€TMs time for the working man and woman to finally catch a break."
The Spin
Trump's plan to cut taxes, if elected in November, aims to make "America richer and stronger." It's time to let the working man get something back for all his hard work. Eliminating taxes on overtime would give people an incentive to work more and give more disposable income for hardworking Americans. It's a win-win situation, as it would give people incentives to work extra hours and also benefit businesses.
Trump has an awful record when it comes to helping the working class. Trump claims that some prominent economists - without naming names - advised him that the plan to eliminate overtime taxes was a fantastic idea. However, some real economists say the idea is an absolutely terrible way to establish wage policies. This is Trump firing from the hip.
