No Tax on Overtime? Another Trump Tax Gimmick!

(00:00.866)

Another Trump tax gimmick. Yeah, I saw this bright and early this morning when I got up. No tax zone over time pay. What?

(00:18.462)

Again, this is a Donald Trump. I’m sorry, people, I’m calling it what it is. You want me to lie here? it’s a great idea. It’s a gimmick, OK? It’s a gimmick and it’s not going to pass. This is an appeal to obviously working class, which I hate that phrase, working class. I work, but I’m not considered working class.

He wants to, all right, we already got ending taxes on tips, eliminating taxes on social security benefits. We got the, the tax giveaway, the deduction for newborn babies. And now, now we are going to make overtime pay, overtime pay tax free. Anything over 40 hours a week for hourly workers going to be tax free.

You could just see after this happened, if it ever happened, we’re like, yeah, we’re gonna lower the work week to 35 hours. Listen, I don’t like paying taxes for comprised tax. I don’t like paying them, okay? I’m getting crushed with taxes here, there, and everyone. One of the reasons why I don’t like paying tax on the main reasons is that we just waste money.

all the time. go further and further into debt. Put Trump’s tax gimmick aside. Our interest on our debt has just surpassed $1 trillion. The August deficit was a record high. mean, holy shnikes was it off. $90 billion worse.

$90 billion worse than expected. $0 of every dollar the government spent in the month of August was borrowed. What don’t you understand? The media doesn’t talk about this. Of course not. No, either side. We didn’t bring it up at the damn debate for crying out loud. Listen, I don’t have any problem. Trump wants to put these tax gimmicks forward.

(02:44.362)

I would say this, I would say, if I was cutting tax, let me tell you what Chris Markowski would do. Yeah, I wanna cut tax. I wanna eliminate taxes on tips. Okay, that’s gonna do an estimate. Go to Congressional Budget Office, okay? That is going to reduce, and we’ll even take out the additional economic growth that’ll go along with that. We’ll be very conservative. What do you say that is going to reduce the amount of money coming into the treasury?

Okay, let’s just say it’s, let’s just say it’s $5 billion over 10 years. Okay. What we’re going to do is we’re going to cut spending by $5 billion and then we’re going to double that. We’re to cut it by 10. So now that we’re to cut taxes, okay, we are going to eliminate spending, wasteful spending. We’re going to cut spending by $5 billion to meet that. And we’re going to cut an additional $5 billion to help reduce the debt.

Does that seem prudent to you? Yet you want this? Fine! Fine, I want my taxes to come down too, okay? This is fine. But it’s a freaking gimmick, man. And I’m not saying how do you pay for this? It’s not a matter of paying for it. It’s a matter of that the people getting the money are spending too much.

They’re spending too much. I want to cut taxes, but everybody keeps demanding more and more crap from the government all the time and you don’t want to pay for it. We went over this this past week. Everybody wants some. I want prescription drugs. I don’t want to pay for my healthcare. I don’t want to pay for my childcare. I want a tax credit when I have kids. I want, I want, I want, I want, I want. And you want tax cuts too.

Yeah, I don’t ask a damn thing. Not a damn thing. I don’t ask a damn thing from the government. And I pay my taxes. But I’m sorry. This is again, it’s populist crap. I highly doubt it will ever pass. I really do. But these numbers are accurate, people. Why don’t you take a look at our fiscal situation? For once. Take a look. You know what, man, what I’d say is well to.

(05:15.138)

I would, if I was doing it, I would say, okay, you got to reduce $5 billion if that’s what they’re saying it’s going to cost. Not cost, wrong word. That’s what’s going to be reduced in regards to tax revenue. You take that from Republican priorities. You take the other $5 billion from Democrat priorities. Call it a day. These are important to you, but you know what? We’re going to cut taxes, but we’re also, guess what? We’re going to lower the debt and we’re gonna cut spending. Watchdog on wallstreet .com.