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Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
There are ways to justify this (decreasing marginal tax rates are consistent with optimal tax theory, as you get the incentive effect without the reduction in revenue on the hours that people would work anyway), but in general I'm kinda worried about tax policy being driven by memetics. Becomes a complexity nightmare.
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Kyle B pfp
Kyle B
@kyb
inb4 ceo’s give themselves minimum wage pay + $100m in overtime
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Kiraa♡ pfp
Kiraa♡
@fwkiraa.eth
why are you worried? would you prefer he didn’t end all taxes on overtime pay?
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Icetoad 🎩 🍕 🎶 🐈 💚 pfp
Icetoad 🎩 🍕 🎶 🐈 💚
@icetoad.eth
This, as well as not taxing tips, are horrible tax strategies that sound good to people that don't contemplate this stuff beyond surface level.
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Kieran Daniels 🎩 pfp
Kieran Daniels 🎩
@kdaniels.eth
I think his idea is that wealthy people are absolutely never working overtime. That’s only a shift workers concept. So this is a way to help people who need it more. But ya you have a valid point.
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MM pfp
MM
@listen2mm.eth
It’s not just memetics, it’s an empty promise and/or a policy that is theoretically good for the working class but will be abused by the upper class in practice
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typeof.eth 🔵 pfp
typeof.eth 🔵
@typeof.eth
I could get behind the idea of the government essentially subsidizing overtime pay, but this seems like it would be an accounting nightmare. Honestly doesn’t seem like a bad idea but I’d be very sus about the execution.
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MattwithouttheT 🎩 pfp
MattwithouttheT 🎩
@mathew
Sadly, a lot of politicians’ policies these days are driven by memetics. They’ll say wha they think is going to get them votes.
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helladj™ pfp
helladj™
@helladj.eth
@dwr.eth STOP SHOWING ME THIS POST I see it EVERYDAY
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Tim pfp
Tim
@cryptim.eth
What do you know about the average American? If you don’t know their struggle I would stay out of American politics
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Sean Wince 🎩 pfp
Sean Wince 🎩
@seanwince
Overtime actually isn't that common because companies usually have more incentive to prevent employees from ever breaching 40 hours/week. That's why so many in this economy are working two or more jobs, like 35 hours at one place and 25 at another, when they would almost certainly prefer to work 60 at one of them. Or they are working over 40 in practical terms but are not clocked in or the employer uses some loophole to avoid overtime pay. https://www.nber.org/papers/w30826
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Lauren McDonagh-Pereira pfp
Lauren McDonagh-Pereira
@lampphotography
Also, the "promise of the future" was that more technology = fewer working hours = greater quality of life. A tax incentive to have fewer employees work more hours sounds like a genuine nightmare.
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max ↑🎩 pfp
max ↑🎩
@baseddesigner.eth
taxes are already a complexity nightmare, adding one more row in the sheet for the accountant isn't that bad, the whole system is because you rarely can get it done by yourself, especially if you do it in a different country than US
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max ↑🎩 pfp
max ↑🎩
@baseddesigner.eth
people would just be less efficient and lazy during those 40 hours and then have more to do during overtime - earning more in the end due to less tax
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oxdev.base.eth 🎩🔵Ⓜ️ pfp
oxdev.base.eth 🎩🔵Ⓜ️
@ayojoseph
Your concern is valid but that's how politicians rally their base, if it's not sounding "memetics" the effect will be minimal.
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Dr B lizardo pfp
Dr B lizardo
@bluelizardo.eth
you really think all that talk is gonna turn into action? If it were that simple, people wouldn’t be so torn on picking the better option
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Rex Pepple pfp
Rex Pepple
@pepplerex
Totally agree. When tax policy is driven by catchy ideas, it just creates a mess that’s harder to manage for everyone.
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helladj™ pfp
helladj™
@helladj.eth
This is 780 $degen 🌀
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22
@themuyideen.eth
What do you mean by “memetic” in this context
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Dean Pierce 👨‍💻🌎🌍 pfp
Dean Pierce 👨‍💻🌎🌍
@deanpierce.eth
Seems like largely a bribe for police officers who often make a majority of their income from overtime pay, which of course comes from everyone else's tax dollars. Most other workers in the US are either (improperly) excepted from OT or illegally denied it by their employer. Just another example of building up the base for his fantasy authoritarian dictatorship 🤷
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