Question

Employees often complain that there is no use working overtime, because "Uncle Sam just takes it...

Employees often complain that there is no use working overtime, because "Uncle Sam just takes it all in taxes anyway, so what's the point?" is a true assumption, explain why or why not.

what main sources can you use to prove your point?

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Answer #1

I agree with the assumption. The payoff for working overtime although seems to be a very good deal for the employee however a huge share of the bonus earnings would straight to the tax collector. The employees for every extra hour worked is taxed at the highest marginal tax rate; and at time the working overtime may even push the employees into a higher tax bracket. Moreover overtime work significant impacts the health of the employee as too many hours can cause fatigue, burnout, and stress. The employee taxes on overtime would not be different than taxes on regular wages but addition of overtime income may cause an employee to be into a higher federal income tax bracket; thus adding more taxes on their income. The main sources will be tax rate as determined by IRS

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