Have you ever thought that it's a darn good thing that you are of the political association that you are because it means that it makes you the best possible payroll professional you can be? Well guess what? It is a darn good thing... but it isn't specific to one political affiliation. It is because we all have different belief systems that the well-oiled machine that is the payroll profession works as well as it does. We all have to be a little bit conservative, a little bit liberal, and a whole lot flexible.
As we roll into another election season, I thought it would be a fun exercise to look at the core values of each of the parties as they relate to PAYROLL and issues facing today's payroll professionals.
One thing before I dive into this... Please know that every belief system, every opinion, and every party line is important to me, whether or not I agree with it. This is by no means an attempt to sway or offend any specific political affiliation. The following statements are based solely on generalizations found during my research using the online tools available to me - and I absolutely used more than one resource so as not to bias the generalizations one way or the other.
Democrats believe in progressive taxes, where high income earners are taxed at a higher rate. Republicans favor the same thing but using a flat tax set up, where all income earners pay the same percentage regardless of base income. Payroll professionals are still wading through all of the changes that the Tax Cuts and Jobs Act brought about. We also study the intricate workings of the circular E (IRS publication 15) tax tables to ensure that the taxes withheld from employee pay is accurately calculated.
Democrats support a broader range of social services, while Republicans support limited government influence. Democrats have strong beliefs about equality and social responsibility, and Republicans believe more in individual rights, responsibilities and freedoms. Payroll Professionals balance the active role government has in payroll related laws, including taxes, benefits, minimum wage, labor laws, and the pro-active nature with which these laws are sometimes enacted with the economic productivity of the individual employees whom we are responsible for paying accurately and on time as well as supporting the financial well-being and maintaining the compliance of the businesses that have hired us to do so.
Minimum wages rules are poised for increases and changes in the near future, which Democrats support as part of their plan for helping workers but Republicans do not support in favor of small business success. Payroll Professionals are tasked with the monumental process of tracking the minimum wage at both the federal and state levels as well as the overtime rules for those states that have enacted employee favorable variations of the federal rule like in California and Nevada.
It's also important to remember that the current platform of either party may not always be the same. As times change, and social awareness evolves, so does the leadership in the parties, and the core values along with them. Looking back at the platforms when Lincoln became president is a great example of this.
So again, your chosen party affiliation makes you a GREAT payroll professional, regardless of which party it is. Hold true to your core values, continue to keep American workers paid in a timely and accurate manner, and always know this... whether you hear it frequently enough or not... you are appreciated!