Kamala / Walz 2024

Of course a tax cut for lower earners is a good idea. So do it. “No tax on tips” is some weird pandering thing singling out a portion of one group’s income, and they stole it straight from Trump. It’s not a plan to give lower earners a tax cut. JonnyA said it better.

“No tax on tips” also runs against other more meaningful labor reforms. Do we really want to encourage more service jobs where workers depend on tips? Classic (if somewhat superficial) tax theory is that you get more of what you tax less, and we probably need reforms aimed at encouraging more full-time employment with benefits and labor protections for workers. Of course doing both should be on the table as well.

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If something is paid in increments, that doesn’t mean the IRS is fooled into thinking that’s your total income. How do you think bi-weekly paychecks work?

Because tax loopholes never work. :stuck_out_tongue_winking_eye:

Taxes on tips is kinda whatever. The real tax reforms need to be closing loopholes for high earners, raising rates on high earners (including wealth taxes), and increasing enforcement on tax evasion by the wealthy.

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There is already an income level up to which no income tax is owned. Walk Street bankers are not using this provision to pay no income tax. Other loopholes, sure. And “no tax in tips” sounds much more susceptible to loopholes than no income tax on first $x of income.

I imagine there’s a semi-unintentional crackdown happening on tax cheats who don’t report their tips. Now that it’s all running through credit cards, a lot of tips that weren’t previously reported are getting W-2ed.

It’s bizarre that you get a free improvement in tax enforcement though and you want to legislatively overrule it.

Me after Denny’s serves my eggs over medium instead of sunny side up:

https://x.com/BGOnTheScene/status/1822339942040957064

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Server: $12/hr plus tips. Don’t tax the tips!

Dishwasher: $12/hr, no tips. Fuck him!

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That’s because there are no details because it is a campaign slogan. No one will listen to a 3 minute explanation of who and what are covered by the policy so there is no telling what it will turn into. I could see how it could be done fairly but have no expectation that the government would do such a thing…

My first job was as a dishwasher at a Shoney’s, so no tip out. I learned that cleaning the scrambled eggs out of the buffet trays was really tough.

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12/hr should not be paying any federal income tax at all, right?

Still has to pay FICA

Trump’s worked strikes actually look pretty solid. Wish he would’ve stuck with wrestling instead of politics.

Yah, also ratings. It’s gotta be neck and neck between those 2, but crowd sizes are more relevant atm.

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I hope he keeps running with this line of attack. Totally logical explanation to the big crowds we’ve been seeing.

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9 year old me could never fathom a presidential candidate who used to be the president would ever talk like this.

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Will press ask him about this? Haha