Ya this is a dumb idea that will 100% be used for Wall Street bros to dodge taxes on their bonuses.
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If you donât tax tips, then thereâs really no evidence of tips, so wouldnât you have to pay tipped workers minimum wage instead of $6 an hour or whatever it is they currently get?
So shook
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Ketchup packets slowly sliding down the walls of Mar-a-Lago as he wrote this.
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Shut up, Trump lover.
Cap it at what most service workers make, or just go back to not reporting them.
Donât tax any earnings under 125k
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Why is it a stupid idea? What income level are the majority of service workers who survive on tips making? Seems like a tax cut for regular workers instead of one for Richy Rich. They need to hammer the differences between their policy and Trumps, which wasnât going to help low income workers (if I heard correctly).
When I waited tables a lot of our tips were still in cash. Obviously those never got reported. We had to report something like 8% of sales. And magically we never made more than that!
Iâm sure itâs different now with all credit cards.
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I still tip cash. Power to the people
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Itâs stupid that tips should be treated differently than other types of income. Just tax low earners less, donât create a system where a server that gets tipped pays less in taxes than a server (or any other low income person) that gets paid an hourly wage.
If anything itâs counterproductive. I think most studies agree that paying workers a living wage is better for workers than the current system we have of low salary + tips; and lots of people have been pushing for, with some success, of ending our tipping culture. This would of course stop all those efforts.
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It depends on the bill, but in theory you could keep the same tracking structure and just not have the tax. Because of taxes, most employers already have systems in place to estimate cash tips and they have records for credit card payments.
A better idea. Eliminate tipping culture altogether.
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Yeah the concern on this is that companies start lowering salaries while somehow encouraging tips for pretty much everything.
This is obviously the right answer.
Tipping fatigue is sky high right now, that would be dumb imo
Inb4 Wall Street bonuses are paid in $124k increments.
There is no reason to treat his type of income as special. There are far better policy ways to get the same, or a better, effect.