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'No Tax On Tips' Reveals the Chasm Between Left and Right: Trump's 'no tax on tips' proposal may be more of a game-changer than the leftist elites believe
American Thinker ^ | 06/21/2024 | John F. Di Leo

Posted on 06/21/2024 7:31:21 AM PDT by SeekAndFind

President Trump has focused his 2024 campaign on a number of issues that one would expect, but he shook up the game this summer by issuing a new policy proposal: “No Tax On Tips.”

While his campaign hasn’t released the usual detailed policy papers on it yet, the president made it clear what he means: “restaurant workers, hospitality workers, and anybody else who gets tips.”

The Left responded immediately with what they see as the downside:  by reducing federal taxes on tips, federal revenues would drop by a huge amount of money, or at least, by an amount of money that sounds huge.

The Committee for a Responsible Federal Budget declared that this program would likely cost the federal government between $150 and $250 billion in revenues over ten years. The Democrats consider this terribly irresponsible.

But they happily spend that much in weaponry for a war between Russia and Ukraine, or for hotels, food, education, transportation and hospital bills for illegal aliens.  At least President Trump’s proposal is for American workers.

And when you re-read that number, you see that the estimate is over ten years.  That means the accountants are estimating a cost to the federal government averaging $15 to $25 billion per year, in a nation with a federal government currently running a $2 trillion deficit on a $6.5 trillion annual budget.

Viewed in that context, to describe President Trump’s proposal as being a drop in the bucket – a veritable rounding error -- would hardly be an exaggeration.

What’s the visual on this? The modern Left can’t bear to miss out on an opportunity to take the last dollar out of a waitress’ hand as she boards the city bus to go home at 1:00 a.m.


(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: taxes; tips; trump
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To: Political Junkie Too

You can twist words to make them suit your intent. The Government is in the business of equal justice under the law. The enumerated powers do not include control over all aspects of American life.
None of the enumerated powers suggest the Government should be in the business of setting wage levels of different occupations or mandating identical tax policies for various types of employment and earned income. Income tax law is already burdensome, inefficient, subject to political corruption, and distorts our economy.

I do not applaud any such Government intervention. What the Government touches it warps or destroys.


61 posted on 06/21/2024 9:57:53 AM PDT by JayGalt (DEI = Didn’t Earn It)
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To: SeekAndFind
...it won't be law unless he has Congress enact it.

But...but...didn't Uncle Joe show us that all the pres hasta do is sign an ezecative order???

62 posted on 06/21/2024 10:25:42 AM PDT by RobinOfKingston (Just what is the difference between a "centrist democrat" and a "moderate republican?")
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To: JayGalt
I'm not supporting a tax on unrealized gains, I just pointed out the Constitutional expectation that the laws be necessary and proper.

-PJ

63 posted on 06/21/2024 10:33:47 AM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: Leaning Right

The sweet part is that if the roofer has enough after tax money to go to dinner he is paying a guy who makes more than him and most of that officially tax free, and the roofer gets a nice meal in a comfortable air conditioned environment with soft music.


64 posted on 06/21/2024 11:15:54 AM PDT by ansel12 ((NATO warrior under Reagan, and RA under Nixon, bemoaning the pro-Russians from Vietnam to Ukraine.))
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To: ridesthemiles

“ONLY above $17,000 the then the tax falls on the GIVER.”

Correct, $17,000 per year.


65 posted on 06/21/2024 11:19:32 AM PDT by riverdawg
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To: JSM_Liberty

Or, I sell some asset for a couple of bucks, with a huge tip.

Take that, Capital Gains.


66 posted on 06/21/2024 11:56:14 AM PDT by Scrambler Bob (Running Rampant, and not endorsing nonsense; My pronoun is EXIT. And I am generally full of /S)
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To: Political Junkie Too

: )


67 posted on 06/21/2024 12:20:05 PM PDT by JayGalt (DEI = Didn’t Earn It)
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To: riverdawg

The annual gift tax exclusion is a set dollar amount that you may give someone without needing to report it to the IRS. The threshold is typically adjusted to account for inflation each year. The IRS announced that the annual gift tax exclusion will be $18,000 in 2024, up from $17,000 in 2023.
Probably 19K 2025


68 posted on 06/21/2024 12:58:17 PM PDT by JayGalt (DEI = Didn’t Earn It)
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To: SeekAndFind

That does it. From now on, I’ll only be charging tips in my shade-tree auto repair business.


69 posted on 06/21/2024 4:55:23 PM PDT by moovova ("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
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To: Jonty30

True what you say.
A good server can
easily double their
normal hourly wage.


70 posted on 06/21/2024 10:49:57 PM PDT by Lean-Right (Eat More Moose)
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To: Leaning Right

Income tax should be
abolished.


71 posted on 06/21/2024 11:21:04 PM PDT by Lean-Right (Eat More Moose)
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To: SeekAndFind
Update...

🚨 Donald Trump writes ‘Vote Trump for No Tax on Tips’ on his receipt while getting cheesesteaks in Philly 😆

72 posted on 06/23/2024 3:47:57 AM PDT by mewzilla (Never give up; never surrender!)
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To: JayGalt

“The IRS announced that the annual gift tax exclusion will be $18,000 in 2024, up from $17,000 in 2023.”

Yes; thanks for the update.


73 posted on 06/23/2024 1:22:14 PM PDT by riverdawg
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