Posted on 01/26/2025 6:43:52 AM PST by ChicagoConservative27
President Donald Trump revealed that he would be “working with Congress to get a bill” on his desk that passed a “massive tax cut for American workers and families,” and kept his promise on “no tax on tips.”
During a rally in Las Vegas, Nevada on Saturday, Trump spoke about how one of the things at the top of his administration’s agenda was to work to pass a bill to make the Trump tax cuts permanent and keep his campaign promise on ending the taxation of tips.
Trump added that for restaurant workers, servers, valets, or bartenders, or “any other worker who relies on tipped income,” their “tips will be one hundred percent” theirs.
(Excerpt) Read more at breitbart.com ...
I’ve advocated for no taxes on tips for decades. Hope he gets it through.
That said, it has to be carefully implemented to avoid unintended consequences such as businesses trying to make all payments "tips" through legal fiction.
One way we can help people now who live on tips is to tip in cash.
All income should be treated equally for taxation purposes.
Working harder for a larger tip is like working harder for a larger salary.
“massive tax cut”
The spending is out of control.
If people want tax cuts, they should be told they have to wait until DOGE makes recommendations and they are implemented.
Let’s eliminate all income tax.
Then working harder for all your own money instead of giving it to the Swamp sounds like a great way to Make America Great Again and drain the swamp..
Let’s make public service in govt unattractive to those who seek to be crooks and careerists
I’m not so sure Congress will be working with you :)
stop SSI taxes too
What happened to no income tax on Social Security?
“massive tax cut”
The spending is out of control.
If people want tax cuts, they should be told they have to wait until DOGE makes recommendations and they are implemented.
debt ceiling
reduced taxes
spending cuts
all go together. they are all tools.
Americans need to increase their use of cash and make their politicians afraid of ever going to CBDC.
The FICA tax comes back in old age. We don’t want impoverished 70-year-old former waitresses.
The 1040 tax rate on tips is about 15%. That percentage is somewhat less than the percentage lost to cheapskates, at least in my very limited experience as a waiter. I found I got about 12% on average. That 20% shortfall was greater than a 15% tax rate.
The Italian (and European) system of a mandatory service charge ‘servizio’ to pay mandated wages and an optional tip ‘mancia’ of about 5% for exceptional service should be adopted.
The ‘mancia’ amount might be made tax-exempt.
“debt ceiling”
The debt ceiling is a joke.
What I recommend is increasing the corporate tax rate in proportion to the increase in the national debt, on an end of a fiscal year basis.
The current corporate tax rate would get retained, instead of jumping back up, but it would get increased after the end of each fiscal year by about 3%.
Hopefully, the DOGE recommendations will get implemented and the corporate tax rate will top out at around the pre-Trump rate the Democrats want.
Corporations, Wall Street and shareholders, most especially of the limosine liberal type, need to be made allies in the fight against ever more vote-buying.
I wish they would work on a bill to cut government spending.
My wife was a waitress many years ago - we always tip in cash...
This is a sure way to destroy the dollar and get a credit downgrade and credit event.
This will create a wedge in the more fiscal side of the right and the current batch of republicans.
The taxes on tips will forever change the tax ecosystem, either good or bad. Many workers will change their methods of payment to game the system even more.
I’d like to see Capitol Gains indexed for inflation.
If a stock purchased 25 years ago shows a higher $ value than when purchased - but the difference is not a legitimate gain to the seller if the rate of inflation matches or is greater than the Dollar amount gained.
“ I’ve advocated for no taxes on tips for decades. Hope he gets it through.”
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While no INCOME TAXES on tips is a good thing, IMHO, tips should continue to be subject to FICA taxes so as to not have SEVERE ADVERSE IMPACTS down the road. Just sayin’.
Always look out for UNINTENDED CONSEQUENCES!
“Let’s eliminate all income tax.”
We may have to eliminate taxation, both on private sector personal income and property, to prevent increasing numbers of invaders from gobbling up what we personally have and to eke out by whatever jobs we still have or can get.
“Let’s make public service in govt unattractive to those who seek to be crooks and careerists”
Perhaps a progressive income tax on income from government power and privilege:
1st $2,000,000 0% (about nine years of Congressional salary)
2nd $2,000,000 20%
3rd $2,000,000 40%
4th $2,000,000 60%
5th $2,000,000 80%
any additional amount 99%.
That would, unlike term limits, not require a constitutional amendment.
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