Posted on 05/04/2025 10:17:54 AM PDT by SoConPubbie
Last night, President Donald J. Trump renewed his call for Congress to pass the “one big, beautiful bill” and once again deliver the largest tax cuts in history to the American people.
In addition to finally exempting tips, overtime, and seniors’ Social Security from taxes, here’s what else that means:
I don’t expect the media to talk about this very much.
Oh the enemedia will talk about it... they will claim it is a tax cut for billionaires or some similar tripe for their ignorant Socialist-loving supporters...
Personally, I don't like all the special cases. One tax rate for everyone. No special rules, no carve outs. No rules like teachers getting a tax credit or deduction for spending on work when no one else gets it.
Just lower the rate rather than picking out some income to be tax free.
This might be bad. What if voters start switching to the Republican party?
Is an extension of the QBID in there?
Exactly, no pandering and no picking winners. I see the tip thing a bit differently though, since it has the character of a gift between individuals.
I hate how they get to have it both ways. First they set tax rates in such an unbalanced way, now they get to claim with any any cuts high earners get all the savings. Maybe pubs should message it as “Low-income people already got all the cuts”.
So if overtime is not taxable, it must be non-deductible as well. If that happens, you’ll see companies moving more employees to a salary.
You drop SS tax, and tip tax, and OT tax ?
Democrats are toast.
It would be naive and foolish to count them out or dismiss them as political threats. Their supporting infrastructure (news media, education and entertainment) is still in place just waiting to capitalize on any miscue Trump might make. Even something beyond his control.
Get rid of the cap on SALT, delete as much federal government as feasible, passing unconstitutional responsibilities to the states where they belong, and cut the federal tax rate in half (lowest rate 5%, highest rate 18.5%).
Trump needs to ask Congress for help. He should only extend tax cuts on a year-to-year basis and only after getting what he needs do the job he was elected to do. Trump needs the ability to muscle a uniparty Congress by maximizing his veto power.
Members of Congress would have answer for failure to extend tax cuts and we all know what cowardly people they are. Trump on the other hand will never again run for office.
If the corporate tax rates go back up, New York State (and California) capital gains tax revenue might fall by half. That’s not something Schumer wants to happen.
“Get rid of the cap on SALT”
SALT reform should be tied to Medicaid reform, otherwise Medicaid reform would never get enough votes.
If I worked at Walmart and got overtime pay, both me and the manager responsible would probably get fired.
Overtime is mainly paid to public employees and often is done to enhance their pensions.
The whole idea of effectively limiting people to 40 hours a week to avoid paying time and a half was a Great Depression era idea, now outdated when employers are often seeking more help.
The time and a half stuff needs to go.
The PPACA 32 hours cap needs to go.
People who need more money to pay their bills should not have silly federal government obstacles in their path.
“exempting tips, overtime, and seniors’ Social Security”
only “tips” paid in cash as the principle should be taxation equality except when otherwise justified (servers should be able to pay FICA on the income (to be employer matched) so their Social Security won’t be less)
“seniors’ Social Security”: That’s probably OK because above a certain amount the payout percentage goes from 32% to 15% as I recollect.
I was talking to my dentist.
His health insurance premium is $1600/month.
Trump (and other interviewed Reps) need to say this to their interviewer
“Do you have ANY questions that are not “Gotcha” questions?
I don’t answer “Gotcha” questions. Next question.
“President Trump not ruling out a military invasion of Greenland.” (or close to that)
EXACTLY the headline she was looking for.
She didn’t get the answer she wanted to the “Gotcha” question about invading Canada.
I can just hear the pre-interview meeting...
“Get Trump to say THIS. Get Trump to admit THIS.”
Mr. President, NEVER forget, “You knew damn well I was a snake before you took me in”
Media/interviewers are SNAKES!
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