Skip to comments.
Ted Cruz Puts Trump's Tax Idea Into Bill Form, Quickly Gets Support from Fellow Republicans
Western Journal ^
| 21 June 2024
| Jack Davis
Posted on 06/22/2024 4:54:31 AM PDT by Sam77
Republican Sen. Ted Cruz of Texas is not waiting until after the presidential election to launch a bid to put one of former President Donald Trump’s ideas into effect.
Cruz has introduced the No Tax on Tips Act that would keep the Internal Revenue Service from taking a slice of the income service workers gain through tips, according to a news release on Cruz’s website.
During a recent rally in Las Vegas, Trump indicated he opposes taxes on tips, according to The Hill.
(Excerpt) Read more at westernjournal.com ...
TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: irs; jackdavis; lasvegas; nevada; tedcruz; texas; thehill; westernjournal
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-57 last
To: Sam77
These things need to be ready to go on Day One and get rammed through.
41
posted on
06/22/2024 12:11:43 PM PDT
by
NFHale
(The Second Amendment - By Any Means Necessary.)
To: kosciusko51
No similarity, bonuses come from your employer. Tips come directly from your customer.
To: Brown Deer
To: moovova
If you work for a company, do you know that your employer only pays taxes on profit?
For example - Hypothetically you are an HVAC guy. You have a customer who purchased a new AC, you installed and delivered it. Your customer paid your company $20k. Your employer deducts the cost of the product, shipping, mileage, insurance, all employee costs, facility etc. They then may pay taxes on say 2k in profit. The customer already paid taxes on their money so now the government gets to re-tax on 2k of profit.
However for tips from a person to a person, there is very little deduction. So you collect $4k in cash tips, which is already likely been taxed on the customer side, and now the cash is re-taxed again, almost in it’s entirety. It’s horrible from an overall tax perspective because it is just one example of how broken our taxation system is.
44
posted on
06/22/2024 1:19:08 PM PDT
by
light-bulb
(Plures efficimur quotiens metimur a vobis; semen est sanguis Christianorum)
To: moovova
“Income tax paying voters should be pissed about this. I am.”
I wouldnt say I’m pissed but Trump is playing the same game Democrats play, giveaways in exchange for votes. It’s BS.
Lower taxes for all to unleash the economy should be the mantra.
To: light-bulb
I didn’t know that. Thanks.
46
posted on
06/22/2024 3:15:19 PM PDT
by
moovova
("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
To: Cloverfarm
To make $3 an hour and get taxed on an assumed $10 an hour is just wrong.
Huh? How/where could this ever happen?
To: Sacajaweau
And tips shouldn’t be split between all the workers. That’s the purpose of a tip...to reward the particular person who takes care of you.
And that person couldn't have given you good service if the busboy didn't clean your table first. If the bartender didn't mix your drink quick and just right. If the cook didn't handle your stupid complicated order correctly, despite the waiter's Doctor-level handwriting. Most waitstaff I've known have no problem with sharing tips.
To: Svartalfiar
Yep, 20 years in the hospitality industry. Servers are happy to tip-out for good work
49
posted on
06/22/2024 7:19:41 PM PDT
by
Trailerpark Badass
(“There should be a whole lot more going on than throwing bleach,” said one woman)
To: Sacajaweau
Cuz they don’t get minimum wage.
Yes they do. If not, they get more!
To: light-bulb
They then may pay taxes on say 2k in profit. The customer already paid taxes on their money so now the government gets to re-tax on 2k of profit.
If the government couldn't tax dollars that were 'taxed previously', tax revenue would go to zero. Every single dollar goes back at some point to someone getting taxed on it. All those business expenses that hvac company subtracted from their income, gets taxed when they paid the install guy, or the profit at the company they bought parts from. Which then repeats back and back and back.
Unless it'sfresh off the press, every dollar has likely been taxed at tens or hundreds of times its face value over its life.
To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; BraveMan; cardinal4; ...
- Uber and Lyft riders explain why they do and don't tip their drivers -- who only get tips a quarter of the time [06/21/2024]
- '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 [06/21/2024]
- Agitprop: Trump's Tariff Trap. Replacing income taxes with tariffs doesn't pencil out. [06/20/2024]
- Biden Adviser: Biden Responds to Economists Saying He's Wrong on Shrinkflation by 'Following His Gut' [06/22/2024]
- How much a single person needs to earn to live alone in the 25 largest U.S. cities [06/22/2024]
- 'Some creative jobs may go away, maybe they shouldn't have been there in the first place': OpenAI CTO Mira Murati [06/22/2024]
- The rise of the anti-woke shareholder [06/22/2024]
- International Brotherhood of Teamsters President Sean O'Brien to Speak at RNC Convention [06/21/2024]
- Inviting All Tampa Bay FReepers To A July 4th Meet-Up For Beer, Wine, and Wood-Burning Brick Oven Pizza! [06/21/2024]
- Stocks: Nvidia is now worth more than the GDP of every country except these 11 [06/21/2024]
- Carville: 'This Economy Is Not That Good for Young Americans' [06/21/2024]
- Jobless Claims Exceed Estimates, Philly Fed Index Declines, Housing Starts And Permits Fall Sharply: Thursday's Economic Digest [06/21/2024]
- Yellen: We Have 'Normal' National Debt Interest Burden [06/21/2024]
- Constitutionality of Taxing Unrealized Income Upheld by High Court [06/21/2024]
- Cashier Doesn't [know how to] Count Money at WalMart [06/20/2024]
- Nearly half of Americans struggling because of inflation spike: poll [06/20/2024]
- They Rarely Report the Revisions--Three Months of 2023 Job Gaines Wiped Out After Updates [06/20/2024]
- Yellen on Report CCP Subsidizes Fentanyl Precursors: They've Had 'Helpful Developments' But We'd 'Like to See More' [06/22/2024]
- Judge turns Houston bankruptcy court into profitable venture for girlfriend [06/21/2024]
- America's federal lands were set to be listed on the stock exchange before the proposed rule was yanked [06/21/2024]
- Sign of the times: Biden slaps his name on taxpayer-funded projects [06/20/2024]
- YIKES! You Won't Believe How Much Biden's Student Loan 'Forgiveness' Adds to the Deficit [06/21/2024]
- Yet Another Bad Admissions Idea. The College Board's "Landscape" tool is terrible news for admissions fairness. [06/22/2024]
- Dem lawmaker in tears after Republican says its unfair for Asians, Latinos to pay reparations [06/21/2024]
- Dem lawmaker in tears after Republican says its unfair for Asians, Latinos to pay reparations [06/22/2024]
- The State Wants To Nationalize Second Mortgages. What Could Possibly Go Wrong? [06/21/2024]
- Los Angeles Will Require Photo ID For Homeless Luxury Hotel Living But Not For Voting [06/21/2024]
- Los Angeles Will Require Photo ID For Homeless Luxury Hotel Living But Not Voting [06/22/2024]
- Denver gave people experiencing homelessness $1,000 a month. A year later, nearly half of participants had housing. [06/20/2024]
- Buyers Needs a $127,000 Down Payment to Afford a Typical Mortgage Payment [06/20/2024]
- Guest Opinion: Against Good Cause Eviction (Ithaca NY) [06/20/2024]
- Report: Portland Area Spent over Half a Billion Fighting Homelessness [06/20/2024]
- Switzerland makes second interest rate cut as major economies diverge on monetary policy easing [06/20/2024]
- Agitprop: The Economics of Cthulhu: Why The Right Always Loses [06/21/2024]
52
posted on
06/22/2024 8:26:33 PM PDT
by
SunkenCiv
(Putin should skip ahead to where he kills himself in the bunker.)
To: kosciusko51
Same rational should be extended to overtime.
People work 40+ hours of overtime, and they should see 100% of that money. It should be exempt from ALL tax, federal, state and local.
To: Svartalfiar
You maybe missing the part that it’s a transaction between two people, it is a TIP, not a payment to a company, or for a service, it is a thank you, or you could even call it a Gift.
Each year I am allowed to gift money up to 18k to any person I choose and guess what, they do not pay taxes on the gift. Why then is it different for those who rely on tips.
Again, our tax system is so completely horrendous, it is appalling the more you know of it. It is weaponized when convenient, it is leveraged for compliance, it is literally impossible by design to not break in some way. Lots of Atlas Shrugged quotes come to my mind here.
54
posted on
06/24/2024 4:15:21 AM PDT
by
light-bulb
(Plures efficimur quotiens metimur a vobis; semen est sanguis Christianorum)
To: Sam77
To: kosciusko51
Tips and bonuses are presently taxable because they are payment for work well done. Neither are gifts because, according to a court case whose name I have forgotten forty years after law school, the money is not given with “detached and disinterested generosity.” You only give tips to those who have served you. Now, if you go into a restaurant, for example, and give every server $100, those would be gifts and not income. But that is not how it works. Trump’s proposal not to tax that income, is politically brilliant.
56
posted on
06/24/2024 4:25:37 AM PDT
by
NCLaw441
To: FreedomForce
* I wonder if anyone has made the argument that tips are gifts not income.*. Yes, that argument was shot down by the courts 40 plus years ago.
57
posted on
06/24/2024 4:27:58 AM PDT
by
NCLaw441
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-57 last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson