The devil is in the details. The tax free tip plans republicans propose also bleed over into Wall Street. They can write off some of their income as tax free tips. Democratic proposals don’t include the same stuff as Republicans. Ted Cruz tried this a while back:None of these politicians can claim credit for any of those changes. No tax on tips is already a thing in multiple states and has been floated at the federal level for decades. Child tax credit is a recurring idea that generally Democrats want to expand and Republicans want to kill. For either side to claim "credit" for decades-old legislative efforts as their "idea" is preposterous in the extreme.
Fact is that's a big concern I have with both sides in this one, no new ideas.
Nevertheless, the No Tax on Tips Act is deeply flawed; it would leave out the more than 95 percent of low- and moderate-wage workers who are not in tipped occupations. And in many cases, the tax cuts it would provide low- and moderate-wage tipped workers would be small or nonexistent. This is a much worse approach to lifting working families than the American Rescue Plan’s enhancements to the earned income tax credit (EITC) and child tax credit (CTC), which the Biden administration and congressional Democrats such as Sen. Sherrod Brown (D-OH) have proposed making permanent. A single parent with one child making $19,000 in tips and $5,000 in wages, for example, would receive no tax cut from Sen. Cruz’s bill—as shown in Table 1. The restoration of the American Rescue Plan’s CTC expansion, on the other hand, would give them a full $1,090 tax cut.
At the same time, the No Tax on Tips Act contains few, if any, guardrails to prevent high-income professionals such as hedge fund managers from shifting their compensation to a tax-free tipping model. Given the difference in tax rates, the tax breaks from exempting part of these high earners’ income from income taxes would be far larger than any tax breaks for lower-income workers. For instance, a married couple making $1 million in wages could get a tax cut of $180,000 by shifting half of those wages to tax-free tips.
Sen. Cruz’s bill attempts to cover for the regressivity of the 2017 tax law but opens the door to even larger tax cuts for the wealthy.
But of course. Why am I not surprisedThe devil is in the details. The tax free tip plans republicans propose also bleed over into Wall Street. They can write off some of their income as tax free tips. Democratic proposals don’t include the same stuff as Republicans. Ted Cruz tried this a while back:
As usual, I have the receipts
Yeah but Fox isn't really a news outlet. It's barely more legit than the Babylon Bee or the Onion at this point.News outlets should not be “sane washing” the lunacy that Trump delivers….
![]()
Fox News accused of 'sane-washing' Trump's incoherent 'word salad' rants
Donald Trump keeps going off-script in bizarre rants during his rallies and speeches - but many news outlets claim he's 'focused and consistent'.www.the-express.com
Sane-washing is a great term. Been going on for a long time at Fox News.News outlets should not be “sane washing” the lunacy that Trump delivers….
![]()
Fox News accused of 'sane-washing' Trump's incoherent 'word salad' rants
Donald Trump keeps going off-script in bizarre rants during his rallies and speeches - but many news outlets claim he's 'focused and consistent'.www.the-express.com
Yeah but Fox isn't really a news outlet. It's barely more legit than the Babylon Bee or the Onion at this point.
Dude's about two tweets/messages away from uttering Final Solution.I wonder where all the posters who were really concerned with antisemitism went? Nothing about this?
“Jewish governor.”
View attachment 17104
I’ve been assured many times on this website that democrats are the party of the corrupt billionaires and Trump is a warrior of the working class. I’m pretty sure his tax cuts hurt rich people and really helped poor people. Right?But of course. Why am I not surprised
Sent from my CPH2451 using Tapatalk
It's perception as much as anything else. Look at how you talk about "them". Look at you, othering just like the repubs are doing.I’ve been assured many times on this website that democrats are the party of the corrupt billionaires and Trump is a warrior of the working class. I’m pretty sure his tax cuts hurt rich people and really helped poor people. Right?
"Only 13 Presidents failed to get re-elected.Only 5 Presidents failed to win the popular vote.Only 4 Presidents have been impeached or resigned.Only 1 President has ever been criminally indicted.And only ONE President has done ALL FOUR.-DJT didn't lower your taxes (He deferred them)-He didn't get you that healthcare coverage-He did not unite the USA, he divided it-He didn't lower your prescription prices-Didn't get your roads or bridges built-He didn't decrease the deficit-He didn't end the opioid crisis-He made over 250 visits to his golf clubs costing us taxpayers $150 million-He didn't revive the coal industry-He didn't make covid-19 'disappear'-He didn't make Mexico pay for the wall-He is ranked the worst President in history-He added $2 Billion a month in tariff costs to the American consumer-He has a net-negative jobs creations for his administration-He decreased corporate taxes, passing the tax burden to the workers-He added $ 7.8 Trillion to the deficit - a full 25% of the total-He incited an insurrection against our government-He is the only president to never achieve 50% approval.-He didn't put "America first" and he sure didn't "Drain the Swamp...-He left office with the worst job numbers of any President since the Great Depression with a net job loss over his term-THE ONLY PRESIDENT TO BE CONVICTED OF A FELONY!"
It's perception as much as anything else. Look at how you talk about "them". Look at you, othering just like the repubs are doing.