Thanks for sharing the report on "No Tax on Tips" policy, it has had my wheels spinning ‼️ It seems clear that making tips tax free creates a lot of unintended problems.
The well intentioned purpose of this policy seems to be to increase take home for paid workers on the lowest end of the income spectrum and attract more workers to hospitality jobs.
I'm that case, wouldn't policies like increasing the tax-free income bracket or increasing the Federal minimum wage accomplish those goals without discriminating against hourly workers without tips (like delivery workers), without reducing payroll taxes (for social security and Medicare), without encouraging higher wage industries to move to a tipping system, without shifting the wage burden directly to consumers, and without increasing tax enforcement issues? (All of these being potential consequences of the "no tax on tips" policy.)
Also, I am curious why individuals in favor of a "no tax on tips" policy would not support raising the tax-free income bracket or raising the Federal minimum wage. It confuses me when I see politicians currently supporting the "no tax on tips" policy that have historically not been supportive of increasing the minimum wage or reducing the tax burden on the lowest income brackets. So I'm left wondering what I am not understanding...
Oh my God, that article on guns being the golden calf and children its sacrifices? Whew... I am SO thankful for you and your voice. I wish people like you got more screen time than the clown show our news constantly shows.
Yes! Sunday rainy day catchup!!! The best!! ✅ ☕️
Thanks for sharing the report on "No Tax on Tips" policy, it has had my wheels spinning ‼️ It seems clear that making tips tax free creates a lot of unintended problems.
The well intentioned purpose of this policy seems to be to increase take home for paid workers on the lowest end of the income spectrum and attract more workers to hospitality jobs.
I'm that case, wouldn't policies like increasing the tax-free income bracket or increasing the Federal minimum wage accomplish those goals without discriminating against hourly workers without tips (like delivery workers), without reducing payroll taxes (for social security and Medicare), without encouraging higher wage industries to move to a tipping system, without shifting the wage burden directly to consumers, and without increasing tax enforcement issues? (All of these being potential consequences of the "no tax on tips" policy.)
Also, I am curious why individuals in favor of a "no tax on tips" policy would not support raising the tax-free income bracket or raising the Federal minimum wage. It confuses me when I see politicians currently supporting the "no tax on tips" policy that have historically not been supportive of increasing the minimum wage or reducing the tax burden on the lowest income brackets. So I'm left wondering what I am not understanding...
Oh my God, that article on guns being the golden calf and children its sacrifices? Whew... I am SO thankful for you and your voice. I wish people like you got more screen time than the clown show our news constantly shows.