Economy "No taxes on Social Security, Overtime and tips" just passed

[IDGETKTFO]

Never knew Social Security was taxed. I know Disability ( SSI ) isn't taxed.

 

[CantCucktheTuck]

Because exempting tips from taxes will be abused by higher income Americans. If you want to help lower income folks, expand the EITC or allow it to be frontloaded.

So in other words, your solution is “more of the same”. Um no….you can take a tax break on your labor, your’e not gonna increase my taxes just so you can redistribute even more to democrats.

 

[Zazen]

If democrats stopped fucking around and got behind a serious leader they could dominate the midterms. What an atrocious bill, republicans hate everyone but the ultra wealthy.

 

[Protectandserve]

If OT isn’t taxed it’s gonna legit save my finances. It would make up for getting massively fucked by child support

 

[avenue94]

So in other words, your solution is “more of the same”. Um no….you can take a tax break on your labor, your’e not gonna increase my taxes just so you can redistribute even more to democrats.

My solution would be expand or frontload the EITC. Why don't you tell me why that's a worse idea than exempting all tips?

 

[jk7707]

What a fuckin grotesque display of bread and circuses.

"Hey look poor people! We aren't going to tax tips and overtime anymore!"

While they simultaneously cut hundreds of billions from Medicaid and food assistance programs.

 

[nostradumbass]

Oh yeah, well democrats hired an army of new IRS agents to go through your venmo transactions in case you tried sell anything on facebook marketplace without giving them a piece of it. You're welcome, working class.

 

[ShadowRun]

You would start seeing lots of white collar folks attempt to claim some of their compensation as tips.

Not to mention a huge chunk of tipped workers don't even pay any income tax, and there are plenty of low wage workers who don't get tips

What advantage does exempting tips have over expanding the EITC?

What stats/ data you have to back up these claims ?

 

[Rob Battisti]

Maybe then pass a bill eliminating supplemental income tax too before I get my bonus next month.

#NoCaptialGainsTax

At least for us poors under $500k

 

[IDGETKTFO]

If OT isn’t taxed it’s gonna legit save my finances. It would make up for getting massively fucked by child support

This isn't fair to jobs that only get OT after 40 hours, especially lower hourly paying jobs where you make below the guidelines to qualify for assistance. Because your employer wont give you enough OT to make up the difference, and if you work OT you end up above the guidlines for that month and lose any assistance.

That said, its a start, but doesn't help the lower working class. How about anyone under a certain hourly wage not consider OT below a certain amount of hours. Basicly don't penalize lower working class trying to get a few extra hours without taking away their medical or food stamps.

Its insane they were giving illegal immigrants money/food stamp benefits and trying to cut hard working US citzens who work a minimum wage job benefits.

 

[PEB]

Social Security just going to drain it even faster.

 

[ShadowRun]

Oh yeah, well democrats hired an army of new IRS agents to go through your venmo transactions in case you tried sell anything on facebook marketplace without giving them a piece of it. You're welcome, working class.

Funny seeing the usual suspects try to piss all over this, when their candidate stole the idea and campaigned on it lol.

 

[jk7707]

These fuckin cowards are trying to hide behind some smokescreen, so they don't have to take responsibility for what they are going to vote for.

 

[jk7707]

Funny seeing the usual suspects try to piss all over this, when their candidate stole the idea and campaigned on it lol.

Are you this fucking stupid? No one has a problem with cutting taxes on overtime and social security.

What people have a problem with is using these issues to obscure their ultimate goal (in the bill) to cut taxes for the rich, and cut benefit programs for the poor to pay for it.

What Can House Republicans Cut Instead of Medicaid? Not Much.

 

[Deleted member 577981]

is this a sure thing? does anyone know when it takes effect? I can structure nearly all of my income as "tips" so its a big deal to me.

 

[avenue94]

What stats/ data you have to back up these claims ?

Which claim?

Funny seeing the usual suspects try to piss all over this, when their candidate stole the idea and campaigned on it lol.

You can criticize an idea consistently. In my case, at best, this is a really ineffective way of lifting people out of poverty that will most likely be abused by higher income folks. It's a bad idea on its own merits, especially when you have other options to help working close folks...like for the umpteenth time, the EITC.

is this a sure thing? does anyone know when it takes effect? I can structure nearly all of my income as "tips" so its a big deal to me.

Hopefully not since it would be a legal nightmare and as you pointed out, very likely to be abused.

 

[ShadowRun]

Because exempting tips from taxes will be abused by higher income Americans. If you want to help lower income folks, expand the EITC or allow it to be frontloaded.

Are you this fucking stupid? No one has a problem with cutting taxes on overtime and social security.

What people have a problem with is using these issues to obscure their ultimate goal (in the bill) to cut taxes for the rich, and cut benefit programs for the poor to pay for it.

What Can House Republicans Cut Instead of Medicaid? Not Much.

I bet JK stands for just kidding as you didn't read the thread... typical of you.

Avenue has a problem with it.

oh yea NYT I am sure it's a fair take. Medicaid $ accountably must be a horrible thing.

 

[Kingz]

is this a sure thing? does anyone know when it takes effect? I can structure nearly all of my income as "tips" so its a big deal to me.

Yeah, budgets only need a bare senate majority and Trump will sign.

The senate passed their own budget bill but Trump prefers the house bill so that will be the one that passes.

 

[ShadowRun]

Which claim?

You can criticize an idea consistently. In my case, at best, this is a really ineffective way of lifting people out of poverty that will most likely be abused by higher income folks. It's a bad idea on its own merits, especially when you have other options to help working close folks...like for the umpteenth time, the EITC.

Hopefully not since it would be a legal nightmare and as you pointed out, very likely to be abused.

Claim about not taxing tips helps the rich.

EITC is also good, but it's after you gave up your money already. It takes time and causes more admin and overhead work. I rather people not pay that amount in the first place. But I understand what you're saying, it's reasonable.

 

[avenue94]

I bet JK stands for just kidding as you didn't read the thread... typical of you.

Avenue has a problem with it.

oh yea NYT I am sure it's a fair take. Medicaid $ accountably must be a horrible thing.

Writing a tax exemption that would apply to only service workers is nearly impossible. For example, what's stopping me from running a consulting business or being a lawyer, where I charge a really low rate but "wink wink" tipping me a huge lump sum is the expectation?

This is the same silly policy making like Kansas, where they eliminated taxes on pass-through income and then suddenly the number of businesses using that tactic almost doubled in a year.