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

[jk7707]

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.

Concession noted.

 

[ShadowRun]

Concession noted.

That's what I thought, run along as always.

 

[ShadowRun]

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.

The same thing that stops your from writing you business lunch as a write off, meanwhile you took a girl out on a fancy date...

Sure it would be taken advantage of, by those who don't deserve or need it and by those who does. The who does matter more.

 

[jk7707]

That's what I thought, run along as always.

What's that moron?

71 percent of Trump voters oppose Medicaid cuts: Poll

 

[avenue94]

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.

EITC happens at the same time that exempting taxes from tips happens (when you file, unless your employer is withholding for you). What overhead and admin work does it entail?

The government can also pay the EITC up front or ahead of time, which is even faster than exempting tips from income tax. That's what some jurisdictions used to do.

 

[Deleted member 577981]

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.

any idea when it will be passed? this is life changing for me personally. I pay nearly 30% in taxes...

 

[avenue94]

The same thing that stops your from writing you business lunch as a write off, meanwhile you took a girl out on a fancy date...

Sure it would be taken advantage of, by those who don't deserve or need it and by those who does. The who does matter more.

And yet we both know that happens all the time. So again, how would you write out that exemption so it only applies to service workers?

 

[Kingz]

any idea when it will be passed? this is life changing for me personally. I pay nearly 30% in taxes...

Can’t say exactly but reports are estimating about a month. They’ll merge it with the senate bill which is more immigration focused, iron out some details, cross the t’s and dot the i’s, and there might be some democrat obstruction because they hate elderly and working class people saving a little bit of money but no major changes..and then Trump signs it into law.

 

[GreatSaintGuillotine]

Well that's nice. It'll get abused by the rich as always but at least there's some benefit across all levels with this

 

[Deleted member 577981]

Can’t say exactly but reports are estimating about a month. They’ll merge it with the senate bill which is more immigration focused, iron out some details, cross the t’s and dot the i’s, and there might be some democrat obstruction because they hate elderly and working class people saving a little bit of money but no major changes..and then Trump signs it into law.

its going to help me personally in a big way BUT there are TONS of very wealthy people who are going to be able to restructure their taxes as tips and stop paying into the system. if the republicans were doing this for poor people whey would exempt those loopholes.

 

[jk7707]

its going to help me personally in a big way BUT there are TONS of very wealthy people who are going to be able to restructure their taxes as tips and stop paying into the system. if the republicans were doing this for poor people whey would exempt those loopholes.

Going to be a shocker, but...They don't give a shit about poor people. This bill literally weakens the social safety net in order to give rich people bigger tax breaks.

 

[Dalarna3]

Absurd that SS would be taxed in the first place

 

[Substance Abuse]

You fucking morons only read headlines.

 

[Misfit23]

Huge Medicaid cut and 4 trillion in tax cuts? So much winning by the Repubs. Well done. Take that poors.

 

[NastyNinja]

Can't wait to see this take effect instantly like firing people.

 

[Seano]

Every single democrat voted "fuck your overtime, fuck your tips fuck your social security" while spamming X and other social media sites with how Trump is going to take away social security.

 

[Seano]

What did income tax originally replace.

They don't like that answer.

 

[Michaelangelo]

Who’s the one republican that voted nay? Has some balls to go against his entire crew.

 

[pugilistico]

How the hell is SS taxed in the first place? Like, it’s literally paid for by taxes to begin with. And then we tax the payments?

Tax the payment of tax and then tax the payment of that tax!

 

[curryjunkie]

The new Republican Party led by Donald J Trump and JD Vance is the greatest friend “the working man” has ever had.