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submitted 10 hours ago* (last edited 10 hours ago) by just_another_person@lemmy.world to c/politics@lemmy.world

This is worth a read if you're unfamiliar with how Trump's "no taxes on tips" proposal has been used by organized crime, corporations and the wealthy in the past to skirt massive amounts of taxes.

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[-] originalucifer@moist.catsweat.com 51 points 10 hours ago

holy hell!

he wants to allow corporations and individuals to 'tip' anyone any amount , tax free

this is a tax avoidance scheme of the grossest kind

[-] ironsoap@lemmy.one 14 points 8 hours ago

Harris has said that she wants legislation implementing the tax cut to only apply to the people we traditionally think of when we think of tips: waiters, maids, caddies, and other service-industry customer-contact workers.

Trump, on the other hand, has refused to limit his no-tax-on-tips proposal to such workers, opening up the possibility that big banks, insurance companies, hedge funds, and other companies that traditionally have paid year-end bonuses — sometimes in the millions or even hundreds of millions of dollars — could simply reclassify their bonuses as tax-free tips.

**Adding to the confusion should Trump’s plan go into place, the Supreme Court earlier this year expanded the definition of tips when they ruled that if politicians or judges are paid bribes, but the payments are made *****after ***the politician or judge does the requested favor, they’re no longer bribes but, instead, merely tips.

Jesus H. f#$k Christ, let's not normalizing bribes.

[-] BrianTheeBiscuiteer@lemmy.world 12 points 8 hours ago

That opener make me want to shit on Reagan's grave. I'm starting to think if he was alive today he'd endorse the Orange One.

[-] Evil_incarnate@lemm.ee 9 points 8 hours ago

I would tell my employer that I will work for free, as long as I get $x as a tip each month.

Tax fee income.

[-] MediaBiasFactChecker@lemmy.world -2 points 10 hours ago

Raw Story - News Source Context (Click to view Full Report)Information for Raw Story:

MBFC: Left - Credibility: High - Factual Reporting: High - United States of America
Wikipedia about this source

Search topics on Ground.Newshttps://www.rawstory.com/raw-investigates/trump-tipping/
Media Bias Fact Check | bot support

this post was submitted on 12 Oct 2024
87 points (100.0% liked)

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