tdubel
Lieutenant Colonel
- Joined
- Jan 18, 2007
- Messages
- 7,401
My last post on this subject as I am sure it is boring to others, it is boring me. That said, this article is complete crap. First, let's talk about tip income. FACT - 50% of tip income is unreported in the restaurant industry - nearly all cash tips go unreported. SO, to me, any tax benefit someone gets as a result of tips is a BONUS. Normal W2 employees regardless of their salary are NOT getting that break. SO , I am sorry, I cannot feel sorry for someone who didn't get as big of a windfall as they hoped. Jeez.How Trump's tax law boosts the wealthy and leaves behind some workers he promised to help...
How Trump's tax law boosts the wealthy and leaves behind some workers he promised to help
President Donald Trump pledged “no tax on tips, no tax on overtime, no tax on Social Security.” For some who are filing their taxes this year, the reality is different.www.nbcnews.com
Second point - notice the use of "tax on wealth" in the article. We do NOT have a tax on wealth, we have a tax on earnings. If you have already made the money and it has been taxed, why on earth would you want to pay it again??? If I have a $1M in the bank, I don't plan on paying tax on it as I spend it nor should I. This article is just plain rabble rousing crap from a national news organization. IS anything printed fact-checked anymore? I don't think so.
Tom