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.
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.
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
It’s even worse than that. These tips have to be given after the fact, and they can’t be promised in writing, and the high budget ones are given between people who are trying to get as rich as possible at everyone else’s expense. So, why would I give you a ton of money for some past action when I don’t have to, when I’m greedy and there’s no agreement on paper? Clearly it’s only because I expect to work with you in the future, and I want you to hook me up then. In other words, these high-value tips are actually bribes for future favors.
