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Trump's "No Tax on Tips" idea is just another scam. When you look at the fine print of Ted Cruz's bill enacting it--it would give NO tax cut to someone making $28,000. But hedge fund managers, lawyers etc can convert their fees into "tips" and get giant tax breaks. Ted Cruz's "No Tax on Tips Act" gives a far larger tax cut to hedge fund managers, lawyers, and other high-income people who recharacterize wages as "tips" to get a 0% income tax rate Tax cut from "No Tax on Tips Act" for a married couple (2024)

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Trump's "No Tax on Tips" idea is just another scam. When you look at the fine print of Ted Cruz's bill enacting it--it would give NO tax cut to someone making $28,000. But hedge fund managers, lawyers etc can convert their fees into "tips" and get giant tax breaks. Ted Cruz's "No Tax on Tips Act" gives a far larger tax cut to hedge fund managers, lawyers, and other high-income people who recharacterize wages as "tips" to get a 0% income tax rate Tax cut from "No Tax on Tips Act" for a married couple (2024)
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Kailee ♾️ Voting is your right (skykiss@sfba.social)'s status on Sunday, 21-Jul-2024 10:58:22 JST Kailee ♾️ Voting is your right

Trump's "No Tax on Tips" idea is just another 𝐒𝐂𝐀𝐌.
When you look at the fine print of Ted Cruz's bill enacting it--it would give 𝗡𝗢 tax cut to someone making $28,000.
Trump’s Project 2025 enables lawyers to classify their fees as tips and get huge tax cuts. Meanwhile, he’s proposing to cut social security and Medicare for waitresses and restaurant workers who actually need tax breaks.
But hedge fund managers, lawyers can convert their fees into "tips" & get giant tax breaks.
Trump and his cronies of Project 2025 will destroy democracy. Here's a tip: stop voting for fascists.
#2024Election #election #election2024 #vote

In conversation about 4 months ago from sfba.social permalink