As a person who works in the bar/restaurant for over 25 years, almost everyone must report tips. In some states people that work for tip have their minimum wage reduced because they get tips. Also almost everyone uses a bank and they deposit those tips into the bank. So there isn't the issue about providing proof of income. Cutting the tax on tips or gratuity is a great thing to millions of people. TRUMP 2024!!!
So... make sure there are enough republicans in congress and senate to get passed. Otherwise guys like this who are paid to be negative will keep right on talking.
Tips shouldn't be taxed, it's basically a gift specially if service was great. If you were a server, and someone gives you a generous tip, would you like Uncle $am to reach in your pockets asking you where's the rest of it?
Tips: they are shared by bartenders, table servers, buses, cooks, and hosts - BUT, the distribution is not equal; and table servers will tell you that it should not be equal because they are selling the menu items. Forever and a day this system has been worked out internally. What should happen is that all of the other restaurant staff should receive a higher base wage. As to taxing tips, remember that it is a gratuity. The servers are being paid an hourly wage. If a customer wants to tip, it is a gift of appreciation - that's why it is called a gratuity. Lots of people tip their postman and garbage collector at holidays. Some folks tip delivery people or leave a basket of drinks & snacks on the porch. Want to tax that? Heck, I bring my dentist a bottle of wine and leave a box of chocolates for nurses when I visit someone in the hospital. Want to tax that too? Let the servers keep their tips.
Define "livable wage." Does it include two all expense paid trips to Disney World and Universal Studios every year? Does it pay enough to allow you to hire a landscaper and eat out every day? Does it pay enough so you can afford cigarettes, alcohol, lottery tickets and recreational drugs? Define it.
Do some real journalism. Trump introduced this in 2017 but it was shot down because it gave owners complete control over how tips are distributed. They could even keep it all for themselves. It’s another grift.
Congress has to approve it. In 2017, Democrats controlled Congress and they don't want people to have money. Now The Republicans control the House and possibly the Senate so this could become a reality.
Let's not force any person to pay taxes at the federal level like it was until we insituted the income tax. Repeal the 16th amendment, prohibit taxes on income, capital gains, savings. Have a consumption tax. Persuade foreign companies to establish operations here. If blue states want high taxes then they could have them. If someone thinks they don't pay enough taxes then they could write a check to the government.
This is a direct raise for low and mid workers without being a government handout out. Millions depend on tips. This would be a great thing and really does not hurt the country at all, it is just chump change to the US treasury but could lift people up a notch.
I have questions for Ed O'Keefe. Why is he saying Social Security and Medicare are funded by taxes on tips? They're payroll withholdings. Also, the elimination of any personal income taxes is a step in the right direction. Low wages and regressive taxes actually hurt the consumer market. 40% are working poor or in poverty; they can't afford to participate in economic activity that creates robust demand for our goods & services -- even if we hadn't offshored our manufacturing base. It's just math: poverty creates no demand! It's a real problem because Americans have been conditioned by the advantaged class to value cheap prices over a thriving economy. The only way to balance the economy is to eliminate personal income taxes on wage earners and require employers to pay a living wage. Stiff tariffs should be imposed on companies that don't employ the U.S. labor force to reverse the damage that's been done by the offshoring of American manufacturing jobs.
We did not offshore most of our manufacturing All things valuable and/or heavy enough are made right here in the USA. Yes generic pharmaceuticals are made in China but all the advanced ones are made in Raleigh NC, for example. We make the most advanced semiconductors in the world and we do not even export them.
The tip income could be tax exempted, but still reported on tax forms same as tax exempt municipal bond interest. A compromise might be they would still have to pay into social security. We should keep the tipping system rather than a high wage to, as Dr. Samuel Johnson put it, to Insure Prompt Service. (T I P S).
@@LeafEater607You have a problem with Americans gaining jobs? You have a problem with not relying on foreign countries for certain items? I think we need to buck up and start relying on ourselves and taking care of our country. Why would you have an issue with that?
Wait, if the server’s tips aren’t taxed, how will we ever know what they make so we can control them? What a sillly conjecture. Their tips will be theirs to deposit into a bank like a normal citizen. They will be taxed on their wage, and that’s that
Trump wants to eliminate all income taxes and replace that with tariffs, so some really good inflation of bills should really help those tips.. good luck with that!
According to the tax foundation website, Trump's proposed tax policies are to reduce corporate income tax by 1 percent, remove taxes from tips, and make the 2017 tax cuts permanent. It is true that sometimes Trump discusses extreme solutions to problems with experts, but much like the ideas of injecting bleach or nuking hurricanes, he doesn't actually have any plans to do this.
He says how you proof you made money; well this is very easy. When you get paid your paycheck it will show your credit card tips plus hourly wages like it always except you keep 100% of your tips and are only taxes on hourly wages.
Trump has already stated he's going to eliminate the income tax. So no one has to pay. According ot the IRS, the average American will save over $1,200 a month. Use that for rent, buy a home, or retirement.
I say we eliminate tips, but ONLY if we force every server to sign a deal, that they will NEVER accept tips again.. and then, we the idiots find out they make LESS money on an hourly salary.. we reduct their hourly wage by a nickel every time they complain. We told you folks its dumb and you make more money, but if you want to lie and pretend you "only make $2/hr", then lets get that in writing with some teeth.
Harder to prove their income fear is so dumb. A lot if not most tips are on card which are given in your paycheck. So you have your W2 to show buying power and lets say you get a lot of cash all you need to do is deposit that money into your bank so your loan officer can justify the buying power.
Zero taxes on everything I am tired of paying taxes for politicians to mooch off of the people.zero government taxes for life 💯 only Way I will vote in 2024
So you are saying all these taxpayers are committing a felony tax evasion and can be jailed for 20 years or more. By Trump legalizing what they are already doing, they can now live in peace knowing their homes won't be raided. Knowing they won't be jailed for not reporting tips. Knowing they won't be seperated from family. Trump is giving them FREEDOM. Thats worth a lot.
@@lt1856 yes card tips are another story. We try to carry enough cash to leave a cash tip even if we use our card. I pay my barber and any casual labor in cash as well. If I can’t write it off I figure why make someone else pay any unnecessary taxes. People like me are one of the reasons the fed wants to do away with cash.
The employer would save money as well as they too pay taxes on the tips that are received via Credit cards. So it's a huge win for them which I would hope would help reduce prices and bring more people in the door since the economy is so jacked up.
This would help working class people so much! Republicans definitely the party of working people. Democrats the party of Beverly Hills, Martha's Vineyard, and Silicon Valley.
If tips were no longer subject to tax, they would become more like gifts rather than service charges. What obligation is there to always give a 15% to 20% tip then? If the service charge were not taxed, many customers would likely reduce or eliminate their tips, ultimately resulting in a decrease in income for service workers such as waitresses and waiters.
There is no obligation to give a tip, never was and never will be. If it is coerced payment it is not a tip. It is like Bill Clinton's "paid volunteers."
I haven't carried cash with me for years. Neither do the majority of people in the country. Service workers probably make less money in cash tips than you think they do.
@@standyw giving people more money to spend adds heat to the economy. people buying more stuff, means more stuff needs to be made. if there is a lack - then the seller can charge more, stuff gets more expensive
It's sound good and dandy about not paying taxes....But Trump and these RebekaSage ain't telling them the BAD PART OF NOT PAYING ANY TAXES....During the time when you gotta file your Taxs Return, "I GARENTEE THESE BARTENDERS, WAITERS. WAITRESS INSTEAD OF GETTING MONEY BACK FROM YOUR. TAXS RETURN FROM THE IRS, YOU GONNA HAVE TO PAY BACK TO THE IRS FROM $1500-.$2000.......
I don't get the logic. If you pay $0 in taxes and do your tax return and it shows you owe $0, why is the IRS going to come after them for $1500 to $2000? Doesn't make sense.
It’s very simple the money you get from Tips you use as cash you purchase all the things you can pay for in cash. You do not put it on a credit card leave that money in the bank or wherever you keep it so you can prove that you have the money, if you receive cash, you spend cash that’s all everybody knows that stop making it complicated
Went from Wasing Dishes to Line Cook, To Egg Man at Hilton International to Gormet Cook(Chef?, Cook). Worked with With Many Waitresses, Others That Were Taxed on Tips, Weather they made them or Not, Not Everyone Tips. Although they Had to Pay Tax on Tips They may not even have Gotten, When They Went For a Loan, That Income Didn't Count, This Was in the Seventies, Never Thought it was Right. Glad Trump is Doing This. Won't Help Me, But Helps those Working. Still Working, Just not for Tips. 😮
Many tips are in cash. There's no way to regulate it to begin with. If waiters at a fine restaurant is making over $100,000 it's not fair to the people making minimum wage who still have to pay taxes. Federal taxes should be waived for social security, child support, people making less than $30,000.
Or.. those who work for taxable income, can switch jobs and earn non-taxable income. Simple solution. But not to worry, Republicans are always working to remove taxes from everything else also. Unfortuantely, majority of Americans LOVE paying taxes and giving their money away. Why they vote democrat.
Every service employee who gets tips already knows the amount they need to report on paper to keep just in the clear. It's all gravy after that already.
Eliminate automatic tipping. 20% for what? No. Did he just say taxing is good for you? Done for you? So you can prove your income? lol Ya can't make it up.
What the guy is saying is you could prove less taxable income on the tax return as a proof for purchasing property. However, he does not mention that there will be more cash in that taxpayer as less tax is payable, so indeed more real purchasing power of the taxpayer and you do not need more loans indeed.
Except one thing... many people that work with tips, dont report it.. So therefore,, with no tax, they can start to qualify for rents, homes, cars.....
I'm not sure if he could do this strictly by executive order but nonetheless this is actually a really great proposal, I literally just talked to someone less than a week ago who struggled to meet income requirements for rent because her husband couldn't prove his tipped income. This has to be the first actual policy proposal I've seen from Trump besides "crooked Joe blah blah blah border invasion etc", I'm actually shocked. He can't have come up with it himself.
Yeah, because taking more from the people who are paying the majority of taxes in the first place really creates the incentive to keep their companies in the country and to create more jobs. 🙄
Trump did that. Trump passed a tax on bilionaires that forces them to pay taxes on "unrealized" gains. Hahahah. Billionaires paying taxes on money they haven't gotten yet. Some of them have sued Trump for doing that. Biden on the other hand, has promised to not renew the tax cuts Trump gave the poor.
@@chrislockwood5299 That’s BS & U know it ~ When they Gave the Corporations Money in the last Stimulus ~ they bought back their own Stock to increase the Value of it ~ They Didn’t buy more machines or Hire more people. All trump Brand Products are ( Made in China ) and Next it will be India ~ Vietnam. People already Cry about inflation ( Won’t pay more for Made in America )
@@michaelWells-ef9bx Going with the headline of that New York Times article? If you actually looked at the entire article, near the bottom it discussed the millions of dollars that Trump has paid in taxes.
I've not see any other politician promising to remove all your taxes. According to the IRS that will give the average American $16,000 a year more income. Thats about $1,200 a month one can save and invest in a home or retirement. Thats HUGE. On the other hand, the other candidate has promised to raise taxes to the highest levels in 111 years. If you believe paying $1,000 more a month instead of getting $1,200 a month, then I guess you proved 81 million is stupid.
@@ras9875 Tip shouldn't be taxed it's basically a gift specially if service was great. If you were a server, and someone give you a generous tip, would you like Uncle $am to reach in your pocket asking you where's the rest of it? 🤡😹
Well, he did get it started in spite of democrats fighting him every step. And he got a better trade agreement with Mexico while getting them to remain in Mexico.
@@nathanb7281Better trade agreement with Mexico and got Mexico to hold migrants on their side of the border. How much do you think it’s costing us right now paying for these illegals to be in our country? So, in a way, Mexico did pay for it. I guess it’s pretty hard for people who think like literal teenagers to comprehend something like that?
Yeah, I am sure that this time for sure he isn’t lying. How are you enjoying your better than the ACA healthcare? But hey I am sure someone who would lie to voters about the integrity of our elections would ever lie to voters about this.
Because it’s that easy? How do you build affordable housing when interest rates, material and labor cost is so high? Government involvement only makes it higher.
