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.

  • ironsoap@lemmy.one
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    1 month 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.