So I have been reading posts and don’t see a lib agreeing with anything. Is there anything?
I’ll start with two things Trump said.
Trump proposed eliminating taxes on waitress tips, overtime, and SS. Libs always complain that the middle class get no breaks, but what about working overtime? Those are hourly jobs, held by poor, working class and some middle class. Retirees also have limited incomes. What happened to giving a break to these people?
I will play. First, taxes on tips.
I got to hand it to you. If you are a server, and you are paying federal income taxes, then you are a power server in a damn good spot. Few and far between. Been there, done that. But what you do pay, and your employer pays, is FICA, the social security and Medicare tax. And it is paid on tips. The IRS keeps records of credit card tips, match it to the individual. And the restaurants are required to "allocate" at least eight percent of a server's sales as tips. Even with tipout requirements, still eight percent. That is what those Social Security taxes are based on, that is what the employer pays his share on. That is what the server's retirement, disability, and survival benefits are based on.
Poof, if it is not taxed, that record keeping goes away. Two things happen. First, the server loses those benefits. Gone, poof. But second, the restaurant no longer has to pay their share of those FICA taxes. Who wins here?
Then there is overtime. Talk about Lucy jerking away the football. No taxes on overtime, sounds great. But with planned changes in overtime rules, only the lowest paid workers will even qualify for overtime, they don't pay federal income taxes anyway.
Then Social Security. I admit, there is a problem, the triggers were never indexed for inflation. But the revenue from those taxes is important. Just adjust the triggers, the wholesale elimination of that revenue benefits only the highest income earners.