Independent thinker
Diamond Member
- Oct 15, 2015
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Then again I didn't actually hear anybody mention how he was going to do that and I watched the video twice to make sure that I didn't miss anything. Didn't he also promise to eliminate tax on tips too?
Admittedly I forgot about those things since I was more focused on the other campaign promises that he hasn't been keeping. Don't get me wrong, this was a great speech and I really hope that Trump's able to pull it off two years after the fact, but we'll just have to wait and see. Currently, I'm not holding my breath.
I guess that it's also possible that the democrats could be standing in his way too but....
Tax laws and the tax code didn't allow Trump to remove federal taxes on Social Security so they came up with an extra 6K deduction which was a workaround, which did close to the same thing. But, I think that only goes for four years and ends, unless Congress extends it. No taxes on tips didn't go down exactly as planned either although I don't remember the fine details of that. Also, we had no taxes on overtime but that only applies to the actual extra in overtime, not the base amount. Say, you make $20 per hour so overtime would be $30 per hour. So, what doesn't get taxed is the extra $10 per hour but the regular rate of $20 per hour is still taxed, even if they are overtime hours. All of these laws can get complicated.
