This is an awful policy. Want to give a tax cut to working people? Raise the standard deduction by a few thousand and bump up the taxes on the highest bracket by a bit (or preferably a lot). That will give a cut to untipped hospitality workers as well.
You don’t need both. Raising the standard deduction will already remove the taxes on any tips (+ wages) made that are beneath the new deduction limit. It’s just that everyone else who relies on wages will get the same benefit. I agree that minimum wage exceptions need to go.
This is an awful policy. Want to give a tax cut to working people? Raise the standard deduction by a few thousand and bump up the taxes on the highest bracket by a bit (or preferably a lot). That will give a cut to untipped hospitality workers as well.
Why not both? And while we’re helping the working poor, eliminate minimum wage exceptions for tipped workers altogether.
You don’t need both. Raising the standard deduction will already remove the taxes on any tips (+ wages) made that are beneath the new deduction limit. It’s just that everyone else who relies on wages will get the same benefit. I agree that minimum wage exceptions need to go.