It won’t actually make much difference… some huge percentage of tips never get reported and taxed in any case. It also treats the symptom instead of the problem. I have no problem with incremental improvements, but this really doesn’t improve anything. You’ll also find rich people now ‘tipping’ huge sums, so it will be a net negative.
Most of my gf’s money comes from tips and it’s setup to make it very hard to not report tips without getting fired and she would bring in quite a bit more money without being taxed on it
Instead of ending taxes on tips, expand the lowest tax bracket, pay a living wage, and get rid of tips entirely.
Sounds great, but probably not gonna happen so why not have the next best thing and let people keep more of the money they make
It won’t actually make much difference… some huge percentage of tips never get reported and taxed in any case. It also treats the symptom instead of the problem. I have no problem with incremental improvements, but this really doesn’t improve anything. You’ll also find rich people now ‘tipping’ huge sums, so it will be a net negative.
Most of my gf’s money comes from tips and it’s setup to make it very hard to not report tips without getting fired and she would bring in quite a bit more money without being taxed on it