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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Trump is calling for no tax on tips, no tax on overtime, no tax on Social Security and a longer term goal of no taxes on first $150 k of income.[/quote]

All sound like fine ideas, however:

Almost no one reports tip income anyway, and this will also cause people who do pay taxes to really stop tipping. People will say, why give my after tax dollars to someone who won't pay taxes themselves?

No tax on OT means people will start working themselves to death to get OT, and employers, who already try to limit OT because it costs them, will limit it more by making everyone part time. Employers hate OT. This pattern is common.

Social Security: Democrats have been proposing this for years AND have proposed ways to pay for it. Republicans shut it down every time. So he'll have to get it past the Republican controlled Congress (but he has not proposed a way to pay for it). Also the average SS payment in the U.S. is $1,783.55/month. These people already do not owe taxes on Social Security. About half of Social Security beneficiaries paid no tax; about half pay tax on half of their benefits, with beneficiaries with higher incomes paying taxes on up to 85% of their benefits. This proposal helps about half of the higher earning SS recipients. So not taxing social security will be popular, but we'll see if Republicans pass a Democratic party platform idea, and if they pay for it.

On the $150 issue, I won't hold my breath on "longer term goals" used to buy votes, but never happen. Also, unless they find a way to pay for it that means taxing the very rich, this will mean the working upper middle class and the middle class in high COL areas get slammed again. Also, consider the form of government we will have if 76 percent of the population pays no federal income tax, plus the very wealthiest also not paying much if any.[/quote]

Nobody thinks of the unintended consequences. Wait till women start dying in childbirth. Or, people die of cancer because they can't afford price gouging. [/quote]

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