No Tax On Tips – Now Social Security – What Is Next?
This is very similar to the “no tax on tips”. They are both proposals that purports to be directed toward a disadvantaged class, but will really only help the more advantaged members of the class like the servers in high-end steak house or in the case of senior citizens people like me or even more the older CPAs who are determined to die with their boots on.
No Tax On Tips – Be Careful What You Wish For
I frequently do an “Other Coverage” section on my posts, but I wouldn’t know where to start on this topic. I will note though that I have not found another article where somebody ran numbers on the effect of the various legislative proposals. Reilly’s Sixth Law of Tax Planning – Don’t Do The Math In Your Head.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.