Trump’s Tip Tax Gimmick
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Not much, not much coming out from the Trump camp when it comes to the economy. You know, outside of that preposterous tariff plan. We’ve also got the the Trump tip tax gimmick. Yeah, he was out in Vegas and he made the I guess he told some waitress there that, you know, vote for me and we’re going to stop taxing your tips.
Okay. Again, it’s made news. Trump’s good at that. Made news. Got people talking about it. I guess he was suggesting people write and waitresses and waiters and bartenders and anybody collecting tips and everybody seems to be collecting tips nowadays should be writing on the receipts, you know, vote for Trump. No more taxes on tips.
Again, this opens up a massive can of worms. If you’re not gonna tax the tips, correct me if I’m wrong, via our tax code, wouldn’t that make that a gift? And would that be a deduction, a full deduction for the person that gives the tip? And am I gonna have to start tracking that in a different way? Take all that aside, okay, like I said, it’s a gimmick.
It’s a gimmick. And quite frankly, Trump should be a little bit embarrassed because again, he brought this up during the, it was one of the big things he brought up when he had the meeting with the CEOs last week. Another story right now, similar type of a situation, a little different. The Treasury Department is going to be closing an asset loophole that could add billions to tax collections. Again, it’s how certain businesses, real estate,
companies, certain hedge funds can move assets from one entity to another, changing their basis and how they’re taxed. Okay. The whole problem is the damn tax code for crying out loud. Right. Rather than proposing gimmicks, fix it. How do you fix it? You get rid of it. You scrap the bloody tax code. You scrap it.
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It’s what 75, 80 ,000 pages long. There’s not a single person on the planet that understands the tax code. Not one. Not possible. Not one. And I’m going to tell you why that’s not going to happen. It’s not going to happen because this is how politicians wield power. I describe this years and years and years. I describe the tax code and also the federal registry as well. Like, you know, Superman.
superhero, he gets all of his power from our son, the yellow sun’s rays, that’s where he gets his power from. Politicians, people in Washington DC, they derive their power from the tax code and from the federal registry. Carbouts, handouts, giveaways, I’ll do this for you, I’ll put this loophole in, you cut me a check, whatever it may be, that’s where their power comes from. This is nonsensical, it really is.
They just keep adding pages, just like they keep adding pages to the federal registry for crying out loud. I mentioned it not too long ago. We’re talking about, you know, how on any given day, how easy it one could be a felon here in this country just by accident without even knowing based upon all the stupid rules and regulations we have. And the tax code is one of them. Tax code is one of them. Again, you know, it’s a gimmick. I God willing, I hope that Trump does a little bit better.
at the debate next week and coming up with ideas, then crap like this. I know, again, he’s trying to, you know, he’s trying to kind of see Biden as far as young workers are concerned and saying, hey, hey, hey, you know, Joe’s, you know, the student loan forgiveness. Well, you know what, you know, you’re working at Starbucks, we’re not going to tax your tips there anymore. Yeah, this is, you know, high level thinking here from two presidential candidates.
Pathetic and sad, quite frankly, if you ask me. Watchdog on wallstreet .com.
