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12 hours agoI have to imagine that many people living off tips aren’t making a whole lot of money, and consequently aren’t currently paying much fed income tax anyway. How much money are they really going to save from this?
I have to imagine that many people living off tips aren’t making a whole lot of money, and consequently aren’t currently paying much fed income tax anyway. How much money are they really going to save from this?
Bill who? Didn’t think he was relevant anymore.
I played around with incomes in the $25K-$50K range and came up with similar numbers to yours. Basically, someone in that range who makes most of their income from tips stands to save anywhere from $1K-$3K, which could be significant. As AOC pointed out though, that could quickly turn into a net loss if you lose Medicaid benefits.