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The Herald Scotland
23-05-2025
- Business
- The Herald Scotland
'No tax on tips' closer to reality after House passes Trump's tax bill
"A relatively small number of workers are going to see any significant tax savings from this proposal," said Joseph Rosenberg, a senior fellow at the left-leaning Urban-Brookings Tax Policy Center. Who qualifies for no tax on tips? The tax bill would create a temporary tax deduction through 2028 for employees and independent contractors in occupations that "traditionally and customarily received tips" - servers, for example. Should the bill pass, those occupations would be hashed out by the treasury secretary. Highly compensated workers who make at least $160,000 in 2025 would be ineligible. How much would tipped workers save through no tax on tips? Some tax policy experts have criticized the idea because of its limited scope. Kyle Pomerleau, a senior fellow at the American Enterprise Institute, a center-right think tank, said it would be an unfair policy. For instance, why should a restaurant's tipped server have access to more tax breaks than the untipped chef working in the kitchen? "It's good news for the workers out in Nevada, where there are a lot of tipped workers," Pomerleau said. "But you are isolating one segment of the population." Even tipped workers may find themselves ineligible for the tax break. The proposed tax cut applies only to income taxes, not payroll taxes. That means the estimated 37% of tipped workers in the country who didn't make enough money to face federal income taxes in 2022 would see no benefits from the proposal, according to an estimate from the Yale Budget Lab. "It is also going to do very little for workers, even that receive tips, at the low to middle part of the income distribution," Rosenberg said. The Tax Policy Center last year found ending taxes on tips would benefit about 2% of all households, or 60% of households with tipped workers, with an average tax cut of about $1,800 a year. Rosenberg said the analysis has not been updated since the tax plan was unveiled on May 12, but he expects figures to be similar. Another 2024 analysis from the Yale Budget Lab had similar results, finding an estimated 4 million tipped workers - 2.5% of the total working population - would benefit from no taxes on tips. The average tax cut for families who benefit would be roughly $1,700, while the bottom fifth of earners would save $200. How much will it cost to implement no taxes on tips? Overall, the tip provision is estimated to cost about $40 billion over four years, according to the Joint Committee on Taxation. It's a small fraction of the tax bill, which is estimated to add roughly $4 trillion to the deficit, but still a notable figure, according to Alex Muresianu, a senior policy analyst at the Tax Foundation, a center-right tax policy think tank. "If you're going to drive a hole in the tax base for no reason, you'd rather that hole be the size of VW Bug instead of a semitruck," he told USA TODAY. "But at the end of the day, you're still driving a hole in the tax base." Meanwhile, the Republican tax bill as a whole could cause low-income families to lose hundreds of dollars in after-tax income by cutting spending on programs like Medicaid and the Supplemental Nutrition Assistance Program, formerly known as food stamps, according to a new analysis from the Penn Wharton Budget Model. The top 0.1% of earners would gain $389,280 on average next year, but Americans making between $17,000 and $51,000 stand to lose $705 on average, according to the analysis, first reported by The New York Times. Those with an income of less than $17,000 would lose more than $1,000 on average, with losses worsening over time. Americans could be squeezed further if the tax breaks have employers and workers lean more heavily on tips, exacerbating post-pandemic tipping fatigue. Though the proposal has guardrails that would limit the ability to restructure pay, "certainly in tip-eligible industries there would be a tax incentive to shift income toward tax-exempt tips instead of taxable wages," Rosenberg said. Separate 'No Tax on Tips Act' passes the Senate The Senate on May 20 passed a separate bill, dubbed the "No Tax on Tips Act," that would create a new tax deduction on cash tips worth up to $25,000. Introduced by Sen. Ted Cruz, R-Texas, and brought up for a voice vote by Sen. Jacky Rosen, D-Nevada, the bill passed with unanimous consent. Highly compensated employees - or those who made more than $160,000 in 2025 - would not be eligible. The "No Tax on Tips Act" could prompt lawmakers to scratch the "no tax on tips" language in Republicans' tax bill. It would need the House's stamp of approval before becomes law. "Whether it passes free-standing or as part of the bigger bill, one way or another, 'No Tax on Tips' is going to become law and give real relief to hard-working Americans," Cruz said on the Senate floor. What happens next? Republicans' tax bill, dubbed the "one big, beautiful bill," heads to the Senate next, which has already signaled it plans to make changes. If the two chambers work out details capable of winning majority votes, it would then head to Trump's desk to be signed into law. Trump urged the Senate to work fast. "It's time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE!" Trump said in a social media post. Contributing: Riley Beggin
The Herald Scotland
18-05-2025
- Business
- The Herald Scotland
'No tax on tips' included in GOP tax bill. How much will workers save?
"A relatively small number of workers are going to see any significant tax savings from this proposal," said Joseph Rosenberg, a senior fellow at the left-leaning Urban-Brookings Tax Policy Center. Here's what we know so far about the latest proposal. Who qualifies for no tax on tips? The bill would create a temporary tax deduction through 2028 for employees and independent contractors in occupations that "traditionally and customarily received tips," likely servers, for example. Should the bill pass, those occupations would be hashed out by the Treasury secretary. Highly compensated workers who make at least $160,000 in 2025 would be ineligible. How much would tipped workers save through no tax on tips? Some tax policy experts have critiqued the idea because of its limited scope. Kyle Pomerleau, a senior fellow at the American Enterprise Institute, a center-right think tank, said it would be an unfair policy. For instance, why should a restaurant's tipped server have access to more tax breaks than the untipped chef working in the kitchen? "It's good news for the workers out in Nevada, where there are a lot of tipped workers," said Pomerleau. "But you are isolating one segment of the population." Even tipped workers may find themselves ineligible for the tax break. The proposed tax cut applies only to income taxes, not payroll taxes. That means the estimated 37% of tipped workers in the country who didn't make enough money to face federal income taxes in 2022 would see no benefits from this proposal, per an estimate from the Yale Budget Lab. "It is also going to do very little for workers, even that receive tips, at the low- to middle-part of the income distribution," Rosenberg said. The Tax Policy Center last year found ending taxes on tips would benefit about 2% of all households, or 60% of households with tipped workers, with an average tax cut of about $1,800 per year. Rosenberg said the analysis has not been updated since the tax plan was unveiled on May 12, but he expects figures to be similar. Another 2024 analysis from the Yale Budget Lab had similar results, finding an estimated 4 million tipped workers - 2.5% of the total working population - would benefit from no taxes on tips. The average tax cut for families who benefit would be roughly $1,700, while the bottom fifth of earners would save $200. How much will it cost to implement no taxes on tips? Overall, the tip provision is estimated to cost about $40 billion over four years, according to the Joint Committee on Taxation. It's a small fraction of the tax bill, which is estimated to add roughly $4 trillion to the deficit, but still a notable figure, according to Alex Muresianu, a senior policy analyst at the Tax Foundation, a center-right tax policy think tank. "If you're going to drive a hole in the tax base for no reason, you'd rather that hole be the size of VW Bug instead of a semitruck," he told USA TODAY. "But at the end of the day, you're still driving a hole in the tax base." Meanwhile, the GOP tax bill as a whole could cause low-income families to lose hundreds of dollars in after-tax income by cutting spending on programs like Medicaid and the Supplemental Nutrition Assistance Program, formerly known as food stamps, according to a new analysis from the Penn Wharton Budget Model. While the top 0.1% of earners would gain $389,280 on average next year, Americans making between $17,000 and $51,000 stand to lose $705 on average, according to the analysis first reported by The New York Times. Those with an income of less than $17,000 would lose more than $1,000 on average, with losses worsening over time. Americans could be squeezed further if the tax breaks have employers and workers lean more heavily on tips, exacerbating post-pandemic tipping fatigue. While the latest proposal has guardrails that would limit the ability to restructure pay, "certainly in tip-eligible industries there would be a tax incentive to shift income toward tax-exempt tips instead of taxable wages," Rosenberg said. What happens next? It's not yet clear what the final tax bill will look like. Hardline Republicans who wanted deeper spending cuts to Medicaid and a full repeal of green energy tax cuts blocked the measure Friday, despite Trump asking Republicans to "UNITE behind" the legislation in a social media post. The vote is likely a temporary setback, but it could delay plans for a vote by the full House, according to Reuters.
Chicago Tribune
18-04-2025
- Chicago Tribune
David McGrath: Mourning my sister Rosie with loved ones, I felt a spiritual rising
I recently bought a round-trip airline ticket, just like millions of other Americans traveling to Florida for spring break or Easter vacation. Except that mine was in the opposite direction, from Florida to Chicago, for the funeral of my sister Rosie. The Airbus was cramped, but a 40-something couple stepped into the aisle to let me into my window seat. The 1,200-mile journey, lasting three hours, was longer than usual because of a 100 mph headwind. But the woman in the middle let me have the armrest as she leaned forward for the duration while scrolling through her phone. It wasn't until we landed and she lifted the cage that had been under her legs that I realized she was traveling with a tiny dog. Not a peep from the little guy the entire time. After landing and checking into a newish Holiday Inn in Oak Forest, I turned on the television and dug my razor out of my suitcase to shave. There was a knock on the door, and I answered not wearing a shirt. The woman from the hotel desk stood smiling, holding out my phone, which I'd left in the lobby. I left the hotel at 3:45 p.m. to drive to the funeral parlor where the wake had begun. The streets, such as Cicero Avenue, were familiar, as I had lived on the South Side most of my life. I thought back to our childhood home for which I still had a framed picture of my sister Rosie at age 4, pushing me in a buggy when I was 3. When I saw my six other siblings together at the funeral parlor, along with Rosie's grown children, Jennifer and Mike, I steeled myself in the way men are expected. But I could barely speak while embracing my brothers James, Charlie, Kenneth and Kevin and my sister Nancy, who had driven down from Wausau, and Patrick, who had just landed from Phoenix. My old friend Orville, who had been my manager when Marianne and I worked at Jewel, came over, and we hugged it out. He said he was sorry, and we both lied about how we looked the same. Orv had briefly dated Rosie back in the day. When I thanked him for driving up from Crete, he said he considered it a 'rare thing' to have been a friend to every member of our family for five decades. Next, I was surrounded by five of the 12 Bracken kids who had lived one door down from us in Evergreen Park. Veronica and Annie were our babysitters, and Rita was Rosie's best friend whom I knew well from hanging with Rosie's crew when she and I were college classmates. They liked to pile into Rosie's 1960 VW Bug for a trip to Chicago's Chinatown and a certain spooky lounge with no cover charge. Among them was Marianne, who would become my wife, for which my sister was partly responsible. Walking to the front of the funeral parlor, I was intercepted by Donna, Bill and Mary Kay, children of Dan Whitters, my late father's close friend who had married his cousin Betty. The world never felt more right than on summer nights when Dan and my old man talked White Sox and the weather while sitting in lawn chairs — brown bottles of cold Drewrys beer sweating in their hands — while we caught lightning bugs with our cousins in the yard. A wave of that feeling, I swear, washed over me the instant I saw their bright smiles. John Doyle, who lived four doors down on 96th Place, and whose late brother Joe had been my pal since first grade, rested his hand on my shoulder. Mike Pavlik, whose family lived across the alley behind ours and who was the leadoff batter on our softball team, squeezed my arm. Mickey Michau, raised with his four brothers and two sisters on the opposite side of our street and across the alley known as Piggy Toe Mountain because of its steep incline, approached with his wife, Carol, and asked if I might sneak away from the wake for dinner at the Patio restaurant next door. Mickey's father, my father, Tom Bracken, Bill Doyle, Tom Booth, Nick DiBennardi, Rich Ozmin, Ted Iverson, John Gramer, Dick Burge, Leo Grandi, Len Davis, Walter Remiasz, Emil Mitterman — all Word War II veterans and extraordinary friends who raised their families on those same two adjacent blocks, all passed away, but their children came that night. The same children who played hide and seek with Rosie and went sledding with us on Piggy Toe on snowy days after school. More than friends growing up, we inherited the bond forged by our fathers, a bond deeply felt half a century later. Previously, I have written critically about the funeral business. But as funeral customs go, no country gets it more right: Our origin community rushed to my family from many miles, many decades, and many memorable times to lift us up. I felt a spiritual and physical rising, as though I were being held above a waterfall by multiple soothing hands so that I might see and hear and smell life's preciousness, secure in the knowledge that friends, relatives and even strangers in a hotel and an airplane would not let me fall. Though my sister departed this world, she left behind footprints, energy, memories and a throng who came together to remind us of their love, lending us light in a time of darkness, and strength and a rebirth of hope at Easter.
Yahoo
15-04-2025
- Automotive
- Yahoo
Volkswagen Beetle LIRO BIRO Looks So Wrong
Read the full story on Backfire News We've seen our fair share of car builds that make our stomach turn, but this Volkswagen Beetle LIRO BIRO is on a whole other level. The thing at first glance looks only slightly modified, but the longer you examine the photos, the more of an uncanny valley feeling creeps over your soul, making you question the very point of dimensions of the VW Bug are all out of whack, like someone drew the car from memory. We're not sure how it was built since the guy who's selling it doesn't say, and we're not familiar with the LIRO BIRO term (forgive us if you are), but we honestly can't tell if any of the body panels are the same dimensions and shape as an original Beetle. The doors, roofline, overall length, even the hood have a fun house mirror vibe to them, like they've been stretched out, chopped, and otherwise altered for a funky appearance. Then there's the front grille. It's an ironic thing to put on a rear-engine vehicle, especially since it's air-cooled and so there's no radiator under the frunk that needs airflow before returning coolant to the engine's water jacket. According to the seller, this is a 1970 VW Beetle, obviously modified, with a 1600cc four-cylinder engine and manual transmission. The interior only has room for two seats instead of the factory backseat that's really only for storing bags, confirming the overall length of the Bug is much shorter. With a nice purple paint job, allegedly 5,350 miles on it, and an asking price of $5,500 OBO we just have to wonder if you'd be willing to be seen behind the wheel? Would this be a fun, different ride you could use to make others smile? Or would it be an embarrassment on wheels? See this car's listing for yourself here. Images via Bryan Navar/Facebook Marketplace
Yahoo
31-03-2025
- Automotive
- Yahoo
These Are The Least 'You' Cars You Have Owned
Being a car enthusiast can be tough, especially when you see yourself as the type of person who should be driving a Porsche but you're on a budget that only covers a clapped-out old Kia. Sometimes though, the stars align and you wind up in a car that fits your budget and your wants as a car enthusiast who likes the act of driving. Last week we asked you what car you've owned that was the least 'you,' and you all shared some awesome stories, actually. Some of your answers were logical choices that were dictated by necessity, while others ended up with some seriously unexpected and entertaining vehicles. There were two AMCs and one Geo that made the list, so y'all got some really obscure cars. I selected my personal favorites, but there are plenty of other great answers and stories that were shared that I didn't include here, so go read through the comments over there, or share your story in this post's comments. Read more: SEMA Was Full Of Wild Concepts In 2002 Following my first car purchase that all but blew up in my face, I found myself suddenly and desperately needing reliable transportation so I could commute to school. When I saw this brown 2003 Honda CR-V was the cheapest vehicle on the dealer lot I was at, I didn't have much choice, but I went for it. Initially my fragile 19-year-old ego was mighty bruised (just look at my halfhearted smile) when I had to surrender my catastrophically unreliable 2005 Saab 9-3 cabriolet that was my first car and buy a brown mommy crossover, but it was a humbling and necessary experience that served me very, very well. I needed to be knocked off my high-horse since owning my fancy Saab made me feel like king turd of poop mountain. But my Honda knocked me down a few pegs in my own mind, and gave me what every 19-year-old man needs, a dose of reality. Now I'll get into your answers to the least 'you' cars you've ever owned. It was 1980-something, my 1967 VW Bug was on it's last legs, I was working full time, and going to school at night. I bought an AMC Gremlin that was primarily a faded orange with brown and blue doors/hood. To make it extra special, the automatic transmission didn't have a working reverse gear and I was parallel parking in Philadelphia. I had the car for about six months and replaced it with a red 1967 Volvo P1800S (a proper car). I was dating my future wife at the time. We are married over 40 years now, and I love my MIL, but she still references the Gremlin from time to time. Submitted by: pbegley A Gremlin is so ironically cool. I'd love to drive one just to experience the lowest of the automotive lows. In the early Eighties, I had to bite the bullet and sell my '74 Z-28 to pay for my senior year in college. A neighbor lady was kind enough to give me her dead husband's '74 AMC Matador sedan. The good news was that it weeded out the girls who dated me only because I had a cool car. The bad news was that it weeded out the girls who dated me only because I had a cool car. Submitted by VABubba I remember the first time I saw a '74 Matador coupe. I was immediately obsessed with it because it was so weird and ugly I had never seen a car that looked quite like it. I bet the ladies loved your sedan. I had a string of vehicles that all worked for me, K20 Civic Si, 5 speed '01 VQ35 Pathfinder, 6 speed '12 Tacoma, 5 speed '06 Accord K24, even the '11 Silverado 4.8. Third kid was on the way, the wife already had a '15 Pilot (admittedly I'm OK with the boxy style and they can be made to look more interesting). It was decided that I needed a 3 row crossover and of course the ones I liked (full size or Durango R/T or the like) were out of our price range... enter the '14 Traverse. It did everything right and we took it on multiple 1,000 mile one-way road trips, but it did nothing for me as an enthusiast. So when it was ready for replacement I got a used Armada and was thrilled to have something I could play with, tow with and enjoyed I noticed the cold start engine tick and made Carmax take it back since it needed a new engine... and now I'm stuck in a 2021 Enclave Avenir. Nice vehicle, much more peppy than the Traverse, but absolutely boring as an enthusiast. Three row vehicles can be interesting, it hasn't worked out that way for me. Submitted by: cintocrunch Enclave Avenirs are nice but I hear your complaints loud and clear When my dubiously cheap 2001 Chevy Cavalier (don't laugh, Z-24, manual, it only broke down once in the nine years I had it!) got crushed on I-40 in 2017, I was in the process of scouting for a proper enthusiast car, as an addition to the unstoppable Cavalier, but I wasn't ready to pull the trigger yet. When a drunk Kia driver ended the Cavalier, my wife and I decided to replace her car (a grungy 2006 Civic) first, and I would drive her Civic until I found something to replace the Cavalier with. So the least "me" car I drove... wasn't really mine. Replaced it with a 2019 Miata RF. Still got it. Submitted by: Give Me Tacos or Give Me Death Honestly I fear the Civic is a better choice than the Cavalier despite the Cavalier's sporting intentions. But, glad you got a Miata! That's a good fun car. I think there is two cars that comes to mind. A 1997 Honda Odyssey (handed down by my parents) and the car didn't suite me since I was single and had no kids or need for a people carrier. The other is a 2005 Toyota Camry and that was the least "me" car since I am and still into cars (exotics and stuff like that) so owning a Camry and knowing that you like those of cars didn't match me at all. Submitted by: Russell These Odysseys were so intriguing to me as a kid who grew up in a Dodge Grand Caravan, a comparatively gargantuan "minivan." The first vehicle I ever bought (a green '93 Jimmy) lasted only a month before getting totaled in a rear-end collision. Took the insurance money and had to look for a set of wheels while still shocked and upset from the loss. That's how I ended up with a white '03 Elantra that looked exactly like Snoopy's head when seen in profile. Submitted by: Bogey the Bear I gotta say Bogey, I googled Snoopy to guess which bodystyle Elantra you had and as soon as I saw it I said, "oh it's the hatchback." Please confirm. After my exquisitly beautiful 1968 Fiat 124 Coupe blew its engine at about 30k miles, the only dealer who would take it was, of course, the Fiat guy. And the only car I could afford was a Fiat 850 we bought a very used Studebaker Lark for when we needed a "real car." Submitted by: Jerry Knight Two incredibly obscure cars, I love it. Back in my oh-so-dumb 20s I succumbed to my inner most desires and bought a 1971 Corvette with the LS5 454 V8. Everything that could go wrong did and it pretty much broke me financially. I sold it to a buddy who knew the trouble I had, but wanted it anyway. He even threw in a 1961 Chevy Bel Air 4-door in a bright teal and rust patina, so that I'd have transportation. Oh, how the mighty had fallen from Corvette to rusty Bel Air with no heat and a nail to replace the turn-signal stalk, but that old Chevy would start and go every morning even in below zero Chicago winters. Both those cars taught me a lot about what was important and how to buy a car that was right for my needs Submitted by: Jimboy Junio Jimboy, I couldn't find a usable photo of a four door, but it's actually kinda cool now. Definitely no Corvette, and I'm sure at the time it was uber dorky, but now it's a cool retro sedan! After 4 manual transmission sporty cars (MGB, Fiat 124, Mustang GT, Ford Contour) in the 1990s I decided to see what SUVs were all about and bought a 1996 Ford Explorer Eddie Bauer Edition AWD V8. Two-tone white and gold, it had all the current bells and whistles like power everything, keyless entry, trip computer, etc. It drove well and was a great highway cruiser. Was really good in the snow with AWD, good power, and good ground clearance. But it wasn't as much fun in daily driving, not as good on curvy back roads and I just kept thinking how inefficient it was for me to be driving around this 20MPG vehicle by myself. Sold the Explorer after 6 months and got a new 2008 Mazdaspeed 3. Kept that 10 years, it was a lot of fun and practical too with the hatchback. Submitted by: Psycho78 What ever happened to Eddie Bauer? For me, a Ram Laramie Crew. There's nothing wrong with a big old luxury truck if you're a big old luxury truck person, but I'm most definitely not. I bought it because I was heading into retirement and losing my company car so I needed a driver. It just happened that this particular truck hit the trifecta for the aged inventory discount, regular rebates, plus my employee purchase price. I got slightly over 40% off MSRP. Too good to pass up, right? It was awesome on road trips and hauling stuff, but horrible for everything else, which unfortunately was the other 98% of my post retirement driving. The happy ending was that after 3 years, I sold it, made a small profit, and bought a certified pre-owned Macan S, which was much more my speed, (until I drove a Stelvio Veloce which was even more my speed). Submitted by: Factoryhack Sounds like despite the Ram's lameness you got a good deal out of it! I hope your Alfa is treating you well. This one is kind of left field: A new, custom ordered 2024 Mercedes EQA 250. How come a new car I configured has been the least "me"? Because I didn't need or want an SUV. But at the time because of a company lease deal, this was the cheapest way for me to drive a nice, capable EV. The lease conditions also didn't allow for me to pick an actual colour so I had to go with a boring silver one. Up until then I drove a blue smart EQ fortwo cabrio, so quite the contrast. My next one will be the electric CLA, which should be more my speed again. Submitted by: Nico I'm so jealous of your Smart ForTwo EQ Cabriolet. I was always a European car guy. Alfa Romeo. Porsche. Fresh out of college, engaged, and wanting our own home, I sold my E30 BMW 325is so our only car was her '91 Geo Tracker convertible. Slow, unrefined and enormously susceptible to crosswinds at the hint of the slightest breeze, that Geo handled New England weather in stride, and compared to my departed BMW, it cost nearly nothing to maintain. Submitted by: Baybrook Tom I fear I may be in the minority when I admit this, but I absolutely love the Geo Tracker convertible and it's a life goal to own one at some point. I think it's way cooler than an E30, though I understand it might not be quite as fun to drive. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
