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Senate unexpectedly passes the No Tax on Tips Act in a unanimous vote (www.nbcnews.com)

submitted 3 days ago by Amoxtli to c/[email protected]

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[–] [email protected] 4 points 3 days ago (1 children)

Plus the tax deduction cap is a hard value without any callout to the treasury department to modify the cap as inflation grows. So if we hit a hyperinflation scenario, a $25k cap won't mean shit. Congrats on getting a free hotdog's worth of tax writeoffs.

[–] [email protected] 3 points 3 days ago

So the earning limit is indexed but the amount you can claim is not. Somehow half idiocy is much worse than full idiocy.