Yahoo! Finance Article Rating

No more tax on tips? Workers welcome plan, but experts say there are better ways to help

Dec 23, 2024 View Original Article
  • Bias Rating

    10% Center

  • Reliability

    100% ReliableExcellent

  • Policy Leaning

    10% Center

  • Politician Portrayal

    -20% Negative

Bias Score Analysis

The A.I. bias rating includes policy and politician portrayal leanings based on the author’s tone found in the article using machine learning. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral.

Sentiments

Overall Sentiment

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Bias Meter

Contributing sentiments towards policy:

63% : Hughes-Svab and Svab said they would also want to see employee contributions continue toward Medicare and Social Security so those benefits aren't reduced when employees are older.
55% : The National Restaurant Association, which backs the end to income tax on tips, is in support of payroll taxation staying in place, saying in a policy brief that "it is critical for employees to demonstrate income to build credit and pay into Social Security and unemployment benefits through FICA contributions.
55% : "This is going to get folded into tax policy at large, and there's a huge number of moving parts in the tax debate and how this one plays out would depend on how all the others play out," Gale said.
53% : Meanwhile, tax experts anticipate that if the legislative branch is going to consider the tip idea, it would do so next year alongside other tax policy issues, including the upcoming expiration of 2017's Tax Cuts and Jobs Act and other tax-related Trump tax policy ideas, such as eliminating taxes on overtime and Social Security.
50% : One concern is over how the change may encourage more employers to adopt tipping in positions where it doesn't already exist to take advantage of tax-free tips, and in doing so, pass along labor costs to the tipping public.
49% : "Some economists argue that pursuing a taxation exemption will take the focus off more broad measures of helping low-wage earners, including the expansion of certain tax credits for low-income workers, elimination of the subminimum wage of $2.13 and raising of the $7.25 minimum wage.
47% : Various bills filed in Congress since Trump first announced his plans are more alike than not, but among the differences is the handling payroll taxes, including FICA, which helps fund Medicare and Social Security.
44% : Federal income tax is progressive, meaning those with higher incomes pay a higher tax rate.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.

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