Yesiree, if they would come out and vote for Barack Obama to be elected President, they could trust him to deliver the goods!
Well, that was then and this is now. We're in the "new normal," as President Obama calls the era of "Hope and Change."
Unfortunately, what "Hope and Change" really means in 2014 for all of those young adults who can't find a "real" job and find themselves having to work in restaurants to make ends meet--and oftentimes for below the minimum wage--is a new IRS tax rule designed to keep them from collecting automatic tips.
Before the era of "Hope and Change," employees would disclose their tips to their employers monthly. Employers would then deduct income and payroll taxes from the amount of tips reported.
But, acccording to Watchdog.org, restaurants--like Red Lobster, Olive Garden, and Capital Grille--that automatically collect gratuities of 15%, 18%, or 20% for large parties must now add that fee into payroll. What this means in actual practice is that restaurant workers will pay taxes on those tips and have to wait up to two weeks to receive them in the form of a paycheck.
Although President Obama put his hopes in young adults, it now seems the President doesn't believe that young restaurant workers are being honest with him. So, he's sicced his IRS on them by implementing a new rule to lower the possibility that young restaurant workers will report lower tips than they're actually receiving monthly.
While this is going on, the President outlined in his weekly radio address last Saturday some steps he's going take to make 2014 "a year of action." He said:
And at the end of the month, in my State of the Union Address, I will
mobilize the country around the national mission of making sure our
economy offers everyone who works hard a fair shot at opportunity
and success. As Americans, that's what we should expect. And after
everything you've done to recover and rebuild from crisis these past
five years--after all your hard work and sacrifice--that's what you
How's that "hopium and changium" treating you? Better keep your eyes wide open, because the tax man will be taking more of your hard-earned salary!
Let the discussion begin...
To read the Watchdog.org article, click on the following link:
"New IRS Rule Could Cut Into Restaurant Workers' Tips."