Jared Bernstein

And again, those a lot of those folks are getting health care on the exchanges right now.

And, you know, it's better than it's better than not being covered, but they don't love it.

Yeah, no, I think that's really...

A bad idea.

Do you want to say the second one again?

Exactly.

So the first thing we worried about literally 30 seconds after somebody told me about that, I said, you're going to have a lot of, you know, stockbrokers who are saying, you know, I earn a dollar a year and the rest is tips.

Now, they did try to structure.

the policy to block that.

Right.

And that just adds a level of complexity that is really the antithesis of smart tax policy.

The minute you have 80 occupations that are OK and a bunch that aren't, you can imagine what's going to go on in tax court.

And what's a good thing?

Yeah, right.

So the first problem is that it's easy to game, and I suspect that their guardrails are insufficient.

The second problem is that there are a lot of low-wage workers who get tips and don't pay any federal income tax.

So this doesn't help them at all.

Most low-wage workers simply don't have a federal tax liability, so it means nothing to them.

And then the third problem is we actually have a very significant revenue problem in this country.

And so tax cuts are one reason why we are looking at a really unsustainable fiscal path.