Countries like the USA and Canada could cut income taxes and make up the difference with tariffs.
Exactly Congress just do it.
These promises are the reason the GOP controls Congress. A lot of people who never would of voted GOP voted for the GOP this time They must not fumble another chance at being the dominate US political party by letting the usual GOP_E types squish out again
Reducing or eliminating the tax on Social Security may be the easy one. With tips, it becomes income that isn’t reported to the IRS. I am not sure how they would implement no tax on OT.
Yes, Congress should make it law. But Trump can order the IRS not to tax tips, and the DOJ not to enforce any so-called “tip tax evasion” in the meantime. Unfortunately many employers will still issue 1099s or W2s which is why it needs to be law.
State taxes are another matter. People are going to have to rally for that.
AFTER he cleans house and AFTER his people are approved. We are not a month in yet
That is why I am a member of the Constitution Party.
When Congress writes the new tax code.
No tax on OT sounds like a bad idea.
It’s the kind of promise politicians make without thinking.
What about people who work on salary?
What about people who work multiple jobs?
Yes end INCOME tax on tips. But DO NOT END PAYROLL TAXES (i.e., FICA taxes) on tips. To do that would have a devastating ADVERSE impact on the tipped employees’ Social Security benefits down the road.
And Trump wants to make overtime tax free.
Possibly they could simply exempt in cash tips.
Add removing the RMD from IRAs too.