Posted on 08/13/2024 8:31:42 PM PDT by SeekAndFind
With the presidential campaign heating up, both former President Donald Trump and Vice President Kamala Harris are making a play for service and hospitality workers’ votes by promising to eliminate taxes on tips.
But the move likely wouldn’t help many tipped workers, largely because a sizable share don’t earn enough to pay federal income taxes, experts say.
Neither Trump, who announced the idea at a Las Vegas rally in June, nor Harris, who voiced her support for the policy in Las Vegas on Saturday, have released detailed proposals, which would have to go through Congress. Among the questions are how much tipped income would be free of taxes, whether any guardrails would be put in place to prevent fraud and abuse and whether both federal income and payroll taxes would be eliminated.
Harris would couple her plan to eliminate taxes on tips with a push for Congress to raise the minimum wage, a Harris campaign official said. Also, the proposal would include an income limit and prevent hedge fund managers and lawyers from structuring their compensation to try to take advantage of the policy. Tips would remain subject to payroll taxes.
Trump on Tuesday suggested he supported eliminating federal income and payroll taxes on tips, clarifying that his proposal would cover both levies.
“We’re looking at doing the full bore,” Trump said in an interview with Spectrum News 1 in North Carolina when asked if he supported eliminating both federal income and payroll taxes. Such a measure would require congressional approval.
Soon after Trump promised in June to get rid of taxes on tips, Republican Sen. Ted Cruz of Texas introduced a bill titled “No Tax on Tips Act,”
(Excerpt) Read more at lite.cnn.com ...
But Harris was the tiebreaker on the IRS increases to go after service sector workers tips. She’s flip flopped (again).
The Commie News Network refuses to grasp that A) It’s not the government’s money until they steal it from us and B) the federal government (congress) is like a shopaholic that can’t stop spending money, and most of it is not constitutional anyway. They need a serious intervention.
Trump came up with the idea and Harris poll tested it then stole the idea. Democrats are the party of criminals for a reason...
Harris won’t do it if she’s elected... anymore than President Sniffer ‘united all Americans’. Democrats lie to get elected then rule like thugs and goons..
Harris wants to eliminate tipping, because the Dems want all sources of income traced. So, technically by eliminating tipping she is keeping her promise to not tax tips.
The devil is always in the details.
They can say whatever but I believe Thomas Massie just introduced legislation to make it happen. They will be in position to sign the new Trump elimination of taxes on tips law. It took Trump maybe three weeks from HIS introduction to seeing it begin to happen.
Lower/Eliminate as many taxes as possible, while, also, promising to eliminate even more taxes, ASAP! Also, place on, both, federal tax forms and state tax forms the options to volunteer to pay as many taxes as you wish, as long as you can afford to do so. Volunteer to donate monies to charities of your choice. Greatly lifting all of the burdens connected to all taxes will win a ton of votes!
The people who give the tip have ALREADY paid taxes on that money, this is double taxation PLAIN AND SIMPLE!!!
stark and obvious....should become a viral meme
You recoup that amount and more by firing the 85,000 new IRS agents who were hired to make criminals of people who work for tips.
Who gives a crap ?
She is a lying sack of obama.
Trump announces it and a week later Harris stole the idea since she had none of her own.
This has nothing to do with having no ideas or policy.
No doubt the Dem campaign did very fast polling and found that they had to eliminate it as a differential numerical advantage.
This will be true with absolutely every item of policy from now to November. NOTHING MATTERS BUT WINNING.
Tough crap for the federal budget. Try spending less like the rest of us had to.
Did I miss a difference or lack of it?
Does Trump mean all tips (pizza and other food deliveries, golf course, car valet, hotel service....) and Kamala mean limited only to “service and hospitality” ?
Or were they the same “tips” referenced by both candidates?
Ahh - the dilemma of poor CNN. How do we make “No Tax on Tips” a good thing if Kamala is the one who implements it and a bad thing if it’s Trump?
He introduced the idea on approximately June 9th & she came up with her plan on August 10th. She announced it to buy votes in Nevada. If she ties in raising the minimum wage too, many servers will subsequently lose their jobs so it’s moot. She also wants to put limits on the amount that’s tax free which means the tax relief will be minimal.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
