Vice President Kamala Harris pledged to eliminate taxes on tips in the service and hospitality sectors if she wins the presidency, echoing the same proposal former President Donald Trump announced months earlier. Both candidates promised tax-free tips at separate rallies in Las Vegas, making a direct appeal to voters in Nevada, a key battleground state where the hospitality industry employs roughly a quarter of the state's workforce, according to June employment numbers. "It is my promise to everyone here, when I am president, we will continue our fight for working families of America; including to raise the minimum wage, and eliminate taxes on tips for service and hospitality workers," Harris said at her Las Vegas rally on Saturday, which drew a crowd of over 12,000, according to the campaign.
Harris copies Trump's promise on no tax for tips
www.axios.com
... Vice President Kamala Harris in Nevada on Saturday promised to eliminate taxes on tips, two months after former President Trump promised to do the same.
Why it matters: Their rare point of agreement underscores the bipartisan popularity of the novel piece of economic policy.
- - - "It is my promise to everyone here when I am president we will continue to fight for working families, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers," Harris told a crowd 12,000 people in University of Nevada in Las Vegas on Saturday.
- - - "This was a TRUMP idea - She has no ideas, she can only steal from me," Trump wrote on TruthSocial, accusing Harris of taking the position for "Political Purposes."
Zoom in: Harris was endorsed by Nevada's powerful Culinary Union on Saturday, which represents 60,000 hospitality workers. ...
Sorry to rain on Gracie's parade (not really) but the idea to eliminate federal income tax on tips wasn't Trump's to begin with.
Trump Says 'No Taxes On Tips' Was His Idea. It Was A GOP Candidate's Proposal Years Ago
The alleged "TRUMP idea" arrives years after ex-Republican presidential candidate and former Rep. Ron Paul, in a Jan. 2012 op-ed, called it an "outrage" that wait staff and other service workers had to pay taxes on tips they earned on the clock.
The ex-Texas lawmaker, in 2007 and years thereafter, introduced legislation in Congress that looked to exempt tips from federal income and payroll taxes.
"That's because I understand ending taxes on tips will give these workers a pay raise, letting them keep more money to put toward things like a house or car payment, their retirement, or their own and/or their children's education," wrote Paul in the Las Vegas Sun op-ed.
Congressional records also show that at least one other lawmaker has called for no taxes on tips as former Rep. Phil Crane (R-Ill.) pushed the proposal back in 1982.
Sorry to rain on Gracie's parade (not really) but the idea to eliminate federal income tax on tips wasn't Trump's to begin with.
It's perfectly reasonable to claim Harris is copying Trumps policy, and hence his idea to put it in Presidential policy.
Let's not forget Harris signed the bill that put 87,000 new IRS agents into play, their task, well one of them was to go after TIPS.
IRS introduces new service industry tip reporting program
www.irs.gov
Known as snitching.
I am sure you and Gaslighter were all about the "happiness and joy" of 87,000 new IRS agents working investigating the snitch's claims.
This is what happens when you have no principles, your idols can hang you out to dry. Now you look stupid.
Personally I think it's a dumb idea, how can the IRS track "tips". I see tips now for everything. If it comes on a CC, it should be taxed.
Can I write software for $10,000 and get a $2,000 tip? Its a dumb idea.
@#12 ... Trump's proposal will not have a cap and will be designed so that even upper 6- and 7- figure earners can reclassify some of their irregular compensation - read bonuses - as tipped income, thereby paying no income tax at all on those earnings. ...
Typical of fmr Pres Trump ...
Fmr Pres trump touting tax benefits for the low- and middle-class so that those tax benefits can be exploited by the wealthy.
The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises (June 2024)
www.cbpp.org
...As this debate unfolds, policymakers and the public should understand that the 2017 Trump tax law:
- - - Was skewed to the rich. Households with incomes in the top 1 percent will receive an average tax cut of more than $60,000 in 2025, compared to an average tax cut of less than $500 for households in the bottom 60 percent, according to the Tax Policy Center (TPC).[1] As a share of after-tax income, tax cuts at the top " for both households in the top 1 percent and the top 5 percent " are more than triple the total value of the tax cuts received for people with incomes in the bottom 60 percent.[2]
- - - Was expensive and eroded the U.S. revenue base. The Congressional Budget Office (CBO) estimated in 2018 that the 2017 law would cost $1.9 trillion over ten years,[3] and recent estimates show that making the law's temporary individual income and estate tax cuts permanent would cost another roughly $400 billion a year beginning in 2027.[4] Together with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), the law has severely eroded our country's revenue base. Revenue as a share of GDP has fallen from about 19.5 percent in the years immediately preceding the Bush tax cuts to just 16.3 percent in the years immediately following the Trump tax cuts, with revenues expected to rise to an annual average of 16.9 percent of GDP in 2018-2026 (excluding pandemic years), according to CBO. This is simply not enough revenue given the nation's investment needs and our commitments to Social Security and health coverage.
- - - Failed to deliver promised economic benefits. Trump Administration officials claimed their centerpiece corporate tax rate cut would "very conservatively" lead to a $4,000 boost in household income.[5] New research shows that workers who earned less than about $114,000 on average in 2016 saw "no change in earnings" from the corporate tax rate cut, while top executive salaries increased sharply.[6] Similarly, rigorous research concluded that the tax law's 20 percent pass-through deduction, which was skewed in favor of wealthy business owners, has largely failed to trickle down to workers in those companies who aren't owners.[7]
Like the Bush tax cuts before it,[8] the 2017 Trump tax cut was a trickle-down failure. ...
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