What would eliminating taxes on tips mean?
What would eliminating taxes on tips mean?
- August 28, 2024
- David Neumark, economics, Fox 11 Los Angeles, Aug. 28, 2024 (Video)
Both Kamala Harris and Donald Trump have promised to eliminated taxes on tips for service workers if they're elected president. UC Irvine economics professor David Neumark weighs in on the pros and cons of the proposals. “Well, as an economist, it’s hard to come up with any pros. The policy really doesn’t make much sense. Obviously, if you’re a tip worker, you might like to pay less taxes on your income – but that’s true of everybody,” says Neumark.
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