Trump wants to kill tax on tips. That could save Americans over $100 billion over the next decade—but backfire for the working class
- Trump’s proposed elimination of taxes on tips could boost the finances of select Americans. But it could also worsen tipping fatigue—which 9 in 10 Americans already think is out of hand—and make it even easier for the wealthy to avoid paying taxes.
As a presidential candidate, Donald Trump made a bold promise: to eliminate taxes on tips.
On paper, the policy change sounds like a slam dunk by reducing the tax burden on Americans working in service industries. According...