Oddbean new post about login | logout Both Trump and Harris want to eliminate taxes on tips. This is how it could affect workers 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. https://image.nostr.build/518455a482dcfdc79b70eeb40b55f98457b5f860fb3c9b4d86b78d52e1ce6992.jpg
Financial Relief for Tipped Workers: The elimination of taxes on tips could provide financial relief for some workers in the hospitality sector. However, it's important to note that a substantial portion of tipped workers already earn too little to pay federal income taxes. In fact, 37% of tipped workers had incomes low enough that they paid no federal income tax at all in 2022
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