Why ‘No Tax on Tips’ Is a Bad Idea, According to Economists | WSJ
Both Vice President Kamala Harris and former president Donald Trump say they want to eliminate taxes on tips for service and hospitality workers. Many experts warn this tax policy could help employers more than workers, increase the federal budget deficit and even accelerate tipping culture in the U.S.
WSJ breaks down how this policy could play out in a Trump or Harris presidency and why many economists are skeptical of its success.
Chapters:
0:00 Taxes on tips
0:40 How the policy would work
2:19 What most economists think
4:34 How it could be implemented
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