Former President Donald Trump has proposed eliminating federal taxes on tips and imposing a 10% tariff on all U.S. imports. The proposal to make tips tax-free, raised during his June 9 rally in Las Vegas, has garnered praise from Las Vegas restaurant workers and business owners, with GOP lawmakers introducing a bill to support the idea. The National Restaurant Association has also reacted positively. However, some labor groups criticize the proposal as a 'fake solution' and urge Democrats to address cost-of-living issues. Trump's plan to replace income tax with tariffs has sparked debate, with economists warning that consumers would bear the cost and that the policy could add as much as $250 billion to the federal budget deficit. Former Treasury Secretary Lawrence Summers has also voiced opposition, suggesting that tariffs should be used selectively.
Trump: “No Tax on Tips!” https://t.co/mZaNlsXSaY
Donald Trump’s pledge to cut taxes on tips if he gets re-elected looks like smart politics—but the fiscal implications are ominous https://t.co/9Xn9iqej7J 👇
Former President Donald Trump’s proposal to exclude tips from federal taxes is getting strong reviews from some Republican lawmakers. But major questions remain about the impact of the policy and how it would work. https://t.co/yN0PxHxjbm
U.S. President Trump wielded tariffs more than any recent American president, particularly against China. President Biden has largely left these levies in place while imposing his own. Get the background: https://t.co/tndCjMYiHY
Trump's proposal to eliminate taxes on tips could add as much as $250 billion to the federal budget deficit, a fiscal watchdog group says https://t.co/jw7T7pLgaW
The problem with Trump's proposal to tax imports: tariffs are a source of economic malaise, not strength. https://t.co/ajqiWcp5t5 via Alexander William Salter
Trump's widespread enthusiasm for tariffs as the centerpiece of his economic strategy--the idea that tariffs will be used as one of the major revenue sources of the country--this is way beyond what has traditionally even fallen within the discourse of discussion. Watch my…
Trump's widespread enthusiasm for tariffs as the centerpiece of his economic strategy--the idea that tariffs will be used as one of the major revenue sources of the country--this is way beyond what has traditionally even fallen within the discourse of discussion.…
ECONOMIC ‘RESCUE’: "Bar Rescue" host and executive producer Jon Taffer praised former President Trump for coming out in favor of not taxing tips. Catch the full interview and get more details: https://t.co/i3ScVnKi6J https://t.co/DvN38O4TnZ
Senate Republicans recently crafted legislation off of former President Donald Trump's proposal to eliminate federal taxes from tips off of wages. https://t.co/UdC9xfB5VW
“Trump’s plan for inflation is 10% tariffs across the board,” says Yale Senior Associate Dean @JeffSonnenfeld on why Donald Trump is not the right candidate to combat high prices. “That [alone] is going to lead to a huge spike in inflation of about 3%.” https://t.co/MyDshQjRYp
Trump said no tax on tips and it’s catching on. National Restaurant Association Executive Vice President for Public Affairs reacts as the GOP introduces the “No Tax on Tips Act.” | @dagenmcdowell @CharlesHurt https://t.co/38xEITwwGg
Senate Republicans propose bill slashing taxes from tips https://t.co/W7QEJUzxI9
Former President Trump has suggested eliminating taxes on tips. One labor group that favors higher base pay called Trump’s proposal a “fake solution” but urged Democrats to “pay some more attention” to cost of living issues. https://t.co/V7JpzylxBK
A shift away from income taxes is good, but Trump’s tariff math doesn’t add up https://t.co/nKANAHURQk via @dcexaminer @TianaTheFirst is SO SO SO right about this.
Trump's pledge to not tax tips is brilliant... and I talked about it with @GBNEWS Donald Trump lauded for ‘brilliant move’ with US tips: ‘Tax cuts for working Americans!’ https://t.co/xAhb11YXYO
Former Treasury Secretary Lawrence Summers and Donald Trump volleyed opposing views this week about the former president’s proposal to impose a 10% tariff on all imports. https://t.co/SiiRR1sw6g via @economics @elwasson @DavidWestin @readep
Donald Trump lauded for ‘brilliant move’ with US tips: ‘Tax cuts for working Americans!’ https://t.co/ODeZtonqoR
.@LHSummers, former US Treasury Secretary, responds to Donald Trump’s defense of using tariffs as a show of power with a warning that they should be used selectively. Trump has said he wants to impose a 10% tariff on all imports if reelected https://t.co/ry6VrlHfex https://t.co/EeZp5VUOpL
Trump's proposal to tax imports to pay Washington’s bills has a certain political appeal. The trouble is the math doesn't pencil out. https://t.co/ajqiWcp5t5 via Alexander William Salter
good thread (and post) on Trump's half-baked proposal to replace the income tax with tariffs. https://t.co/nckzyUwM4c
President Trump's proposal to END federal taxes on tips continues to earn high praise from Las Vegas hospitality workers: "It would probably sway me a little bit because it does help me at the end of the day" https://t.co/kopQd8GZzy
Former Treasury Secretary Lawrence Summers and Donald Trump volleyed opposing views this week about the former president’s proposal to impose a 10% tariff on all imports. https://t.co/VmwzDrq2Yh
🧵 (1/6) In a just released @PIIE blog, Maurice Obstfeld and I examine the limits of Trump’s desire to replace income taxes with tariffs. In short, a full replacement is impossible. And, if you push this policy to its limit, it would be bad by any metric. https://t.co/kUAu6Rbp0G
President Trump proposed getting rid of the income tax altogether and replacing it with import tariffs. Is he crazy? This is actually how the federal government worked before 1913: Nearly every dollar they collected came from tariffs. Back then it worked spectacularly.… https://t.co/9Jsfps7MdA
Donald Trump reportedly wants to replace the income tax with huge tariffs on imports. The move would result in massive tax cuts for the ultrarich—at the expense of other Americans, @SykesCharlie writes in The Atlantic Daily: https://t.co/avjC9KRXKf
Former President Trump’s ‘tax-free tips’ proposal grabs headlines even as experts raise eyebrows https://t.co/RZ13QKDsjR
Former President Trump's call to eliminate taxes on workers' tips is the kind of Vegas gamble a casino would never allow: It has multiple potential payouts and it's being made, essentially, with house money. https://t.co/hPfRuOt8cf
Former President Donald Trump is floating a 10% across-the-board tariff on all U.S. imports. But economists warn consumers would pay the price. https://t.co/al2bV9PmcP
Trump is proposing to make tips tax-free. What would that mean for workers? https://t.co/i35pN8pJTC
Eliminating taxing cash tips on service industry workers is such an incredibly good policy idea that the people with blind hatred to this idea are exposed because Trump said it out loud .
KEEP THE CHANGE: GOP lawmakers introduce bill to make tips exempt from federal income taxes after Trump raised the idea during his June 9 rally in Las Vegas. https://t.co/i1KoUYH49z https://t.co/BVXRWf1qQy
🧵🇺🇸TRUMP JOINS ALL-IN PODCAST 1. Larry Summers predicts economic doom, but Trump's got a tariff for that. https://t.co/bxDabhY92P
Donald Trump’s plan to replace the income tax with huge tariffs on imports exposes the hollowness of his populism. Basically, it’s screw-the-little-guy economics. https://t.co/QFGyduOJ44
President Trump's proposal to ELIMINATE federal taxes on tips is earning high praise from Las Vegas restaurant workers AND business owners: "It definitely would help." "I think it is a great idea." https://t.co/etqFDfdEz5