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.
-----
Would you like to get more involved with the social sciences? Email us at communications@socsci.uci.edu to connect.
Related News Items
- Careet RightWhat to know about Oklahoma's proposed minimum wage increase
- Careet RightEconomists have found an answer to slowing cognitive decline: avoid retiring early, study finds
- Careet RightReopening the minimum wage debate
- Careet RightYamaha HQ leaving California for Georgia
- Careet RightCalifornia's strict regulations may frustrate business starts