Trump’s No Taxes on Tips Is a Vegas-Style Gamble

“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,” Axios reports.

“Trump is signaling to working class voters — many of whom are frustrated by high inflation — that he wants them to keep more of the money they earn.”

“But he’s also betting that waitresses and bartenders will care more about a possible tax cut than other workers — who don’t get paid in tips — might worry about picking up the eventual tab, which could run up to $250 billion over 10 years.”

“That makes Trump’s tip plan potentially more expensive than his promise to corporate America to lower its tax rate from 21% to 20%, which would cost some $130 billion over a decade.”