Data from the US Bureau of Labor Statistics

Trump Proposes No Tax on Tips and Massive Tax Cuts at RNC Speech

Jul 19, 2024, 03:29 AM

During his speech at the Republican National Convention (RNC), former President Donald Trump announced a new policy proposal to eliminate taxes on tips. Trump explained that the idea came from a conversation with a very smart waitress in Nevada, who highlighted the financial burden that taxes on tips impose on service workers. He emphasized that this policy would benefit individuals such as waitresses, caddies, and drivers, allowing them to keep more of their earnings. Trump also addressed the broader economic challenges, stating that the nation is facing an inflation crisis that is making life unaffordable for many Americans, particularly working and low-income families. He promised to tackle inflation and reduce interest rates as part of his broader economic relief plan, which includes massive tax cuts for workers.