By pamela_d_mcadams @ Adobe Stock
The idea of no tax on tips was first introduced to the 2024 presidential campaign by Donald Trump. Then, upon her coronation without votes, Kamala Harris adopted the same plan. But is the popular idea of no tax on tips a good one? Not really. If you think too many businesses are already demanding tips, imagine what would happen when income from tips becomes a quarter or a third more valuable than salary income. Even your doctor’s office and attorney will be asking you to put something in the jar on the way out the door. No thanks. A better plan is to decrease or eliminate taxes on all income, not just tips. Repealing the 16th Amendment would go a long way to starving the federal government of its power, and force a return of America to the constitutional republic it was meant to be. In a video from The Wall Street Journal, economists explain some of the problems with “no tax on tips.”
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