Breaking Down "No Tax On Tips"
The NPR Politics Podcast
NPR
4.4 • 25.7K Ratings
🗓️ 2 September 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The idea may sound good on first go, but it has its detractors, namely economists and tax experts. Their fears include unfairness and people gaming the system.
Our friends at The Indicator from Planet Money look at how to put in place guardrails for a policy that many economists believe is likely to go off the rails.
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Transcript
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| 0:00.0 | This message comes from NPR sponsor Policy Genius, where you can get peace of mind by finding the right life insurance. |
| 0:07.0 | Some policies start at just $292 per year for $1 million of coverage. |
| 0:11.5 | Head to policy Genius.com to see how much you could |
| 0:14.3 | save. |
| 0:17.0 | Hey there it's the NPR Politics Podcast. I'm Deepishivaram, I cover the White House. |
| 0:24.3 | And on this Labor Day, we want to take a look at a labor proposal that's getting a lot of attention. |
| 0:29.3 | Our friends at The Indicator from Planet Money took a look at the idea of eliminating taxes |
| 0:35.0 | for the tips that some workers receive, people like restaurant servers, baristas, |
| 0:39.6 | hairdressers, and today we want to bring you their reporting. Here's Wailin Wong and |
| 0:44.9 | Darien Woods. We've heard a lot over the last several weeks about getting rid of |
| 0:48.8 | taxes on tips, notably from Donald Trump. |
| 0:52.9 | It's called no tax on tips. |
| 0:55.8 | No tax on. |
| 0:58.2 | And then Kamala Harris in her Nevada speech |
| 1:00.5 | about a week and a half ago. |
| 1:02.0 | And eliminate taxes on tips for service and hospitality workers. |
| 1:07.0 | But you know who doesn't agree with this policy? |
| 1:10.0 | Economists. |
| 1:11.0 | Yes, economists. |
| 1:12.0 | And tax experts like Howard Glegman. |
| 1:15.0 | It's a terrible idea. |
| 1:16.5 | Howard is a senior fellow at the Urban Brookings Tax Policy Center. |
... |
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