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Trump's tax-free tipping scheme, a gift for billionaires?

Back in 1982, Republicans in the Reagan administration decided that they needed to raise taxes on average

working people to pay for part of the massive tax break they were giving

billionaires. They dropped the top income tax bracket from 74 to 28%. Reagan imposed income taxes on

elderly people on their Social Security income, ended the tax

deductibility of interest on car loans and credit cards, and ended the tax deduction on two-income

households. But one of the most truculent ways Reagan went after average

working people to fund his tax cuts for billionaires was to sign legislation and issue new rules

requiring the IRS to more aggressively require employers to track and report

tips earned by their employees and tightening penalties on tipped workers who'd fail to report their tip income.

Speaking last month in Nevada, the state with the highest percentage of tipped workers in the nation,

Donald Trump proposed eliminating taxes on tips altogether.

Not to be outdone, Kamala Harris has also endorsed the idea.

But there are big differences between the two.

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