Tax-Free Tips? Monumental Tariffs? Trump Ponders Both

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.2 • 2.8K Ratings

🗓️ 18 June 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Donald Trump's recent musings on tax policy include proposals to exempt tips, impose huge tariffs to replace the current income tax, and cut the corporate tax rate to 20%, from today's 21%. What of this is good tax policy, versus a political effort to win swing voters, and how does it compare with Joe Biden's ideas, including his recent proposal to raise the corporate rate to 28%? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	O. C.I. is the single platform for your infrastructure, database, application development, and
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0:11.4	Take a free test drive of OCI at oracle.com
0:14.4	slash Wall Street. From the opinion pages of the Wall Street Journal
0:21.3	this is Potomac Watch.
0:24.6	Donald Trump muses about potential tax policies
0:27.7	he'd pursue in a second term, including making tips tax free
0:32.2	and possibly replacing the personal income tax with
0:35.0	tariffs.
0:36.3	Is any of this a good idea how likely is it to come to pass and how does it compare with the
0:41.1	policies favored by the incumbent President Biden?
0:44.4	Welcome, I'm Kyle Peterson with the Wall Street Journal.
0:47.8	We are joined today by my colleagues, editorial board member, Kate Batchelder, Odellell and columnist Kim Strassal.
0:55.0	Despite a presidential election that is now only 20 weeks away we are still
1:00.0	having a campaign at least to my eye that is based on the past and on personalities
1:04.9	rather than the future and any agenda for the country.
1:08.0	Though now bits and pieces of ideas seem to be breaking through now and again, and one of those in recent weeks has been
1:14.5	Donald Trump's idea of making tips tax free. Here's the man himself Donald
1:20.1	Trump announcing this idea at a Las Vegas rally.
1:23.2	So this is the first time I've said this and for those hotel workers and people that get
1:28.6	tips you're going to be very happy because when I get to office we are going to not charge taxes on tips people making
1:37.0	tips.
	...

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