Trump announces no taxes on tips for service industry workers!!!

[Debp]

This is great for those that receive tips. Trump says he will make the change as soon as he gets into office!

 

[RedFan]

Trump is going to change the tax code first day office? He has no such power. Only Congress can change the tax code.

 

[Rita]

This is no different to the politicians over here at the moment, dangling carrots in order to get votes. Sometimes they come through and do what they have promised, sometimes they don’t !
And, no this is not a dig at Trump, it’s a dig at how politicians work before an election !

 

[Debp]

Trump is going to change the tax code first day office? He has no such power. Only Congress can change the tax code.

His administration did it before.

https://www.stlmag.com/business/what’s-the-biggest-way-trump-changed-tax/

Sorry the link doesn't work.

 

[RedFan]

His administration did it before.

https://www.stlmag.com/business/what’s-the-biggest-way-trump-changed-tax/

Sorry the link doesn't work.

The 16th Amendment precludes such an effort by the Executive Branch without Congressional legislation..

 

[Rockerduck]

Congress did pass Trump tax code. When the democrats took over, they repealed them all; in a big ceremony.

 

[lforrest]

The 16th Amendment precludes such an effort by the Executive Branch without Congressional legislation..

Perhaps he is looking ahead to 2026 elections. He would remind everyone that Congress denied a tax break to those in the service industry.

It just seems confusing to me, the states may choose to tax even if the feds don't. Then you would be having a different income for state and federal purposes if you have tips.

Or if it is a deduction it may not affect those who don't itemize. Which would be many of the low income earners.

 

[Reggie Belafonte]

Good on Trump ! he will set it into play, that's what he is saying.

 

[BlessedPeace]

His administration did it before.

https://www.stlmag.com/business/what’s-the-biggest-way-trump-changed-tax/

Sorry the link doesn't work.

Works for me. Try this one.

How did Trump change the tax code? We asked a local expert.

Michael Cosby, a partner at Husch Blackwell and expert in tax law, explains what's happened and why.

www.stlmag.com