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Scoop: Trump might let taxes rise for the rich to cover breaks on tips

Discussion in 'Too Hot for Swamp Gas' started by G8tas, Mar 28, 2025 at 7:46 PM.

  1. Mar 28, 2025 at 7:46 PM #1
    G8tas

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    The Trump administration is discussing a surprising option to help fulfill his campaign-trail promises: Allowing the richest Americans' tax rates to rise in return for cutting taxes on tips, a senior White House official tells Axios.

    The big picture: Some White House officials believe letting income taxes on the very highest earners rise would buy breathing room on other priorities, and help blunt Democrats' attacks as they seek to extend President Trump's 2017 tax cuts.

    • Officials say all discussions are preliminary and nothing is set in stone.


    https://www.axios.com/2025/03/28/trump-taxes-wealthy

    I'd be on board with this if the end goal was to fund SS
     
    • Informative Informative x 1
  2. Mar 28, 2025 at 8:02 PM #2
    VAg8r1

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    Will probably never happen. In the end Trump's first loyalty is to his mega-campaign donors.
     
    • Agree Agree x 2
  3. Mar 29, 2025 at 2:23 PM #3
    l_boy

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    yeah but he wants to end taxes on social security, which go to fund….social security.
     
  4. Mar 29, 2025 at 2:43 PM #4
    docspor

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    this is weird. I suspected that the vast majority of those who "pay" taxes on tips don't really pay taxes on tips as they get it back via refund. I just looked it up & it looks like not taxing tips would reduce taxes by 10b a year. That sounds like a nothing burger to me. Also, given that, it is a pretty shred political move to not tax tips.
     
  5. Mar 31, 2025 at 8:27 AM #5
    slocala

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    This is a massive shift. The pubs are going to raise taxes on the wealthy. 100%. Sen Jon Husted doing the rounds this am flat out said he supports this. They are just a bunch of yes men. LOL.
     
  6. Mar 31, 2025 at 10:03 AM #6
    BLING

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    Populist pandering is all it amounts to. I’d wonder if the people who get those refunds even understand they effectively don’t pay taxes on tips already? Probably not. That’s why pandering to rubes works so easily.

    So much for all the people who supposedly wanted a “fair tax”. I’m guessing the main result of this will be for people to try to game the system so that current $10B magically becomes $50B or $100B.