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jeffw@lemmy.worldM to News@lemmy.world · 1 year ago

The 2025 tax war starts early as Harris and Trump vie over child credit

www.semafor.com

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The 2025 tax war starts early as Harris and Trump vie over child credit

www.semafor.com

jeffw@lemmy.worldM to News@lemmy.world · 1 year ago
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The 2025 tax war starts early as Harris and Trump vie over child credit | Semafor
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What price gouging plan? Both candidates are focused on tax benefits for parents, as the Trump camp eyes JD Vance’s proposed expansion.
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    1 year ago

    Harris’ ‘no tax on tips’ plan is specifically about service workers.

    Trump’s ‘no taxes on tips’ plan is based on Ted Cruz’s plan which defines “tip” so loosely it can apply to hedge fund managers.

    https://www.americanprogress.org/article/sen-ted-cruzs-no-tax-on-tips-act-does-little-for-low-and-moderate-wage-workers-but-opens-door-to-tax-abuse-by-wealthy/

    Harris’ plan still gives no tax relief to the vast majority of workers, but there are so many really low-paid service workers that are expected to make up their very low, if not legally below minimum, wages in tips that I can’t really get too worked up about unfairness like that.

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