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No tax on tips: Why politicians love it, and economists don't

Presidential nominees Harris and Trump say they want to stop taxing tips, but how would that work?

"It is my promise to everyone here, when I am president, we will continue to fight for working families, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers," Harris told a crowd at the University of Nevada in Las Vegas on Saturday. "As president, she would work with Congress to craft a proposal that comes with an income limit and with strict requirements to prevent hedge fund managers and lawyers from structuring their compensation in ways to try to take advantage of the policy," the official, who isn't authorized by the campaign to speak publicly, said. "As the largest organization of working women in Nevada, the chance to elect the first woman president of the USA is both energizing and historic and we are ready to make history together," the union said in a statement over the weekend.

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