The Impact of Tax Breaks on Tipping Culture and Government Revenue

Republicans’ newly passed tax and spending law makes good on a promise President Trump made over and over on the campaign trail: No Tax on Tips and Overtime. But the change likely won’t have the drastic impact many workers think it will. Marketplace’s Kristin Schwab joins us on the show today to break down the nuts and bolts of how the tax breaks will work and how American workers and businesses could be affected. Plus, Kimberly’s cat Artax makes an appearance.

Here’s everything we talked about today:

• "How the new "No Tax on Tips" and overtime laws work" from Marketplace 
• "No Tax On Tips And Overtime: What Workers Should Know" from Bankrate
• "Here’s A Tip: ‘No Taxes on Tips’ May Be Good Politics But Is Bad Policy" from the Tax Policy Center

• “An Illustrated Guide to Who Really Benefits From ‘No Tax on Tips’” from The New York Times

  
  

  Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 Pacific/6:30 Eastern. See you then!