Trump-backed bill would eliminate taxes on tips: Here's what it could mean for you

Contributing sentiments towards policy:

55% : That's a debate that's gone on in tax policy circles for decades, says Pon.
50% : But I don't think that that's necessarily a sound way to do tax policy, to have a tax preference for one type of income.
50% : (Gains realized over less than a year are taxed as regular income.) Deciding how to collect taxes based on the incentives those policies create for taxpayers and businesses "is what tax policy is all about," Pon says.
43% : While it's unclear whether this version of the law would include a maximum deduction, another piece of legislation introduced earlier this year -- the No Tax on Tips Act -- capped the break at $25,000.

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