GOP-Friendly CEOs ‘Laughed’ As Trump Boasted of How His Plan to Cut Taxes on Tips Is Exciting Voters

Former President Donald Trump reportedly elicited laughter from dozens of CEOs during a recent meeting when he boasted of his plan to stop taxing service industry workers’ tips.

CNBC’s Brian Schwartz detailed the Thursday meeting, reporting that “Trump told the CEOs a story about how excited tipped workers were about his proposal not to tax tipped wages, and the corporate leaders laughed, said people who were in the room.” Schwartz summed up the meeting, writing, “Trump huddled with at least 80 CEOs with a pitch of how taxes are going to be cut and business regulations will be curtailed if he is elected president.”

Trump spoke at a Las Vegas rally last Sunday and told his crowd of supporters that the “first thing” he would do if reelected is end collecting federal taxes on tips.

“For those hotel workers and people that get tips, you’re going to be very happy. Because when I get to office, we are going to not charge taxes on tips,” Trump declared in the key swing state.

CBS News’s Olivia Rinaldi later reported for CBS on the rally and noted, “I did talk with some hotel workers yesterday, some service workers here in Las Vegas about how that is playing with them. And Anne-Marie about six people told me that would change their vote. That is enough to make them switch from voting Democrat to Republican if Donald Trump is promising something like that to them.”

Trump’s 2024 campaign quickly shared Rinaldi’s report online and boasted of Trump’s success in courting voters with the plan.

Experts have warned Trump’s plan can’t practically be enforced, at least not in a way to have its desired impact. “The potential effect is that the average person is no better off, except the argument would be that they might be better off because it’s not taxed, but the tax savings they would get will be captured by the employer who’s lowered their pay,” Steven Bank, a tax-law expert and professor at the UCLA School of Law told Insider.

Trump also would need Congress to legislate such a sweeping change to the federal tax code, meaning the GOP would need to win both Houses in November.

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