Saturday, July 26, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Trump Reveals Plan to Renew Tax Cuts and Eliminate Tip Tax

by SB Crypto Guru News
January 6, 2025
in Ethereum
Reading Time: 2 mins read
0 0
A A
0


KeyTakeaways: 

  • Trump plans to renew the historic tax cuts and abolish the tip tax.  
  • His energy plan seeks to create jobs while reducing carbon emissions.  
  • Critics warn that tariffs could raise costs for U.S. consumers.  

President-elect Donald Trump has laid out plans for his first day in office, including a proposal to renew the Trump tax cuts and abolish the tax on tips. In a post on X, Trump emphasized that eliminating taxes on tips would allow service workers to keep the full amount of their earnings, potentially boosting their income without increasing their tax burden. 

Members of Congress are getting to work on one powerful Bill that will bring our Country back, and make it greater than ever before. We must Secure our Border, Unleash American Energy, and Renew the Trump Tax Cuts, which were the largest in History, but we will make it even…

— Donald J. Trump (@realDonaldTrump) January 6, 2025

He believes that by lifting the tax on tips, service industries could see increased gratuity, benefiting workers and businesses alike. 

However, the president-elect plans to offset the lost revenue from the tips tax abolition with increased tariffs on countries historically benefiting from U.S. trade imbalances.

The tax cuts Trump seeks to renew are among the largest in U.S. history. They include reducing the corporate income tax rate to 21%, provisions for pass-through income deductions, and revised international tax rules. Additionally, Trump’s plan would eliminate personal and dependent exemptions and the corporate alternative minimum tax. 

This tax overhaul aims to create a more progressive and equitable tax code, ensuring that higher-income individuals and profitable corporations contribute a greater share of government revenue.

Trump also unveiled plans to stimulate American energy production, stating that it would create jobs and reduce carbon emissions. His energy vision centers on making energy more affordable and reliable while also lowering the U.S. carbon footprint to the lowest level in 25 years. 

By embracing tariffs, Trump seeks to protect U.S. industries from foreign competition, although critics warn that tariffs could raise the cost of goods for consumers and potentially disrupt global trade.

Economists like Kimberly Clausing from the Peterson Institute have raised concerns about the effects of tariffs, predicting that they could lead to higher costs for U.S. consumers, especially those in lower and middle-income brackets. 

The Peterson Institute estimates that Trump’s proposed tariffs on Chinese imports could cost a typical American household an additional $1,700 annually. Other organizations, such as the Center for American Progress, predict similar financial burdens for U.S. consumers.





Source link

Tags: Bitcoin NewsCrypto NewsCrypto UpdatesCutseliminateLatest News on CryptoplanRenewRevealsSB Crypto Guru NewsTaxtipTrump
Previous Post

Ripple’s XRP Ledger Integration Could Boost Market Cap by $64 Billion in Japan

Next Post

Crypto trading firm GSR secures FCA approval

Related Posts

Allocation Update – Q2 2025

Allocation Update – Q2 2025

by SB Crypto Guru News
July 23, 2025
0

Community & educationAppconSliceEvent designed to introduce Ethereum applications and experiences to a non-crypto audience, hosted during Milan Design Week in...

Ethereum just hit an all-time high in daily gas usage!

Ethereum just hit an all-time high in daily gas usage!

by SB Crypto Guru News
July 22, 2025
0

149,673,860,000 gas used on July 21, 2025 - the most ever recorded in a single day. Let’s break down what...

ETH is Programmable Money (link fixed)

ETH is Programmable Money (link fixed)

by SB Crypto Guru News
July 20, 2025
0

(reposted bc link was missing) Wrote a quick essay on ETH's main value proposition: Programmable Money. There's a little too...

how to transfer eth from main net to immutable zkevm

how to transfer eth from main net to immutable zkevm

by SB Crypto Guru News
July 19, 2025
0

I want to move eth from main net to immutable zkevm, so i am using layerswap for it but the...

We Analyze Which Blockchain is Best for Developers: Ethereum or Solana

We Analyze Which Blockchain is Best for Developers: Ethereum or Solana

by SB Crypto Guru News
July 13, 2025
0

Blockchain developers must choose between Ethereum and Solana; this decision will determine a project’s cost, speed, and technical feasibility. Ethereum...

Load More
Next Post
Crypto trading firm GSR secures FCA approval

Crypto trading firm GSR secures FCA approval

XRP Price Sets Bullish Flag Continuation On The Daily Chart, Next Stop ?

XRP Price Sets Bullish Flag Continuation On The Daily Chart, Next Stop $10?

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.