FOX Business' Stuart Varney analyzed Donald Trump's plan to make Social Security payments tax-free for senior citizens and his 'no tax on tips' policy.
During his "My Take," Thursday, "Varney & Co." host Stuart Varney discussed Trump's plan to make Social Security benefits tax-free and his "no tax on tips" policy, arguing the proposals might be vote buying, but it's smart politics in an election year.
STUART VARNEY: Two tax cut proposals from Donald Trump. He knows how to appeal to important groups of voters.
Trump suggests dropping taxes on social security benefits. That's a radical proposal.
TRUMP DECLARES SENIORS SHOULD NOT PAY TAXES ON SOCIAL SECURITY
About 67 million people are on social security. About 30 million pay tax on their benefits. Think about that.
Seniors vote in large numbers. Offering 30 million likely voters a tax cut is a powerful incentive to vote for Trump.
Obvious question; How's it going to be paid for? Trump has an interesting answer.
He told our own Laura Ingraham that the tax cut would bring closer the time when Social Security runs out of money, and that he says will force Congress to do something about it.
"We're not going to do anything to hurt our seniors" Trump said, "but we'll cut your taxes."
Second suggestion; "No tax on tips." Another radical idea that appeals to a large group of voters. It plays well in Las Vegas.
In fact, the two Democratic senators from Nevada have both endorsed "no tax on tips." If that's not a working-class vote getter, what is?
Trump has always had a knack for politics. He can read the room. He senses the need for an easy-to-understand policy, and that's what he's doing.
No tax on Social Security benefits. "No tax on tips." Got that.
You can call it vote buying. You can call it financially irresponsible, but you can also call it smart politics in an election year.
