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Trump Urges GOP To Raise Taxes On The Wealthy To Fund Economic Agenda
Posted on 5/8/25 at 4:36 pm
Posted on 5/8/25 at 4:36 pm
"President Donald Trump is urging Republican lawmakers to raise taxes on some of the wealthiest Americans as part of his sweeping new economic package - a move that US Commerce Secretary Howard Lutnick says he's 'in favor' of doing.
According to individuals familiar with the discussions, Trump is pushing for the creation of a new 39.6 percent tax bracket for individuals earning at least $2.5 million annually or couples making $5 million. The current top rate stands at 37 percent. If enacted, the measure would restore the top marginal rate to its pre-2017 level, effectively rolling back a key piece of President Trump’s own first-term tax cuts.
According to Bloomberg, Trump made his case in a phone call Wednesday with House Speaker Mike Johnson, where he also reiterated support for ending the carried interest tax break - a longstanding benefit claimed by private equity and venture capital managers, one source said."
According to individuals familiar with the discussions, Trump is pushing for the creation of a new 39.6 percent tax bracket for individuals earning at least $2.5 million annually or couples making $5 million. The current top rate stands at 37 percent. If enacted, the measure would restore the top marginal rate to its pre-2017 level, effectively rolling back a key piece of President Trump’s own first-term tax cuts.
According to Bloomberg, Trump made his case in a phone call Wednesday with House Speaker Mike Johnson, where he also reiterated support for ending the carried interest tax break - a longstanding benefit claimed by private equity and venture capital managers, one source said."
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Posted on 5/8/25 at 4:38 pm to John Barron
So now Trump is doing Democrat things?
Posted on 5/8/25 at 4:38 pm to John Barron
quote:
According to individuals familiar with the discussions
Every. Single. Time
Posted on 5/8/25 at 4:39 pm to back9Tiger
quote:
So now Trump is doing Democrat things
It is actually a genius political move by Trump. Takes away the Dems favorite talking point about Trump helping Millionaires. Very good for Midterms. Democrats in shambles
Posted on 5/8/25 at 4:40 pm to John Barron
And just like that the left will be opposed to higher taxes on the wealthy
Posted on 5/8/25 at 4:40 pm to John Barron
I thought of that, but Democrats will find something else. You can't neuter the Democrat Party when they have no balls to begin with.
Posted on 5/8/25 at 4:41 pm to back9Tiger
quote:
So now Trump is doing Democrat things?
That was yesterday.
The Democrats will now come out in favor of ending taxes for anyone making over $400.000 per year.
Posted on 5/8/25 at 4:42 pm to FredBear
quote:
And just like that the left will be opposed to higher taxes on the wealthy
Correct. Just like they were defending Corporations having to pay more because of the Tariffs. Trump constantly shows them as hypocrites and playing off their back foot
This post was edited on 5/8/25 at 4:44 pm
Posted on 5/8/25 at 4:43 pm to John Barron
Good
The only people that should pay taxes are the rich and “poor” people
Everyone else is essentially in poverty but people that make more than 2.5 mil and people on food stamps eat lobster every night
The only people that should pay taxes are the rich and “poor” people
Everyone else is essentially in poverty but people that make more than 2.5 mil and people on food stamps eat lobster every night
Posted on 5/8/25 at 4:43 pm to FredBear
quote:
And just like that the left will be opposed to higher taxes on the wealthy
The Republicans adopt the Democrats agenda to own the libs. And everyone votes in unison.
Genius!
Posted on 5/8/25 at 4:44 pm to John Barron
Grok estimates 85,000 people made $2.5 million income or more last year.
Posted on 5/8/25 at 4:45 pm to FredBear
quote:
And just like that the left will be opposed to higher taxes on the wealthy
Will be fascinating to behold.
Posted on 5/8/25 at 4:46 pm to John Barron
Posted on 5/8/25 at 4:48 pm to GumboPot
quote:
Grok estimates 85,000 people made $2.5 million income or more last year.
That is why this is a genius political move. Politically Insignificant amount paying 2% more while taking away the Democrats favorite talking point that Trump is only looking out for Millionaires
Posted on 5/8/25 at 4:50 pm to John Barron
1) I question if this is true given the sources.
2) if it is, he probably doesn’t care because the ultra wealthy, while in high brackets, don’t pay anywhere near that. The tax code is thousands of pages and riddled w loopholes.
Remember in the 2016 debate when he said “I don’t pay taxes because I’m smart”? That wasn’t an exaggeration and not unique to him.
2) if it is, he probably doesn’t care because the ultra wealthy, while in high brackets, don’t pay anywhere near that. The tax code is thousands of pages and riddled w loopholes.
Remember in the 2016 debate when he said “I don’t pay taxes because I’m smart”? That wasn’t an exaggeration and not unique to him.
Posted on 5/8/25 at 4:52 pm to mwade91383
quote:
mwade91383
Yes we know you Liberals hate this news. Trump is the man of the people. Lots of Cope and Seethe is about to take place
Posted on 5/8/25 at 4:52 pm to back9Tiger
quote:
So now Trump is doing Democrat things?
If a democrat was elected the tax cuts would expire and all of our taxes go up. This is for certain.
Trump said before he wanted to make the tax cuts permanent. So we will just have to wait and see.
Posted on 5/8/25 at 4:53 pm to John Barron
Fake news.
Posted on 5/8/25 at 4:53 pm to back9Tiger
quote:
So now Trump is doing Democrat things?
Yes.
Posted on 5/8/25 at 4:53 pm to John Barron
It’s weird how obsessed you are w social media influencers.
But since we’re here, what did I say that was wrong?
But since we’re here, what did I say that was wrong?
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