Media Claims That Trump Backs Tax Hike on Millionaires as Part of His "Big Beautiful Tax Bill;" Trump Says "No, I Don't"

I don't know if this was a real trial balloon or just another completely fabricated Democrat op.

Fox is claiming that "White House aides" floated the idea of creating a new highest income tax bracket for the wealthiest tax payers of something like 38%.

Rep. Dan Meuser, a Pennsylvania Republican, is supporting the White House's proposed tax hike for people making more than $1 million.

"I believe we must help the President deliver on his promise of a tax and regulatory plan that supports pro-American economic and manufacturing growth, and delivers for the vast majority of Americans -- while creating savings and promoting fiscal responsibility. Any adjustments in taxes to accomplish these goals should be considered," Meuser told Fox News Digital in a statement on Tuesday.

Last week, White House aides began quietly floating a proposal to House Republicans that would raise the tax rate to 40% for Americans making more than $1 million, sources told Fox News Digital about the preliminary discussions. The plan would shore up income to fund President Donald Trump's ambitious campaign promises to eliminate taxes on overtime, tips and Social Security.

On Thursday, Meuser said on "Mornings with Maria" that he suggested a less than 2% tax hike for the "wealthy, high-end income" tax bracket months ago. He noted that Trump's 2017 Tax Cuts and Jobs Act lowered the top tax rate from 39.6% to 37%, so raising it to 38.6% would still keep it below the pre-TCJA level by nearly one percentage point.

I don't know if support that or oppose it. I'm always against taxing "The rich" more, as they already pay the bulk of taxes.

But then, the rich keep voting for Democrats and keep voting against America and against American citizens, so sometimes I think: You want Democrat levels of taxation? You got it.

But we don't have to have this debate because Trump says he doesn't back any increases in taxes for any American citizen.

President Donald Trump appeared to rule out a proposal to raise taxes on millionaires, arguing they would flee the country over the policy.

"I think it would be very disruptive because a lot of millionaires would leave the country," Trump told reporters in the Oval Office on April 23. "You'll lose a lot of money if you do that."

Trump allies such as Steve Bannon have supported raising taxes on the rich, but the president hadn't taken a position. Trump has suggested tariffs could potentially replace the income tax, even though economists warn that tariffs raise far less revenue and fall harder on lower-income households.

Some of you young readers may, like myself, not remember the Reagan Administration, because all of us 29-year-olds weren't born back then and wouldn't be born until the year 2000 or whatever.

But the Reagan White House, especially in its first few years, was a place of intrigue, as different factions attempted to hijack the Reagan agenda for themselves. Back then, it was mostly left-leaning Rockefeller Republicans who were attempting to restrain and contain Reagan and do some unauthorized policy freelancing.

The same thing is going on in the Trump White House, but there are fewer liberal Republicans, of course. It's a fight between Disruptors and Gradualists, the softer MAGA types who want change but who cringe at the thought of actually burning everything down.

And while I get the idea of punishing the rich, who largely don't vote with us any more, I'm a little concerned about where all of this ends up. Do we want to drive away all old-school Republicans? Do we really want to completely swap the old Republican base for the old Democrat base?

That does seem to be the plan pushed by some. But you know, as much as I get frustrated with scaredy-cat, smugly complacent old Republican base, I never loved the Democrat base all that much, either, and I'm not looking forward to the kinds of soft socialist policies we'd wind up pursuing if the party because majority working class Democrat.

posted by Ace at 03:18 PM

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