Friday, September 18, 2026
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
  • Home
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us
No Result
View All Result
Smart Again
No Result
View All Result
Home Trending

Trump Waffles on Raising Taxes on the Rich, Facing Pushback From His Party

May 10, 2025
in Trending
Reading Time: 4 mins read
0 0
A A
0
Trump Waffles on Raising Taxes on the Rich, Facing Pushback From His Party
Share on FacebookShare on Twitter


President Trump on Friday publicly waffled over whether Republicans in Congress should embrace a tax increase on the rich, underscoring his differences with members of his own party on what should be in a megabill to carry out his agenda.

Mr. Trump on Wednesday had privately urged Speaker Mike Johnson to create a higher tax bracket for those making more than $2.5 million a year. He also told the top Republican that he supported closing what is known as the carried interest loophole, which allows hedge fund, private equity and venture capital executives to pay taxes of only about 20 percent on their profits, which is about half the top income tax rate.

But on Friday morning, he appeared to retreat from those ideas, saying a tax hike could hurt the G.O.P. politically.

“The problem with even a ‘TINY’ tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, ‘Read my lips,’ the fabled Quote by George Bush the Elder that is said to have cost him the Election,” Mr. Trump wrote on his social media website, Truth Social. “Republicans should probably not do it, but I’m OK if they do!!!”

Hours later during a late afternoon event at the White House, he delivered a far different message, saying he would “love” to do it as a “redistribution” of wealth to lower earners, and thought it would be good for Republicans politically.

The whipsawing messages further complicated Republicans’ job as they toil to put together a domestic policy bill they hope to push through Congress this year. Divisions within the party over potential cuts to Medicaid and other popular social programs to pay for it, and which tax reductions to include, have delayed the drafting of the package and threaten to sap support for it. And Mr. Trump’s abrupt and sometimes fleeting demands for the bill have hung over the talks, with G.O.P. lawmakers reluctant to cross him but uncertain of where he will ultimately stand.

Mr. Trump is not constitutionally eligible to run for another election, unlike President George H.W. Bush, who was famously accused of breaking his campaign pledge not to impose new taxes.

But Republicans are already facing blowback over Mr. Trump’s first four months in office, well ahead of the midterm congressional elections. And many do not want to take a vote that would be used by Democrats as a weapon against them.

His social media post equivocating on the idea of raising taxes on the rich left the president an out should Republicans balk.

But during an Oval Office event late Friday that was attended by some Republican House members, Mr. Trump told a reporter that he strongly supported an increased top tax rate and made the case that it would help rather than hurt the G.O.P. with voters.

“I would love to do it, frankly,” Mr. Trump told reporters.

“You’re giving up something up top in order to make people in the middle-income, and the lower-income brackets, save more. So it’s really a redistribution, and I’m willing to do it if they want,” Mr. Trump said. He appeared to be referring to the House Republicans who were present.

“But I don’t think they’re going to be doing it,” Mr. Trump said seconds later. “But I actually think it’s good politics to do it, where richer people give up — and it’s a very small, it’s like a point — but they give it up to benefit people that are lower income.”

On Wednesday, Mr. Trump spoke with Grover Norquist, the anti-tax crusader who has for decades pushed for candidates to sign a pledge against new taxes, to urge his support for the idea of raising taxes on top earners. Some of the president’s aides suggested that doing so wouldn’t technically violate Mr. Norquist’s anti-tax pledge, according to two people briefed on the call who were not authorized to speak publicly.

A White House spokesman said only that officials don’t discuss Mr. Trump’s private conversations.

Mr. Norquist, in a brief interview when he was reached overseas, declined to discuss what Mr. Trump had said about the idea.

But he said he told Mr. Trump that, “raising the top rate will kill jobs.”

“Raising the top rate will slow the economy,” he said. “And raising the top rate will mostly hit small businessmen and women who have pass-through corporations.” He said he underscored that his group had previously supported Mr. Trump’s campaign language about tax cuts.

Mr. Norquist posted a similar thought on the website X the same day as the call.

He said he separately told the White House that his group, Americans for Tax Reform, has “not stated a position on any hypothetical on the pledge, which we don’t do unless we’ve seen it in writing.”



Source link

Tags: Capital Gains TaxDeductions and ExemptionsDonald JfacingHigh Net Worth IndividualsJohnsonMike (1972- )PartypushbackRaisingRepublican PartyRichTax CreditsTaxationtaxesTrumpUnited States Politics and GovernmentWaffles
Previous Post

She was arrested for an op-ed. Now a judge has ordered her freed.

Next Post

Florida Senate Decides Exploiting Child Labor Instead Of Migrants Not Good!

Related Posts

Trump Uncorked A Deranged Midnight Explosion On ‘Dirty Dogs’
Trending

Trump Uncorked A Deranged Midnight Explosion On ‘Dirty Dogs’

September 18, 2026
The wildfire danger we’re only just beginning to understand
Trending

The wildfire danger we’re only just beginning to understand

September 18, 2026
RFK Jr Believes Chemtrails Are Real
Trending

RFK Jr Believes Chemtrails Are Real

September 17, 2026
Trump puts himself on the ballot
Trending

Trump puts himself on the ballot

September 17, 2026
Braindead Sen. Blackburn: The Commies Are Coming!
Trending

Braindead Sen. Blackburn: The Commies Are Coming!

September 17, 2026
Trump Goes To North Carolina To Help Republicans—Then Trashes The State
Trending

Trump Goes To North Carolina To Help Republicans—Then Trashes The State

September 17, 2026
Next Post
Florida Senate Decides Exploiting Child Labor Instead Of Migrants Not Good!

Florida Senate Decides Exploiting Child Labor Instead Of Migrants Not Good!

A United Front for Pope Leo Among American Cardinals

A United Front for Pope Leo Among American Cardinals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
JB Pritzker Sets Trump And Kristi Noem Up For Halloween

JB Pritzker Sets Trump And Kristi Noem Up For Halloween

October 30, 2025
The end of free tax filing, briefly explained

The end of free tax filing, briefly explained

November 5, 2025
There’s more than one empathy crisis

There’s more than one empathy crisis

March 30, 2026
The one-sided intimacy of being a fan

The one-sided intimacy of being a fan

August 29, 2025
Smartphones broke dating. AI might finish the job.

Smartphones broke dating. AI might finish the job.

June 8, 2026
Meet the educational entrepreneurs who want to teach a new generation of Elon Musks

Meet the educational entrepreneurs who want to teach a new generation of Elon Musks

March 21, 2025
“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

“They stole an election”: Former Florida senator found guilty in “ghost candidates” scandal

0
The prime of Dame Maggie Smith is a gift

The prime of Dame Maggie Smith is a gift

0
The Hawaii senator who faced down racism and ableism—and killed Nazis

The Hawaii senator who faced down racism and ableism—and killed Nazis

0
The murder rate fell at the fastest-ever pace last year—and it’s still falling

The murder rate fell at the fastest-ever pace last year—and it’s still falling

0
Trump used the site of the first assassination attempt to spew falsehoods

Trump used the site of the first assassination attempt to spew falsehoods

0
MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

MAGA church plans to raffle a Trump AR-15 at Second Amendment rally

0
Trump Uncorked A Deranged Midnight Explosion On ‘Dirty Dogs’

Trump Uncorked A Deranged Midnight Explosion On ‘Dirty Dogs’

September 18, 2026
The wildfire danger we’re only just beginning to understand

The wildfire danger we’re only just beginning to understand

September 18, 2026
RFK Jr Believes Chemtrails Are Real

RFK Jr Believes Chemtrails Are Real

September 17, 2026
Trump puts himself on the ballot

Trump puts himself on the ballot

September 17, 2026
Braindead Sen. Blackburn: The Commies Are Coming!

Braindead Sen. Blackburn: The Commies Are Coming!

September 17, 2026
First Cory Mills’ career imploded—then his grenade factory exploded

First Cory Mills’ career imploded—then his grenade factory exploded

September 17, 2026
Smart Again

Stay informed with Smart Again, the go-to news source for liberal perspectives and in-depth analysis on politics, social justice, and more. Join us in making news smart again.

CATEGORIES

  • Community
  • Law & Defense
  • Politics
  • Trending
  • Uncategorized
No Result
View All Result

LATEST UPDATES

  • Trump Uncorked A Deranged Midnight Explosion On ‘Dirty Dogs’
  • The wildfire danger we’re only just beginning to understand
  • RFK Jr Believes Chemtrails Are Real
  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again 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
  • Trending
  • Politics
  • Law & Defense
  • Community
  • Contact Us

Copyright © 2024 Smart Again.
Smart Again is not responsible for the content of external sites.

Go to mobile version