Trump Reportedly Considers Raising Taxes On Ultra-Wealthy Striking Rare Common Ground With Ideological Rivals Bill Gates, Bernie Sanders
Benzinga (Tue, 01-Apr 4:08 AM)
The Trump administration is reportedly contemplating a tax increase for the wealthiest Americans. The move is seen as a strategic approach to fund other policy priorities.
What Happened: White House officials are in talks about the potential of raising the income tax rate for the highest earners, as reported by Axios. This could be a trade-off for tax cuts on tips, creating room for other priorities and countering criticisms from Democrats who are looking to extend President Donald Trump‘s 2017 tax cuts.
“If we renew tax cuts for the rich paid for by throwing people off Medicaid, we’re gonna get f–king slaughtered,” the White House official told Axios.
Currently, the top income tax rate is 37%, applying to income over $609,351 for individuals ...
