President Trump said he would be “OK” with a higher tax rate on the wealthy, but Republicans in Congress should probably scrap the idea as they work to pass his “big, beautiful bill.”
Mr. Trump said in a social media post Friday that 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.”
The president was referring to a quote by former President George. H.W. Bush, who said, “Read my lips: no new taxes.”
He later broke that pledge when taxes were raised to help address the national budget deficit.
Mr. Trump said in the post that, “NO, Ross Perot cost him the Election!”
“In any event, Republicans should probably not do it, but I’m OK if they do!!!” he wrote.
Reports have said Mr. Trump has discussed raising the taxes on the rich with Speaker Mike Johnson, Louisiana Republican, changing the rate for the highest earning Americans — those earning over $2.5 million annually — from 37% to 39.6%.
Just last month, Mr. Trump said in the Oval Office that a tax on millionaires would be “very disruptive” and cause them to “leave the country.”
“In the old days, they left states. They’d go from one state to the other. Now, with transportation so quick and so easy, they leave countries,” Mr. Trump said.
