US EditionTrump admin considers tax increase for rich to pay for no tax on tips
- The Trump administration is considering a tax increase for the wealthiest Americans to fund the elimination of taxes on tips, according to a report from Axios.
- During a January speech, Trump stated, 'I’m calling for no tax on tips, no tax on overtime, and no tax on Social Security benefits for our great seniors.'
- Treasury Secretary Scott Bessent warned that allowing the 2017 tax cuts to expire would cause 'economic calamity' and a potential '$4 trillion tax hike.'
- The tax cuts from 2017 reduced the top tax rate from 39.6% to 37% for high earners, affecting about 1% of taxpayers.
10 Articles
10 Articles
The Western Journal
DailyTruthReportTrump About to Flip the Script on Democrats by Raising Taxes on Richest Americans: Report
Imagine tax-cutting President Donald Trump and tax-hiking Sen. Bernie Sanders of Vermont strolling arm-in-arm through the Washington fields of tax policy. A new report says that unlikely scenario could come […] The post Trump About to Flip the Script on Democrats by Raising Taxes on Richest Americans: Report appeared first on The Western Journal.
Trump Might Let Taxes on the Rich Rise
“The Trump administration is discussing a surprising option to help fulfill his campaign-trail promises: Allowing the richest Americans’ tax rates to rise in return for cutting taxes on tips,” Axios reports. “Some White House officials believe letting income taxes on the very highest earners rise would buy breathing room on other priorities, and help blunt Democrats’ attacks as they seek to extend President Trump’s 2017 tax cuts.”
White House weighing tax hikes for rich to pay for Trump’s no tax on tips promise: report
The Trump administration may allow tax rates for the wealthiest Americans to rise in order to pay for the president’s plan to eliminate taxes on tipped wages, according to a report.
Trump official worried GOP will get 'slaughtered' if they run on 'tax cuts for the rich'
Republicans are keenly aware that their goal of extending President Donald Trump's 2017 tax cut legislation for another 10 years is unpopular with the electorate, according to a new report.In a Friday article in Axios, journalists Marc Caputo and Neil Irwin wrote that the Trump administration is mulling the idea of allowing the top tax rate on the richest Americans to go up in exchange for no longer taxing tips. Republicans emphasize that while …
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