“No it’s not President Trump.”
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It is if he signs the bill keeping the 39.6 percent top rate on top earners, i.e., the successful business owners who create jobs and keep the economic engine running.
On Rush’s show today, he played a clip of Trump saying he didn’t want to be seen as defending or representing “rich” people. Funny, I thought a president was supposed to represent ALL the people.
Trump in the clip quoted his friend Robert Kraft. (I’m surprised the president is still friends with Kraft after Kraft’s comments defending the kneegroes and blaming the president for introducing politics into sports, which the president did not).
Anyway, Kraft said don’t give me a tax cut....give it to the middle class. Right....do the words “taxpayer funded stadiums” mean anything to you, Mr. Kraft?” There is a world of difference between men like Donald Trump and Robert Kraft, who have been multi-billionaires for many years, and a middle class person who starts a successful business and just recently became a millionaire with a net worth of $1 million - $10 million.
At least bring back income averaging.
It just perpetuates the RAT scam of demonizing the successful and punishing them for their success.
During the campaign, Trump spoke of a top tax rate of 20 - 25%. I guess that campaign promise is out the window.
P.S.: I am NOT one of these millionaires, unfortunately, but I aspire to be. I also don’t like ceding socialist tax policy to the democrats or joining them in their demonization of the successful.
The Wealthy are wealthy primarily because of income from inherited capital. They can earn about 2% more per year than the ordinary rate of return on capital. Around 70% of total income of the rich comes from income from capital.
There are two economies in this nation. One operates under Free Enterprise and competition, and the other is Monopoly Capitalism which competes by different rules including bribery of politicians.
Trump is not writing this tax bill but he is not going to veto it if the top rate remains the same in order to get a bill passed. Sixteen hundred people in the Super Rich versa hundreds of millions is an easy call.