Posted on 03/29/2025 8:26:53 AM PDT by thegagline
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.
A senior White House official suggested to Axios on Friday that letting income rates on the nation’s highest earners go back to pre-2018 levels might be the most politically palatable option to cover the cost of fulfilling President Trump’s campaign promise.
“If we renew tax cuts for the rich, paid for by throwing people off Medicaid, we’re gonna get f—ing slaughtered,” the official was quoted as telling the outlet.
The Tax Cuts and Jobs Act of 2017 lowered the income tax rate on top earners – $609,351 or more for an individual and $731,201 or more for a married couple – from 39.6% to 37% during Trump’s first term.
If the law is allowed to expire on Dec. 31, about 1% of taxpayers in the top bracket would see their rate move back up. The earnings threshold for the top bracket would also be lowered.
Some White House officials, according to Axios, believe that a GOP-led reversal on taxes would allow the Trump administration to turn the tables on Democrats, who have long called for higher levies on the wealthy and have attacked the president and Republicans for wanting to extend the 2017 tax cuts. ***
While the GOP under Trump has catered more to working-class voters than in the past, raising taxes would fly in the face of conservative economic principles.
Congressional Republicans are already moving forward with plans to raise the nation’s debt limit by trillions of dollars and pass Trump’s border, energy and tax priorities by Memorial Day.
***
(Excerpt) Read more at nypost.com ...
1) An anonymous sourced article may be a trial balloon or fiction.
2) The byzantine tax code, which is largely designed by lobbyists and corrupt politicians, should be replaced by a flat tax- no deductions, no credits, and everyone would have skin in the game.
WHAT IS RATIONAL FOR NO TAX ON OVERTIME? ANYONE KNOW?
“according to a report” ... from Axios ...
no need to read propaganda any further ...
Steve Forbes has been advocating his Post Card size Form 1040 for years now. To little avail. Perhaps now is the time for the Trump Admin to bring it forward?
No more filing with the IRS every year either. At least not with individuals and maybe small businesses. If someone is not getting any government entitlements, what business is it of theirs how much money we make?
No flat income tax ... No income tax at all ... It is nobody’s business what anyone earns ...
Why tax the rich? Why not tax the DemonRAT “donors” who are working on another billion bucks like Kamala lost for the RATS to buy the 2026 midterms.
Even more so as you're making over $200,000.
So they believe that we should expand the size of our government, they should pay more for it.
And yes, that means increasing their taxes.
Dunno. The whole thing of singling out tips and overtime combined with class warfare sounds silly to me but that politics I guess.
Just reduce spending and taxes across the board and everyone benefits.
If this “official” actually exists he or she needs to be fired. If the quotes are accurate this person is a Democrat. That is how they talk.
Didn’t vote for Middle East wars or higher taxes.
Expect bad things.
Oh goody, another FAIR taxer, another fan of a black market?
It's nobody's business how anyone spends, either.
Even more so as you're making over $200,000.
What is the basis or foundation for that statement?
Throw in some socialism!
It's good politics for Trump to want to increase taxes on Lawyers and Government workers.
Trump is not a conservative. He's a populist. I do not agree on everything he is doing especially on tariffs and somewhat on taxes. But he has my support in doing what he needs to do.
Tax Hollywood.
Not if those people are illegal aliens.
I wonder if anybody, DOGE included, has a handle on medicaid fraud numbers.
I like the simplicity of the flat tax. Plus everyone should have skin in the game, as you noted. But everyone should also feel the same pain when paying taxes.
Here’s what I mean. Let’s say it’s a flat tax of 15%. That bite will affect the lifestyle of someone making $25,000 a year. But someone making $1 million wouldn’t even feel it.
That doesn’t seem right. Perhaps a national sales tax is the way to go. Plus carefully applied tariffs.
Trump turned off folks like Mitt Romeny, Paul Ryan, George W. Bush.
Instead, Trump was able to get the votes from the working class votes.
We used to have the "Country Club" wing in the Republican Party. Now they're all Democrats.
Funny how the third greatest president ever, Ronald Reagan (Washington #1 and Lincoln #2) managed to get a simple TAX CUT with zero gimmicks through a majority Democrat House and a majority Republican Senate. The vast majority that tax cut structure exists still.
Donald Trump is a good, maybe a great president. When I see little things like this, we have to raise taxes on the rich to “pay for” no taxes on tips, that’s when I know that the Deep State types are meddling with what should be simple legislation.
For the 2nd time, President Trump has a Republican majority in BOTH THE HOUSE AND THE SENATE. The last time, 2017-2018, produced nothing important and produced a tax cut that got rid of a lot of deductions.
Still feel like we’re winning?
Oh, and for the Reagan haters here who will be quick to bleat, bUT aMnEsTy !!!!! - just stuff it, Reagan haters.
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