Posted on 04/20/2025 4:40:59 AM PDT by karpov
A popular knock on this second Donald Trump term is that the president stocked his administration with nothing but saluting loyalists. Tell that to the staffers scheming to undercut his signature tax reform—by “managing” him into surrendering to the left’s favorite talking point.
A (delighted) mainstream media several weeks ago started writing stories about a new Republican interest in raising taxes on “the rich”—namely hiking the top individual tax rate from 37% to 40%, higher than even under Barack Obama. These reports all come from anonymous White House officials, and always take care to insinuate Mr. Trump is “open” to this idea—despite his never saying so.
It doesn’t take a genius to sniff an obvious effort to manipulate the president. Especially as it grows clear that many in Mr. Trump’s “new right” are more interested in using their Trump-provided perches to realize their own ambitions than they are in serving the chief. That includes class-warfare populists who find Mr. Trump’s instinct for pro-growth tax policy tiresome.
So they plant stories hinting that GOP lawmakers need to get on board with a new Trump tax direction, then present that engineered response to Mr. Trump as proof of a partywide movement. They lack the backbone to make their case publicly.
Sources say this whisper campaign appears to be emanating from the White House Office of Legislative Affairs, headed by James Braid, who worked as JD Vance’s Senate chief of staff. Sen. Vance fashioned himself an economic slayer of titans, and though he failed to move many colleagues to his cause, he has since landed a job that offers a lot more levers.
It’s a grave disservice to Mr. Trump politically and economically.
(Excerpt) Read more at wsj.com ...
World Street Journal is not what it used to be.
a 3% increase? Go for it- it’ll push the rats numbers down even further.
What is the definition of “millionaire?” Annual income above one million? There is a lot of talk of billionaires these days. I assume that is based on net worth. Net worth above one million is not uncommon. A million dollars isn’t what it used to be.
What is the current tax, either average or marginal? What is proposed? This is a topic that is amenable to math, which seems to be lacking in this article.
“Millionaire” tax is misleading...the top tax bracket (37%) kicks in at $625K:
https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025
https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets
I think that President Trump is smart enough not to allow himself to be isolated from the daily life of America, as most former presidents have willingly done.
Isolating oneself relieves the tremendous pressure, especially for the weakest presidents, like Biden, where they sit back and enjoy the perks of the office without taking responsibility for the decisions made in their name.
Staffers may allude to the ‘possibility’ of increased taxes, and perhaps the President is aware of the scuttlebutt, perhaps he’s even encouraging the whispers to see what the reaction will be, but I wouldn’t put any faith in any rumors spread by ‘journalists’ until the words actually come out of the President’s mouth.
He’s never been shy in sharing what he thinks.
1. Pass a Balanced Budget Amendment.
2. Term limits for all Reps, Senators and Judges.
3. Eliminate many federal agencies and institutions. Eliminate some federal departments.
4. End all grants and subsidies to NGOs and schools.
5. End all foreign aid.
6. Stop funding UN, WHO, IMF and other globalist organizations.
7. Tax the extremely wealthy at a higher rate UNTIL the national debt is drastically reduced.
We are $37 trillion in debt. The Titanic is sinking and those running the ship are worried about the arrangement of deck chairs.
Some history on high tax rates:
World War II Era: The top marginal income tax rate reached its peak at 94% in 1944. This rate applied to taxable income over $200,000 (which is equivalent to approximately $2.5 million today when adjusted for inflation). This high rate was part of a broader effort to finance the war effort and manage post-war economic challenges. Post-War Period: Following World War II, the top rate remained elevated, staying above 90% until 1963. Specifically, it was set at 91% from 1945 through 1963 for incomes exceeding $400,000 (about $3 million today) as the government continued to address wartime debts and economic adjustments.
Not misleading if they simply add a new tax bracket.
Remember when the income tax was first passed and sold to the American people or was only on the “wealthy”. The income tax didn’t kick in until you had made 20k and was only 1% of your income from 20k to 50k
And the top tax rate was 6% on those making over 500k.
And this was 1913. Meaning, the equivalent today would be no one making under 640k in income would be paying a penny in federal income taxes and from 640k to 1.6M would only pay 1% in income tax
True, but the article indicates an increase in the existing top bracket: “...namely hiking the top individual tax rate from 37% to 40%...”. As you statement implies, I think we have a spending problem not an income (tax) problem.
The top 10% of taxpayers already pay 75% of income taxes.
https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/
——saluting loyalists-—
= attack dogs
The overwhelming assault on the progressive nightmare is unpresented and has all our progressive American enemies reeling
They have lost their money. They have lost untold thousands of government jobs. They have actually lost the government that has been closed. They have lost the border and illegal aliens are being deported in droves.
Lastly, they have no power to prevent further destruction of their world. It all occurred within the first 100 days.
Actually, going from 37% to 40% is an 8.1% increase.
I’m expecting the WSJ to start publishing stories like, “We were abducted by little green men and their leader looked just like President Trump”....
Isn’t it something like 47 percent don’t pay taxes at all. Appears only wealthy are paying taxes afterall.
I don’t make a million dollars a year but I’m against these types of taxes. Any tax that reduces taxes on the middle and lower class while increasing it on the “rich” (whatever that means any given day) complete disincentivizes the majority of voters from cutting spending. We desparately need spending cuts. The only way to get there is if middle and lower class individuals feel the pain of spending too much.
You take some article at face value? Believe me, if it came to getting a higher tax rate or creating a new tax bracket, you really think the end game would be oh we’ll only support it if raises the current tax rate and won’t allow a new tax bracket with a higher rate be created?
They may want to raise the existing tax rate but if the only way they can get it passed is create a new tax bracket with a higher rate no one is going to say no, we will only support raising the rates and keeping the same brackets
And thats exactly how the income tax was supposed to be.
In 1913 the income tax started at 1% on those making more than 20k a year (that’s the equivalent of 640k earnings today). And topped out at 6% on folks making 500k a year or the equivalent of 16,000,000 a year.
It’s the Wall St. Journal...
Their forever duty is to give the zombies what they want to hear- NOT the truth.
Say it loud and often!
[[the president stocked his administration with nothing but saluting loyalists]]
What a nasty rag the wsj has turned into! They act Like Biden and EVERY PRESIDENT hasn’t done the same thing! Nope, it’s only president Trump who did it.
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