Posted on 05/12/2025 12:50:05 PM PDT by ChicagoConservative27
Americans lambasted President George H. W. Bush for infamously vowing on stage at the 1988 Republican National Convention not to raise taxes on Americans, then supporting a tax hike as president two years later.
History could repeat itself as President Donald Trump this week signaled his support for congressional Republicans raising taxes to accomplish the ambitious goals of his "big, beautiful bill," according to experts.
"My opponent won't rule out raising taxes, but I will. And the Congress will push me to raise taxes, and I'll say no. And they'll push and I'll say no. And they'll push again, and I'll say to them: ‘Read my lips: no new taxes,’" then-Vice President Bush vowed at the 1988 convention, before raising taxes two years later with the Omnibus Budget Reconciliation Act of 1990.
While acknowledging the political backlash his fellow Republican faced, Trump signaled in a Truth Social post on Friday his own willingness to raise taxes on Americans, following reports confirmed by Fox News Digital that the president is considering raising the tax rate on individuals making $2.5 million or more by 2.6%, from 37% to 39.6%.
(Excerpt) Read more at foxnews.com ...
Experts say on Faux news of course.
The walls are closing in on Trump.
Ah, those wascally experts.
Jeb Bush runs as third party in 2028 and look out. (s)
“Experts” = fake news
So if he manages to do away with income tax, tax on tips, tax on OT and tax on SS and get a bunch of folks DOGE refunds…. Can we call it even that billionaires will have to pay an extra 2%? Did Bush take care of these things for the American people…😂😂😂😂
This is exactly why Trump said he’d be hesitant to raise taxes… “read my lips”…. He got these people twisted up.
It’s Nixon going to China.
The rich are leftists. Who cares?
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. NO, Ross Perot cost him the Election! In any event, Republicans should probably not do it, but I’m OK if they do!!!
I read "Republicans should probably not do it, but I’m OK if they do" as Trump is not for it, but it's not a line in the sand to cause Trump to veto a budget if Republicans add tax hikes for the $2.5 million income earners.
He never said that. He promised dropping taxeson tips and SS, tariffs, and tax cuts based on doge savings. He also said that Medicare and SS benefits would not be touched. If he needs a 2% marginal increase to keep the 2017 tax cuts due to expire and does all the other stuff. he’s fine.
Thanks for the content
The art of the deal means getting what you want. If he has to let high brackets go up…he will.
The Skull and Bones Party.
Yeah nice try a-holes it is not remotely the same.
Trump did pretty well under Reagan’s 28% top bracket.
Yep, George H. W. Bush was not that excited about a second term. They even had a 3rd party candidate get involved to make sure Bush’s Arkansas governor, “Slick Willie” Clinton, who managed Bush’s drugs for guns model through Mena, Arkansas, was elected.
Heck, to get Clinton re-elected the Bush’s had to run another 3rd party candidate.
Raise taxes on people making $2.5M a year?! He's going to lose the blue collar / middle class people now for sure!
All democrats will vote for the ‘big, beautiful bill’ now, because the rich will now ‘pay their fair share of taxes’.
Could be that that’s the game Trump is playing, to get democrat votes for the bill.
So, Trump will do the opposite of Bush Sr, who promised no new taxes and then approved of new taxes. Trump promised new taxes and then does NOT approve new taxes.
Democrats won’t fall for the ploy, though they were not going to vote for the bill anyway, because they hate Trump anyway. Democrats need the ‘tax the rich’ issue or they won’t have an issue to talk about in 2026 and 2028.
The bigger issue here, as I understand it, is that they can’t pass this bill through a reconciliation process to get around a Democrat filibuster unless it meets certain requirements for revenue projections to match spending levels over ten years. So they probably can’t pass a bill with all the proposed income tax cuts unless they can offset it with higher revenues from other sources.
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