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GOP rejects ‘millionaire tax’ pitch, advancing breaks for rich Americans
The Washington Post ^ | May 28, 2025 6:00 a.m. EDT | Jeff Stein

Posted on 05/28/2025 12:38:46 PM PDT by E. Pluribus Unum

Legislation moving through Congress includes breaks for the upper and middle classes as the House rebuffs President Donald Trump’s suggestions.

House Republicans rejected a push by some allies of President Donald Trump to include tax hikes on the rich in sweeping legislation they passed last week — a decision that could carry repercussions into next year’s elections.

The legislation House Republicans approved last week extends tax cuts Trump signed into law in 2017, cutting rates across income groups, including large benefits for the Americans who pay the highest share of federal income tax — those in the top 5 percent of the income distribution. The measure excluded a “millionaire tax,” and other proposals to raise taxes on top earners pitched by Stephen K. Bannon, the president’s first-term chief strategist, and other allies of the president. The Senate could make further changes, but Republicans in the upper chamber are expected to prove even less likely to back higher taxes on the top income bracket, several analysts said.

The issue may help define the upcoming battle over the GOP’s key legislative achievement ahead of the 2026 midterm elections. While Sen. Josh Hawley (R-Missouri) told reporters last week that Trump is still pushing legislation to raise taxes on private-equity groups, the GOP is poised to largely reprise the strategy of its 2017 tax bill, which the party struggled at times to sell to voters the following year. Democrats attacked that legislation as skewed for the rich — and won control of the House in 2018 — but efforts to reorient the GOP around a more populist policy program this year appear to be stalling.


(Excerpt) Read more at washingtonpost.com ...


TOPICS: Government; Politics/Elections
KEYWORDS: classwarfare

1 posted on 05/28/2025 12:38:46 PM PDT by E. Pluribus Unum
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To: E. Pluribus Unum

How is someone keeping their own money a break?


2 posted on 05/28/2025 12:43:22 PM PDT by rey
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To: E. Pluribus Unum

Old days of printed newspapers: Jimmy, tell Carl to hold page one. Replace the lead story.

New days of slanted TV media: Cut off five minutes of “we hate Trump” and discuss “Trump’s Project 2025 supporters in Congress push his threat to democracy with more tax cuts for the rich.”


3 posted on 05/28/2025 12:45:02 PM PDT by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls. )
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To: E. Pluribus Unum

Watching carefully at the effects of the Unrealized Capital Gains tax in Australia 7/1/25.


4 posted on 05/28/2025 12:47:42 PM PDT by griswold3 (Truth Beauty and Goodness)
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To: E. Pluribus Unum

Winning!


5 posted on 05/28/2025 12:48:36 PM PDT by sipow
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To: E. Pluribus Unum

Maybe just tax every income earner the same %.


6 posted on 05/28/2025 12:56:22 PM PDT by kawhill ("Were you able to help him? He didn't come here for help, he came here for permission.")
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To: E. Pluribus Unum

LEFT WING WPOST.

NOT HAPPY PEOPLE WHO EARN THIER MONEY CAN GET TO KEEP IT.


7 posted on 05/28/2025 1:04:38 PM PDT by Pearfect (Ou can't beat the competition lock-e et !!! )
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To: E. Pluribus Unum

I don’t know what the Democrats are complaining about. Trump wants to make people making less than $75,000 pay no tax that sounds like a good deal

On the other hand, I think if somebody makes more than $500 million they should have to pay more tax.


8 posted on 05/28/2025 1:15:09 PM PDT by ncfool (we are witnessing the rebirth of American greatness 🇺🇸)
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To: ncfool
On the other hand, I think if somebody makes more than $500 million they should have to pay more tax.

If everybody pays the same percentage, they do "pay more tax."

Evidently you want a progressive income tax, which is Plank #2 of the Communist Manifesto.


9 posted on 05/28/2025 1:18:55 PM PDT by E. Pluribus Unum (Democrats are the Party of anger, hate and violence.)
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To: kawhill

Exactly! A flat tax of 17% (the rate suggested by Friedman) for everyone is fair. Right now, the “rich” (i.e., incomes > $450,000) pay 72% of TOTAL tax collections while the bottom 50% (i.e., incomes < $44,500) pay less than 3% and many people pay $0 tax dollars. To me, if you pay $0 tax dollars, you should not vote in Federal elections. After all, no skin in the game why should you have a say in how those dollars are spent. An additional benefit of a flat tax is that it does not alter the allocation of resources like the current Tax Code does. Some feel that Bezos, Gates, et al, should pay more. Why? Until you feed, clothe, and house 250,000+ souls like Bezos does, sit down and STFU.


10 posted on 05/28/2025 1:20:11 PM PDT by econjack
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To: rey

It’s a break from what many think they should have to pay in taxes.


11 posted on 05/28/2025 1:23:47 PM PDT by 9YearLurker
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To: E. Pluribus Unum

If economy isn’t full throttle midterms Democrats will run on this. Cut taxes on super wealthy while cutting programs for the poor.


12 posted on 05/28/2025 1:39:25 PM PDT by TornadoAlley3 ( I'm Proud To Be An Okie From Muskogee)
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To: E. Pluribus Unum

Rich people deserve to keep what they have not stolen.


13 posted on 05/28/2025 3:12:49 PM PDT by Socon-Econ (adi)
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To: Socon-Econ
Rich people deserve to keep what they have not stolen.


14 posted on 05/28/2025 3:16:34 PM PDT by E. Pluribus Unum (Democrats are the Party of anger, hate and violence.)
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To: E. Pluribus Unum

Everybody gets a slice of the pie.


15 posted on 05/28/2025 3:21:46 PM PDT by Mashood
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To: econjack

“while the bottom 50% (i.e., incomes < $44,500) pay less than 3% and many people pay $0 tax dollars. To me, if you pay $0 tax dollars”

Actually, when you factor in the Earned Income Credit, many of these people near the bottom in REPORTED income have a negative tax rate, meaning they get OUR money just for filing a return. Personally, I’m sick of that.


16 posted on 05/28/2025 4:11:45 PM PDT by BobL
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To: E. Pluribus Unum

10% tax for every income bracket, why is that so hard?


17 posted on 05/29/2025 4:44:51 AM PDT by playindatrumpcard
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