Posted on 05/09/2025 7:25:39 PM PDT by ChicagoConservative27
Senate Majority Leader John Thune (R-SD) said Friday on CNBC’s “Squawk Box” that he did not want to see taxes go up on anybody when asked about President Donald Trump’s comments on taxes.
On Truth Social Trump posted, “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!!!”
Host Joe Kernen said, “The president wants to help, I think working class people look at the tariffs, look at all these things. The case could be made that maybe some redistribution or some movement on on who pays the lion’s share of taxes, maybe you could reallocate some. Is this the right way to do it?”
Thune said, “I don’t want to see taxes go up on anybody. We’re all about lowering taxes, not raising taxes. But I do think the president, he’s not a conventional president. People didn’t vote for a conventional president and I think his policies reflect that.”
He added, “I think that the people around him understand what he’s trying to achieve here. And that is if you look at what he’s proposing, there’s particular emphasis on working Americans.”
(Excerpt) Read more at breitbart.com ...
You can do a gimmicky thing like raise the top marginal rate, but increase the cap on the second marginal rate to offset it. Raise the cap on the payroll tax and offset that by further raising the caps on the second and third marginal rates. That would achieve no net tax increase and also throw the “cutting SS and Medicare” narrative back in the Dems faces.
Yeah, its a gimmick...but given we aren’t going to get a total tax system overhaul in this budget, let’s go for it. It would be a gimmick that would destroy the Dem narrative and still achieve the other goals to allow for reconciliation.
The reason for all this is the numbers are crushing and he is desperate for improvement of those numbers.
ChatGPT: How much tax revenue would an increase in the top rate to 39.5% generate in year 1.
(this avoids the whole issue of lowering tax rates increasing revenue presumption vs raising them, year 1 erases that)
Answer:
Annual increase — Roughly $10 billion to $15 billion per year, depending on economic conditions and tax avoidance responses.
$10 billion isn’t going to fix anything.
Which is why we need to raise the tax rate on the ultra-wealthy. They took advantage of the system to set up NGOs by hiring their family and/or friends by using our tax dollars.
If just a handful of them left the country it would be devastating to the tax base. Look at what percentage of income tax revenues just a small percentage of people in the country pay.
true. we’ve payed 100x for everything they’ve inflicted on us. inflation and property taxes are the worst culprits, but the 1000 other ways to fleece the hard working American sheep.
the fix has been in for more than a century. the lords of easy money, win no matter what.
The rich pay the vast majority of the taxes.
No new taxes after what we have seen DOGE find in the way of corruption!! What are these politicians smoking?
Trillions spent every year and the state and federal gov’t people cannot fill in potholes!
We would be better off if Jeff Bezos and Bill Gates ended up moving to the UK. There will be less interference in our politics.
I SO loathe republicans.
How about getting to work in downsizing our government.
If the new Big Beautiful Bill doesn’t pass by the end of this year, the tax cuts from 2017 will expire and everyone’s taxes will increase.
Better get to work herding your cats, Johnny Boy.
EC
Bush’s promise was “No new taxes”. He kept it, but didn’t prevent the OLD taxes from being increased.
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