GOP rejects ‘millionaire tax’ pitch, advancing breaks for rich Americans

The Washington Post ^ | May 28, 2025 6:00 a.m. EDT | Jeff Stein

[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.

[rey]

How is someone keeping their own money a break?

[frank ballenger]

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.”

[griswold3]

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

[sipow]

Winning!

[kawhill]

Maybe just tax every income earner the same %.

[Pearfect]

LEFT WING WPOST.

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

[ncfool]

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.

[E. Pluribus Unum]

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.

[econjack]

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.

[9YearLurker]

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

[TornadoAlley3]

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

[Socon-Econ]

Rich people deserve to keep what they have not stolen.

[E. Pluribus Unum]

Rich people deserve to keep what they have not stolen.

[Mashood]

Everybody gets a slice of the pie.

[BobL]

“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.

[playindatrumpcard]

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