Trump rejects idea of raising taxes on millionaires

Trump appeared to rule out a proposal to raise taxes on millionaires, arguing they would flee the country over the policy.

"I think it would be very disruptive because a lot of millionaires would leave the country," Trump told reporters in the Oval Office on April 23. "You'll lose a lot of money if you do that."

Trump allies such as Steve Bannon have supported raising taxes on the rich, but the president hadn't taken a position. Trump has suggested tariffs could potentially replace the income tax, even though economists warn that tariffs raise far less revenue and fall harder on lower-income households.

Most Americans now express little or no confidence in how President Donald Trump is handling the economy, a Pew Research Center survey shows. Nearly six in 10 disapprove of the tariffs he has imposed, and their predictions about what's ahead in the economy have darkened. The stock market and dollar have each tumbled on Trump's tariff policies and insults about Jerome Powell, the head of the Federal Reserve.

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You can't spell "HATRED" without

"RED HAT"

Where are they going to go? This is proof that Trump never learned a thing from his bankruptcies, ie that you cannot spend money without taking money in.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

Convict Trump is beholden.



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If I should ever die, God forbid, let this be my epitaph: THE ONLY PROOF HE NEEDED FOR THE EXISTENCE OF GOD WAS MUSIC - KV


Edited: 04/24/2025 at 08:12 AM by Bamboo

Sounds about right.

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Art of The Dipshit

I can't imagine lowering the tax rates for the millionaires, literal millionaires, will not purge them from their elected positions.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.