President Donald Trump said it would be “OK” with him if Republican lawmakers raised taxes on the rich, but in the same breath he cautioned against it.
Trump took to Truth Social to share his message as Republicans on Capitol Hill work to forge the “Big Beautiful Bill.” He argued that Democrats would likely seize on such an increase to try to score political points:
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!
He then cautioned against a tax hike on the rich, before saying he would be okay with it if Republicans move forward with one.
“In any event, Republicans should probably not do it, but I’m OK if they do!!” he added.
The post follows reports on Thursday that Trump called House Speaker Mike Johnson about increasing taxes on America’s top earners in the bill that also aims to codify his 2017 tax cuts and fulfill a number of tax-related campaign promises, like no taxes on tips or overtime.
NBC News reported that a “GOP source familiar with the call said Trump is considering allowing the rate on individuals making $2.5 million or more annually to revert from 37% to the pre-2017 39.6% to protect Medicaid and help pay for middle- and working-class tax cuts.”
On April 24, Trump notably said a millionaire tax would be “disruptive” when asked if he would back one.
“I think it would be very disruptive because a lot of the millionaires would leave the country,” he said.
“You know, in the old days, they left states–they’d go from one state to the other. Now, with transportation so quick and so easy, they leave countries,” he added. “You lose a lot of money if you do that.”
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