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Business & Economy

Business & Economy

The Big Story

Trump loves 'concept,' but not politics of tax hike

In an interview published Friday, the president said he loves the idea of raising taxes on the wealthy to pay for some of his policy proposals, but acknowledged it may not be “acceptable to the public.”

© AP

Trump sat down Tuesday for an interview with Time magazine centered on his first 100 days in office and was asked about the idea floated by some Republicans.

Despite longstanding Republican opposition to tax hikes, some GOP members have proposed raising taxes on millionaires to offset the cost of extending tax cuts, as well as adding the new cuts the president proposed while on the campaign trail.

His comments were made one day before Trump warned the concept of a higher tax on millionaires would be “disruptive.”

“It doesn’t make that much difference, and yet, I could just see somebody trying to bring that up as a subject, and, you know, say, ‘Oh, he raised taxes.’ Well, I wouldn’t be, really, you know, in the true sense, I wouldn’t. I’d be raising them on wealthy to take care of middle class,” Trump told Time.

Read the full report at TheHill.com.

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