President Donald Trump has never tried to hide the fact that he’s firmly in the camp of the rich. He’s worked his entire presidency to ensure that the rich never have to pay their fair share and when questioned about it, he comes up with the most ridiculous answers.
On Wednesday, the president of people who don’t have to take money out of their savings to get food from Five Guys, noted that he was not in favor of a million tax hike because he fears that many of the well paid would leave the country.
“I think it would be disruptive because a lot of the millionaires would leave the country,” the president said in the Oval Office, where he was probably signing blank pieces of paper to make it look like he was working, Mediaite reports. “You know, 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. You lose a lot of money if you do that. That would– and other countries that have done it have lost a lot of people. They lose their wealthy people. That would be bad because the wealthy people pay the tax, ok?”
From Mediaite:
The administration and congressional Republicans have been working on a reconciliation bill that would extend the 2017 Trump tax cuts, most of which expire this year. Last month, it was reported that some in the White House suggested letting the tax cuts for higher earners – individuals making more than $609,351 and married couples making more than $731,201 – expire. If the provision is allowed to sunset, the tax rate for people in those categories would rise from 37% to 39.6%
This month, Trump reportedly expressed openness to an increase during a meeting with Republican senators. Rumors of the hikes prompted Fox News host and longtime Trump confidante Sean Hannity to call the idea “bad” and say the hike would “go against everything Donald Trump has ever believed in.”
Bloomberg News found that if Trump raised millionaire taxes from 37% to 39.6%, America would generate some $400 billion in 10 years. But why would Trump want to upset the status quo when he has the poor and middle class right there?
Some Trump insiders note that privately, the president liked the idea of raising taxes on the rich, but he couldn’t ruin his public image of being the exact opposite of Robin Hood.
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Trump: I Can’t Raise Taxes On The Rich, They’ll Leave The Country
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