WASHINGTON: US President Donald Trump said on Friday he was “OK” with raising taxes on the wealthiest Americans, as his fellow Republicans consider scaling back the scope of the ambitious tax-cut package they aim to pass this year.
“Republicans should probably not do it, but I’m OK if they do!!!” Trump wrote in a post on his social media platform.
Speaking to reporters later at the White House, Trump gave a stronger endorsement.
“I would love to do it, frankly,” he said in the Oval Office. “What you’re doing is you’re giving up something up top in order to make people in the middle income and the lower income brackets save more. So it’s really a redistribution, and I’m willing to do it if they want.”
Trump, a wealthy businessman with properties all over the world, indicated he would be willing to pay more in taxes himself. “I would love to be able to give people in a lower bracket a big break by giving up some of what I have.”
The Senate’s top Republican, John Thune, said he was not enthusiastic about the idea. “We don’t want to raise taxes on anybody. I mean, we’re about lowering taxes on Americans,” he said on Fox News.
Trump’s message comes as US House of Representatives Speaker Mike Johnson weighs whether to reduce the total tax package.
Johnson told some House Republicans on Thursday that he is now looking at $4 trillion in tax cuts, rather than an initial $4.5 trillion, according to a Republican aide.
Republicans are also fighting over spending cuts needed to pay for Trump’s “one big beautiful bill,” jeopardizing the goal of making all of the expiring provisions of his 2017 Tax Cuts and Jobs Act permanent.
Trump privately urged Johnson this week to raise the tax rate and close the carried-interest loophole for Wall Street investors, sources told Reuters on Thursday.
The Republican president suggested an increase to 39.6 percent from 37 percent for individuals earning $2.5 million or higher and joint filers earning at least $5 million, with carve-outs for small businesses, one source said.
“I don’t think they’re going to be doing it, but I actually think it’s good politics to do it,” Trump said.
Spending cuts to Medicaid and other programs are likely to fall short of a $2 trillion goal over a decade.
Johnson and other top Republicans have resisted the idea of raising taxes on the wealthy.
But Representative Andy Harris, who chairs the ultraconservative House Freedom Caucus, said a higher top tax bracket would help pay for the Trump agenda.
“Personally, I’ve always believed that if we can’t find spending reductions elsewhere, we should look at restoring the pre TCJA tax bracket on million dollar income,” the Maryland Republican wrote on X.
Trump views higher taxes on the rich as a way to help pay for massive middle and working-class tax cuts, and to protect Medicaid, the health care program for lower-income Americans.
But the president warned on Friday that Democrats would seize on “even a ‘TINY’ tax increase for the ‘RICH,’” citing former Republican President George H.W. Bush, who lost his 1992 re-election bid after breaking his promise not to hike taxes.
Trump and Republican lawmakers have cited the potential extension of the 2017 tax cuts as relief for Americans and an economic boost amid Trump’s tariffs on imported goods.
They have vowed to enact the extension as part of a larger budget bill that would also fund border security, the deportation of undocumented immigrants, energy deregulation and a plus-up in military spending.
![]()
Trump says he’s OK with taxing the rich but warns of political fallout
Short Url
https://arab.news/494sr
Trump says he’s OK with taxing the rich but warns of political fallout
- Trump suggests higher taxes on the wealthy
- Taxing the rich gets boost from leading hard-line Republican
New Trump strategy vows shift from global role to regional
WASHINGTON: President Donald Trump’s administration said in a long-awaited new strategy document Friday that the United States will shift from its historic global role toward increasing dominance in Latin America and vigorously fighting migration.
The national security paper, meant to flesh out Trump’s norms-shattering “America First” worldview, signals a sharp reorientation from longstanding US calls to refocus on Asia, although it still identifies China as a top competitor.
The strategy also brutally criticized allies in Europe and said that the United States will champion opponents to European Union-led values, including on immigration.
Breaking with decades of attempts to be the sole superpower, the strategy said that the “United States rejects the ill-fated concept of global domination for itself.”
It said that the United States would also prevent other powers from dominating but added: “This does not mean wasting blood and treasure to curtail the influence of all the world’s great and middle powers.”
The strategy called for a “readjustment of our global military presence to address urgent threats in our Hemisphere, and away from theaters whose relative import to American national security has declined in recent decades or years.”
The strategy speaks in bold terms of pressing US dominance in Latin America, where the Trump administration has been striking alleged drug traffickers at sea, intervening to bring down leftist leaders including in Venezuela, and loudly seeking to take charge of key resources such as the Panama Canal.
The strategy cast Trump as modernizing the two-century-old Monroe Doctrine, in which the then young United States declared Latin America off-limits to rival powers, then from Europe.
“We will assert and enforce a ‘Trump Corollary’ to the Monroe Doctrine,” it said.
- Championing Europe ‘resistance’ -
Trump has sharply reversed many longstanding US principles since returning to office in January.
He rose to political prominence demanding sweeping curbs on immigration to the United States, fanning fears that the white majority was losing its status, and since taking office has ordered drastic and high-profile raids to deport undocumented people.
“The era of mass migration must end. Border security is the primary element of national security,” the strategy said.
The strategy made clear that the United States under Trump would aggressively pursue similar objectives in Europe, in line with far-right parties that have made strong gains in much of the continent.
In extraordinary language in speaking of close allies, the strategy said: “Cultivating resistance to Europe’s current trajectory within European nations.”
Germany quickly hit back, saying that it does not need “outside advice.”
The strategy pointed to Europe’s lower share of the global economy — which is the result largely of the rise of China and other emerging powers — and said: “This economic decline is eclipsed by the real and more stark prospect of civilizational erasure.
“Should present trends continue, the continent will be unrecognizable in 20 years or less.”
As Trump seeks an end to the Ukraine war that would likely favor Russia gaining territory, the strategy accused Europeans of weakness and said the United States should focus on “ending the perception, and preventing the reality, of NATO as a perpetually expanding alliance.”
- Less on Middle East and Africa -
The strategy paid comparatively little attention to the Middle East, which has long consumed Washington.
Pointing to US efforts to increase energy supply at home and not in the oil-rich Gulf, the strategy said: “America’s historic reason for focusing on the Middle East will recede.”
The paper said it was a US priority for Israel to be secure, but stopped short of the fulsome language on Israel used even in the first Trump administration.
On China, the strategy repeated calls for a “free and open” Asia-Pacific region but focused more on the nation as an economic competitor.
After much speculation on whether Trump would budge on Taiwan, the self-ruling democracy claimed by Beijing, the strategy made clear that the United States supports the decades-old status quo, but called on allies Japan and South Korea to contribute more to ensure Taiwan’s defense from China.
The strategy predictably puts little focus on Africa, saying the United States should transition away from “liberal ideology” and an “aid-focused relationship” and emphasize goals such as securing critical minerals.
The national security paper, meant to flesh out Trump’s norms-shattering “America First” worldview, signals a sharp reorientation from longstanding US calls to refocus on Asia, although it still identifies China as a top competitor.
The strategy also brutally criticized allies in Europe and said that the United States will champion opponents to European Union-led values, including on immigration.
Breaking with decades of attempts to be the sole superpower, the strategy said that the “United States rejects the ill-fated concept of global domination for itself.”
It said that the United States would also prevent other powers from dominating but added: “This does not mean wasting blood and treasure to curtail the influence of all the world’s great and middle powers.”
The strategy called for a “readjustment of our global military presence to address urgent threats in our Hemisphere, and away from theaters whose relative import to American national security has declined in recent decades or years.”
The strategy speaks in bold terms of pressing US dominance in Latin America, where the Trump administration has been striking alleged drug traffickers at sea, intervening to bring down leftist leaders including in Venezuela, and loudly seeking to take charge of key resources such as the Panama Canal.
The strategy cast Trump as modernizing the two-century-old Monroe Doctrine, in which the then young United States declared Latin America off-limits to rival powers, then from Europe.
“We will assert and enforce a ‘Trump Corollary’ to the Monroe Doctrine,” it said.
- Championing Europe ‘resistance’ -
Trump has sharply reversed many longstanding US principles since returning to office in January.
He rose to political prominence demanding sweeping curbs on immigration to the United States, fanning fears that the white majority was losing its status, and since taking office has ordered drastic and high-profile raids to deport undocumented people.
“The era of mass migration must end. Border security is the primary element of national security,” the strategy said.
The strategy made clear that the United States under Trump would aggressively pursue similar objectives in Europe, in line with far-right parties that have made strong gains in much of the continent.
In extraordinary language in speaking of close allies, the strategy said: “Cultivating resistance to Europe’s current trajectory within European nations.”
Germany quickly hit back, saying that it does not need “outside advice.”
The strategy pointed to Europe’s lower share of the global economy — which is the result largely of the rise of China and other emerging powers — and said: “This economic decline is eclipsed by the real and more stark prospect of civilizational erasure.
“Should present trends continue, the continent will be unrecognizable in 20 years or less.”
As Trump seeks an end to the Ukraine war that would likely favor Russia gaining territory, the strategy accused Europeans of weakness and said the United States should focus on “ending the perception, and preventing the reality, of NATO as a perpetually expanding alliance.”
- Less on Middle East and Africa -
The strategy paid comparatively little attention to the Middle East, which has long consumed Washington.
Pointing to US efforts to increase energy supply at home and not in the oil-rich Gulf, the strategy said: “America’s historic reason for focusing on the Middle East will recede.”
The paper said it was a US priority for Israel to be secure, but stopped short of the fulsome language on Israel used even in the first Trump administration.
On China, the strategy repeated calls for a “free and open” Asia-Pacific region but focused more on the nation as an economic competitor.
After much speculation on whether Trump would budge on Taiwan, the self-ruling democracy claimed by Beijing, the strategy made clear that the United States supports the decades-old status quo, but called on allies Japan and South Korea to contribute more to ensure Taiwan’s defense from China.
The strategy predictably puts little focus on Africa, saying the United States should transition away from “liberal ideology” and an “aid-focused relationship” and emphasize goals such as securing critical minerals.
Latest updates
© 2025 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.