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
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
Mexico’s Sheinbaum to hold a support rally following major protests
- Sheinbaum called for supporters to gather in the capital on the weekend in what analysts said was an attempt to demonstrate her support in the face of growing scrutiny
MEXICO CITY: Mexican President Claudia Sheinbaum has organized a large rally in the country’s capital on Saturday to shore up her support following a month of political pushback and major protests.
The killing of Mayor Carlos Manzo in restive Michoacan state had sparked two days of demonstrations in November with protesters setting fire to public buildings.
Just weeks later, thousands marched through the streets of Mexico City to protest drug violence and the government’s security policies. That was followed by the abrupt departure of the country’s attorney general, Alejandro Gertz, in December over reported disagreements with Sheinbaum’s administration on crime policy.
Sheinbaum called for supporters to gather in the capital on the weekend in what analysts said was an attempt to demonstrate her support in the face of growing scrutiny.
“We close this 2025 with the historic celebration of seven years of transformation,” Sheinbaum said in a post on X.
Sheinbaum took office in 2024, following the six-year tenure of her predecessor Andres Manuel Lopez Obrador, with both leaders representing the left-wing Morena party.
“Let us together defend the people’s achievements ... in the Zocalo of Mexico City,” Sheinbaum added, referring to the capital’s main public square where weeks ago protesters criticizing her government’s security policies had clashed with police.
Though Sheinbaum has seen high approval ratings in her first year of power, they dipped slightly in recent months, easing from 74 percent in October to 71 percent at the start of December, according to the Polls MX survey summary.
- ‘Reshape the narrative’ -
Analysts told AFP the president not only faces scrutiny from her political opponents and members of the public, but from within her own party.
This gathering in the Zocalo, the country’s main square, is an “attempt at internal support, to reshape the narrative, to call for unity,” said political analyst Pablo Majluf.
Political columnist Hernan Gomez Bruera told AFP that Sheinbaum is “an incredibly efficient president” who likes to be in control and demands a lot from her team. But she is also “very thin-skinned” and “has difficulty dealing with dissent,” he added.
Despite a slight slip in poll numbers over the past few months, the leftist leader, who is Mexico’s first woman president, is still benefiting from a decline in poverty levels that began under her predecessor.
Sheinbaum has also won praise among her supporters for keeping at bay US President Donald Trump’s threats of high trade tariffs and military action on Mexican soil against drug cartels.
Sheinbaum met with Trump and Canadian Prime Minister Mark Carney in Washington on Friday to discuss trade on the sidelines of the draw for the 2026 World Cup, which will be co-hosted by all three countries. She said on X following the meeting that the three nations maintain a “very good relationship.”
