- Donald Trump has once again launched a tax increase to people who make several million annually as part of the Republican Party tax negotiations. But the proposal, which is reduced against the deep republican principles, will only do little to the income of the fierce income in the experts of the wealthy tax policy. It will also not collect much money for the budget deficit.
While Republicans in Congress are trying to negotiate the draft fiscal policy law, a non -Republican concept has returned to the table: raising the tax rate on the highest owners.
According to President Donald Trump, Parliament Speaker Mike Johnson, this week, requested the creation of a new tax segment for people who get more than $ 2.5 million, New York Times I mentioned and luck certain.
Trump is also studying ending a loophole that allows financial professionals such as hedge managers and private stock managers to pay less tax rates than ordinary workers, and to impose taxes on shares resets by companies, Times I mentioned. Popular proposals undoubtedly appeal to the Maga rule, which often stresses the party’s responsibility towards the working class.
Steve Bannon, the former Strategic expert of Trump, who has The medical aid pieces were cut offIt also occurs in favor of raising taxes on the highest owners. “The current system that we have is not sustainable,” Banoun said last month. Associated Press. “I think the alternative is budget discounts. And … tax increases should be on the wealthy.”
But political experts say that the type of modest tax increase that is proposed barely weakens the vitality, whose wealth reaches astronomical levels, as political experts say.
“This is largely symbolic-it will not have a significant impact on revenues, and certainly will not have a significant impact on inequality,” said Howard Blikman, a older colleague at the Tax Policy Center in urban areas.
I income taxes impose more than $ 2.5 million annually at 39.6 %, instead of its current rate by 37 % under the supposed discounts and temporary functions law, will raise about $ 8.2 billion this year and affect 80,000 dollars, according to TPC estimates. “It is not many people,” he said.
More importantly, it earns millionaires and billionaires in the United States a few of their income in the form of salaries. Jelkman said: “The higher the distribution of income, the lower, less and more ordinary income, the more capital gains.” These gains are subject to a lower tax rate that applies to income from investments, such as shares, bonds, joint investment funds, real estate and the like.
Capital gains and tax base pain
The large millionaires and billionaires of Maga and Trump, sometimes have arrived in part by keeping huge amounts of stocks in companies that have grown at amazing speed.
“Raising the highest income tax rate to save any major impact on most of these billionaires,” said Sarah Anderson, director of the program at the Political Studies Institute. luck newly. “This is because they take little compensation from their companies.” Amazon Founder Jeff Bezos received a salary of $ 81,000 every year, the CEO; Mark Zuckerberg takes a $ 1 salary from DeadAnd Elon Musk never accepted the salary Timing Pay it before removing it completely, according to the company’s securities files.
Anderson said: “Our tax law is really deviant towards the interests of people like these billionaires,” Anderson said.
She said: “Most of their wealth is in stocks, and they can completely avoid taxes by adhering to these assets and borrowing against them.” “If they sell some of their shares … they pay a tax on this income, but at a sharp reduced capital gains.”
According to the recently IPS report, Bezos 6.2 billion dollars have provided federal taxes since 2017 thanks to the payment of low capital gains, instead of the average income rate, on the shares that sold it.
Anderson said: “I have not heard anything that the Republicans are open to the equation of (taxes) between capital gains and ordinary income or even raising the capital profit tax, and certainly nothing about them supports wealth tax, or billionaire income tax.”
The traditional Republicans have made financially explained their opposition to any clear tax height. This group includes Trump Steve Moore, Larry Kudlo and Gop Sens McCromic From West Virginia and Ted Cruz from Texas
Senator Mike Crabo of Idaho said he was not on taxes on walking for long distances, but could be open to persuasion.
“For the time being, I am not excited about the proposal, but I must say that there are a number of people in the House of Representatives and the Senate,” Crabo told PodCaster HEWITT this week. “If the president weighs this, it will be a big factor that we must take into account as well.”
Delivery of a hole of $ 4.5 trillion
Trump collected some copies of the millionaire tax for several months. Recently said time He “loves” a millionaire tax, but this supports one It lost elections.
The fact that the Republican Party, which was made “No new taxes” pledge The cornerstone is in its identity since the eighties, even it is considered to be in tax increases. The Republican Party is looking to compensate for the increases of about $ 4.5 trillion in spending from extension of the 2017 discounts and jobs law and possibly exempting social security income and tax advice, two priorities from Trump.
“It will be a small part of the total-it will certainly not compensate for the challenges faced by Republicans on the spending side.”. luck. (Its tax institution has Call To reduce tax rates in general with the expansion of the tax base by removing discounts and sculptures.)
He added: “It is still not compatible with the Republican principles.”
GLCKMAN is agreed to the tax policy center.
“The revenues will not change much, and many Republicans will be given in a heartburn.”
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/05/GettyImages-2194360632-e1746829232539.jpg?resize=1200,600
Source link